Production averaged 2.6 million barrels per day last year in Brazil. Manufacturing of oil products, on the other hand, slid by 3.7% to 1.9 million bpd as spending on imports went up.
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Brazil’s National Agency of Petroleum, Natural Gas and Biofuels has issued a preliminary request for bids and the minutes of contracts for the 5th Pre-Salt Oil and Gas Production Sharing Tender Round, slated for September.
It was a unanimous decision, taken this Friday by the organization within a scenario of rising international oil prices.
The executive of the Energy Research Office, José Mauro Ferreira Coelho, believes that the country will be among the five major exporters of the sector in 2026 due to the combination of production increase and lack of expansion in the oil refinery area.
The Organization of the Petroleum Exporting Countries increased output in 35,000 barrels per day in May. Saudi Arabia alone increased its production in 85,500 barrels.
ANP sold three of the four blocks offered in an auction this Thursday (7).
Qatar Petroleum International will place a bid at the 4th Round of the Pre-Salt Production Sharing Regime with 15 other companies next Thursday (7).
Production amounted to 1.78 million barrels of oil equivalent per day in April in wells located in Brazil’s so-called pre-salt area.
A major hydrocarbon producer, the Arab country is struggling to spur its economy into growth. A four-year-long oil price slump has made an impact on the Algerian budget.
An IMF staff mission traveled to the Arab country and advised the government not to increase spending on the back of the oil price hike, as well as meet fiscal targets.
The number of launched projects has reached 2,410, according to a report by the BNC Network. From these, 1,730 are in tender or under construction.
The Brazilian state-owned company registered a net profit of BRL 6.9 billion (USD 1.97 billion) in this year’s Q1.
Four oil and gas blocks in the Campos and Santos basins will be auctioned under a production-sharing scheme. The auction is expected to take place on September 28.
ANP’s director general met with representatives of ADIA and AD Council last week, in which they showed to be interested in gas pipelines that will be privatized by the Brazilian state-owned oil company.
