The money is expected to be invested in the 2024-2028 phase of the oil and gas industry’s current contracts, Brazil’s oil and biofuels regulator reported.
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The traffic of ports managed by Morocco’s National Ports Agency (ANP) dropped by 4.2% in 2022 compared to the previous year.
The Brazilian National Agency for Petroleum, Natural Gas, and Biofuels approved opening a public consultation to change a resolution and allow foreign companies to indicate areas for bidding in the sector.
The Brazilian representative in Palestine, Alessandro Candeas, met with the country’s minister of Foreign Affairs and Expatriates, Riyad al-Maliki.
Brazilian government created a committee to suggest enhancements in the governance and methodology of bid rounds in the sector. Group will consist of representations of ministries and ANP.
Brazil’s National Agency of Petroleum reported the cancellation the 17th bid round due to coronavirus.
Brazil produced 1.2 billion barrels of oil equivalent in 2019. Rio de Janeiro was the state that accounted for the largest share.
Oil production in the country went past the 3-million-barrel mark for the first time at 3.09 million barrels per day in November.
The 6th Round of the Pre-Salt Production Sharing will run on November 7 with 17 companies able to compete, the highest number in this regimen’s auctions.
Volume reached 3.828 million barrels of oil equivalent per day in August, almost 3 million being in oil only.
Brazil saw USD 500 million invested in the industry in 2018, as per a report by the Federation of Industries of the State of Rio de Janeiro.
Oil extraction averaged 2.5 million bpd during the month, down 6.4% from May and 1.3% from June 2018.
May saw 2.73 million bpd, higher than the previous record of December 2016.
Total output was 3.314 million barrels of oil equivalent, a 1.7% increase over March and 0.3% year-over-year.
