Brazil’s Petrobras set a new record for oil and gas production in the third quarter of this year.
The company produced 3.98 million barrel equivalents, showing a 7.8% increase from the last quarter.
Because of this, Petrobras plans to update its yearly production goals. They will announce these new numbers on November 9 and their financial results for the third quarter.
In September, the company also broke its monthly production record. It generated 4.1 million barrel equivalents, a 6.8% rise from August.
Specifically, production in the pre-salt layer reached 3.43 million barrels, another new high.
Petrobras credits two platforms in the Santos pre-salt basin for the boost in production. Since last December, the company launched four new platforms in this pre-salt area.
They expect another one to start by the end of this year. This will add 630,000 barrels to their daily output, thanks to a new facility called FPSO Sepetiba in the Mero field.
For some background, Petrobras is a state-owned oil company in Brazil. It’s a big name in the energy sector.
The company faced economic and political issues in the past but has bounced back. The Santos pre-salt basin is an area rich in oil beneath layers of salt.
New technology has made it easier to drill there. That’s why Petrobras is investing heavily in this region.
Brazil aims to be a stronger player in the global oil market, and Petrobras is central to that goal.
Still, the company has to consider environmental concerns and the ups and downs of oil prices.
More: Brazil news in English, every day from The Rio Times.
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+0.66%
172,457.76
+0.66%
71,204.98
-0.84%
10,660.26
+0.33%
2,848,945
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2,452.46
-0.02%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,457.76 | +0.66% | +9.73% | 171,324.31 | 172,715 | 171,132 | — |
| USD/BRL | 5.67 | +0.45% | +7.09% | 5.64 | 5.67 | 5.63 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| PETR4 | 45.30 | +1.34% | +39.43% | 44.70 | 45.44 | 44.62 | 23,431,200 |
| VALE3 | 63.50 | -0.70% | -3.30% | 63.95 | 64.24 | 63.12 | 11,175,700 |
| ITUB4 | 42.27 | +1.42% | +7.66% | 41.68 | 42.56 | 41.62 | 19,532,400 |
| BBDC4 | 14.52 | +1.40% | -25.46% | 14.32 | 14.54 | 14.27 | 32,353,600 |
| BBAS3 | 15.10 | -2.45% | -32.89% | 15.48 | 15.60 | 14.98 | 85,573,900 |
| B3SA3 | 14.89 | +0.88% | +2.90% | 14.76 | 14.94 | 14.53 | 34,792,900 |
| ABEV3 | 15.79 | +0.25% | +15.85% | 15.75 | 15.83 | 15.64 | 13,254,800 |
| WEGE3 | 51.31 | -0.66% | +14.48% | 51.65 | 52.05 | 50.93 | 7,741,000 |
| PRIO3 | 63.30 | +0.00% | +58.93% | 63.30 | 63.83 | 62.65 | 10,460,300 |
| SUZB3 | 54.77 | -2.27% | +14.92% | 56.04 | 55.98 | 54.66 | 3,845,300 |
| RENT3 | 30.07 | +1.66% | -28.47% | 29.58 | 30.35 | 29.58 | 7,599,300 |
| AZZA3 | 15.91 | -5.86% | -45.85% | 16.90 | 17.10 | 15.72 | 6,641,600 |
| CSNA3 | 3.72 | -12.06% | -56.79% | 4.23 | 4.14 | 3.71 | 54,060,600 |
| GGBR4 | 24.73 | -0.96% | +30.78% | 24.97 | 25.09 | 24.53 | 5,458,200 |
| ENEV3 | 26.81 | -0.70% | +38.98% | 27.00 | 27.09 | 26.64 | 5,990,500 |
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