Saudi Arabia’s state-run oil company released its first-half results for the first time. Net income was down 13%; free cash flow went up.
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Brazilian state-owned company will focus its efforts in gas and oil exploration and production, said the company’s president Roberto Castello Branco.
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.
Net profit soared to an all-time high for Brazil’s state-run oil company, at BRL 18.9 billion.
The increment was driven by non-oil sectors including services, industry, public works and agriculture.
Executive Board published a report about the Arab country and forecasted non-oil GDP growth at 5.4% in 2019.
The organization estimates that the volume will grow by 1.14 million barrels per day from 2019 level.
May saw 2.73 million bpd, higher than the previous record of December 2016.
For the first time, the Saudi national petroleum company disclosed its public financial report and will make an unheard-of conference to present results in August.
Total output was 3.314 million barrels of oil equivalent, a 1.7% increase over March and 0.3% year-over-year.
Petrobras now extracts almost 2 million barrels of oil equivalent a day in the region’s ultra-deep waters.
USD 34 billion went into the government’s coffers during the month in Brazil, with collection driven by oil royalties.
March saw 2.5 million barrels of oil equivalent and 111 million cubic meters of gas produced per day in Brazil, the National Agency of Petroleum reported.
