The Brazilian state-run oil company’s Institutional Relations director Roberto Ardenghy, who joined a seminar concurrent with president Jair Bolsonaro’s trip to the UAE, also said the company is looking for partners to bid in tenders with.
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Output climbed 9.3% for oil and gas, and 3% for oil and gas products quarter-on-quarter.
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.
Gulf-based company is part of two consortia that won exploration and production rights to three oil blocks in Campos Basin last Thursday.
Volume reached 3.828 million barrels of oil equivalent per day in August, almost 3 million being in oil only.
Company reported a production of 3 million barrels of oil and gas per day, a record high.
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.
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.
