Brazil shatters records for oil and natural gas production
Brazil's total oil and natural gas production reached an unprecedented 5.16 million barrels of oil equivalent per day (boe/d) in July, according to data released by the Brazilian National Agency for Petroleum, Natural Gas and Biofuels, TV BRICS reported.
The Monthly Oil and Natural Gas Production Bulletin revealed that this is the highest volume ever recorded, surpassing the 5 million boe/d mark for the first time in the nation's history.
Specifically, oil production reached 3.959 million barrels per day, marking a 5.4 per cent increase compared to June and a substantial 22.5 per cent rise compared to July of the previous year. Natural gas production also saw significant growth, reaching 190.89 million cubic metres per day (m³/d), up 5.1 per cent from the previous month and 26.1 per cent compared to the same period last year.
A significant portion of this record output originated from the pre-salt layer, which also achieved a new milestone of 4.077 million boe/d. This represents a 5.6 per cent increase over June and a 24.2 per cent increase year-on-year. Pre-salt production, carried out by 169 wells, accounted for a remarkable 79.1 per cent of the total national output.
Breaking down the figures further, oil production from the pre-salt reached 3.148 million barrels per day (exceeding 3 million bbl/d for the first time), while natural gas production hit 147.66 million m³/d.
Offshore fields were responsible for the vast majority of Brazil's hydrocarbon output, accounting for 97.7 per cent of oil production and 86.1 per cent of natural gas production.
Earlier it was reported that Brazil produces 88% of electricity from renewable sources.
