Brazil’s Oil Production: Nothing to Call Home About

Petrobras reports that total gas and oil production rose to an average 2,075,000 barrels per day in September, an increase of 1.6%, compared to August. However, compared to September 2003, production remains stable.

September domestic production rose to 1,540,000 barrels per day, up 2.1% over August, but 1.2% less than September 2003.


Foreign production in the eight countries where Petrobras operates was 169,000 barrels per day, up 1.5%, compared to August, and up 0.5%, compared to September 2003.


Petrobras confirmed recently that Brazil will attain self-sufficiency in petroleum and natural gas production in 2006.


This assurance was given by the president of Petrobras, José Eduardo Dutra, during the announcement of the company’s new Strategic Plan for the period 2004/2010.


The forecast for the growth in demand through 2010 is on the order of 2.4% per year, whereas production should increase 5.9% per year, on the average, over the next seven years, when it will attain a daily average of 2.3 million barrels.


This represents a daily surplus of 550 thousand barrels in terms of the expected growth in demand.


To achieve this self-sufficiency, by 2005, when average daily production will be 1.78 million barrels, Petrobras will place in operation platforms P-38, P-43, P-48, and P-50, as well as an FPSO (Floating Production, Storage, and Offshore loading vessel), which will function in the South Marlin field.


Agência Brasil

Tags:

Ads

You May Also Like

Brazil Press Opposes Social Control Lula Wishes to Impose on Media

Luiz Inácio Lula da Silva, Brazil’s most popular president in recent history, seems to ...

Brazil Back in Space

Ukrania, China, the US, and Russia will participate in the new phase of Brazil’s ...

Spain Ready to Help Brazil Enforce Mandatory Classes of Spanish

The first vice president of Spain, Maria Teresa Fernandez de La Vega, says her ...

Brazil Now Tries to Make the PPP Program Work

The president of the BNDES (Banco Nacional de Desenvolvimento Econômico Social – Brazilian Development ...

Brazil’s Lula and Venezuela’s Chavez Discuss Amazon Defense

The Brazilian Minister of Foreign Relations informed that, at the work meeting between President ...

Brazil Coaxing Russia to End Presto Its Embargo on Brazilian Meat

Brazil is in Moscow to discuss Russia’s resumption of pork and beef imports from ...

Online Private Club Privalia Betting Its Model Will Bloom in Brazil

With almost 193 million inhabitants and a prospective growth rate of 6% for 2010, ...

A Brazilian’s Take on Obama’s Oratory Power

Sometimes it is difficult to stand for the importance of words in politics. The ...

World Bank Chief Wants Brazil’s Ethanol and Social Programs Applied in Poor Countries

After visiting a mill that makes sugarcane-based ethanol, the president of the World Bank, ...

Brazil Pipeline to Add 80,000 Barrels of Oil a Day

Within three years, Brazil’s petroleum production should gain a reinforcement of 80 thousand barrels ...