The Brazilian oil company had a drop in net profit. Still, it recorded its sixth-best-ever EBITDA, driven by higher oil exports and lower LNG imports.
Browsing: petróleo brasil
Brazil produced three million barrels of oil a day last year, most coming from pre-salt reserves. The majority of the country’s natural gas also came from pre-salt.
According to company PPSA, linked to the Brazilian Ministry of Mines and Energy, this is the volume the country expects to produce under the sharing regime in pre-salt areas from 2023 to 2032. Daily production is expected to increase fourfold in the coming years.
A study by ABESPetro, conducted with consultancy firm Delloite, pointed out the Brazilian oil and gas industry could receive investments of USD 24 billion a year until 2025.
The Brazilian company announced its refineries were running nearly full tilt at the end of June.
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.
Brazilian oil company performed well, driven by higher oil prices and lower operating expenses. Gross debt decreased and asset sales generated USD 210 million.
A barrel is going for roughly USD 70, benefiting oil producing and exporting countries. However, Brazil, another producer, is still struggling under the impact of a strong dollar.
