After Another Production Record Brazil May Become Self Sufficient in Oil in 2005

Petrobras reached in May an average monthly production of 1 million 729 thousand barrels of oil per day, in Brazil, which represents an increase of 21.1% over the volume produced in May 2004 (1 million 428 thousand barrels per day – bpd).

According to their Press Management, the result is 15.8% above last year’s average (1 million 493 thousand bpd). The historical daily production record was obtained May 12th, when production reached 1 million 820 thousand bpd.


With this new production level, the company keeps its course to ensure Brazil’s oil self-sufficiency by the end of 2005 or beginning of 2006.


Monthly average surpasses last monthly record (1 million 704 thousand bpd) by 25 thousand barrels, registered in April 2005, and by more than 236 thousand bpd the 2004 average production (1 million 493 thousand bpd).


During the nine first days of May, production was above 1 million 750 thousand bpd.


ABr

Tags:

You May Also Like

Venezuela Not Ready for Prime Time in a Mercosur Dominated by Brazil

Venezuela’s July 4 official accession to the Mercado Común del Sur (Mercosur), of which ...

Close to 3,000 Political Candidates Challenged in Court in Brazil

This is not an official number, but it’s been reported that in Brazil there ...

Mario Quintana’s One-Liners

"When accused of contradiction, just laugh. You’ve not really made any gaffe. At the ...

Just-Discovered Oil Field in Brazil Is 10% of the Country’s Oil Reserves

Brazilian state-run oil company Petrobras said it found a "gigantic" oil field containing the ...

Violent Start

It is too early to rule out a purely political motive in the death ...

Service Fees Make Brazil Banks Incredibly Profitable

For decades the growth of the Brazilian banking sector has continued uninterruptedly, preserved even ...

Now, Brazil’s Justice Minister Gets Involved in Corruption Scandal

Brazilian Justice Minister Márcio Thomaz Bastos denied any links to the scandal that a ...

Brazil’s JBS Becomes US Top Meat Processor

Brazil's JBS will be allowed to buy the beef operations of US's Smithfield Foods ...

Life Expectancy Jumps 9 Years in Brazil: It’s 71.8

The life expectancy of Brazilians has jumped from 62 years and six months, in ...

Brazil Keeps Key Interest Rate at Record Low 8.75%

The Central Bank of Brazil (BC) kept its key Selic interest rate at a ...