Brazil, the world’s eighth-largest hydrocarbon producer, exceeded the 5 million barrels per day mark of combined oil and natural gas output for the first time in July, the National Petroleum Agency (ANP) reported.
Average oil and gas production in July reached 5.16 million barrels per day, up 23.3% from the same month last year and 5.3% higher than in June, according to data from the regulator.
ANP said oil production totaled 3.96 million barrels per day, an increase of 22.5% year-on-year and 5.4% compared with June.
State-controlled Petrobras, whose shares are traded on the stock exchange, remained Brazil’s top oil producer with 3.16 million barrels per day in July.
It was followed by multinational companies Shell (550,000 barrels per day), TotalEnergies (250,000), and China’s CNOOC (144,000).
Natural gas production reached 190 million cubic meters per day in July, representing growth of 26.1% from a year earlier and 5.1% compared with the previous month.
According to projections by the Brazilian Petroleum Institute (IBP), the country’s oil production will continue to grow, reaching 4.5 million barrels per day by 2031, when Brazil is expected to rank as the world’s fifth-largest producer.
