Brazil sets new oil production record in January with 3.274 million barrels a day

Brazil beat its oil production record in January, achieving an average of 3.274 million barrels per day.

This was 6.5 percent more than in December and eight percent higher than in January 2022, reported the state-run National Agency of Petroleum, Natural Gas and Biofuels (ANP).

According to the monthly bulletin released Thursday by the ANP, oil production in January surpassed the record of October 2022, when an average of 3.148 million barrels per day was achieved.

For its part, natural gas production in January was 143.215 million cubic meters per day (m³/d), an increase of 2.2 percent over December and 4.2 percent compared to January last year.

Thus, the combined production of natural gas and oil was 4.175 million barrels of oil equivalent per day (BOE/D).

The main producing areas were the offshore fields, which concentrated 97.9 percent of the oil and 86 percent of the natural gas.

The Brazilian state-owned company Petrobras was the largest operator, alone or with other companies, accounting for 89.98% of the total produced.

The Tupi field, in the Santos Basin (southeast coast), had the highest production in the country in January: 804,400 barrels of oil per day and 38.54 million m³/d of natural gas per day.

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