China News Service, São Paulo, May 4 (Reporter Lin Chunyin) Data released on the 4th by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) showed that Brazil’s total oil and gas production in March this year reached a record high of 5.531 million barrels of oil equivalent per day.
According to the data, Brazil’s crude oil production in March was 4.247 million barrels per day, an increase of 4.6% month-on-month and 17.3% year-on-year; natural gas production was 204.11 million cubic meters per day, an increase of 3.3% month-on-month and 23.3% year-on-year. Among them, pre-salt oil and gas production reached 4.421 million barrels of oil equivalent per day, accounting for 79.9% of the national total, a year-on-year increase of 19%, continuing to be the core source of production growth.
In terms of production structure, offshore oil fields contributed 98% of crude oil and 87.8% of natural gas production; projects led by Petrobras (including joint ventures) accounted for 88.23% of the national total production. As the world’s largest deepwater oil field, the Búzios oil field in the Santos Basin remains the country’s largest oil-producing area, while the Mero oil field leads in natural gas production.
Petrobras announced on May 1 that all phases one to seven of the Búzios oil field have been put into production, and the P-79 platform for phase eight has been approved for production three months ahead of schedule, with a designed crude oil production capacity of approximately 25,000 tons (180,000 barrels) per day, a natural gas processing capacity of 7.2 million cubic meters per day, and an external transmission capacity of 3 million cubic meters per day. The commissioning of the phase eight project will help the Búzios oil field achieve a production capacity of over 1.3 million barrels per day, continuously boosting national oil and gas production, and further enhancing Brazil’s oil and gas supply capacity.
Analysis suggests that the situation in the Middle East has had a significant impact on the global energy market. Due to disrupted shipping through the Strait of Hormuz, global oil supply has tightened, with Brent crude oil prices rising from approximately $70 per barrel to $114 per barrel within two months. Under the international oil price linkage mechanism, even with Brazil’s continuously rising domestic production, it is still difficult to completely avoid imported inflationary pressure. Experts point out that to cope with external uncertainties, Brazil is accelerating the enhancement of its domestic oil and gas production capacity to reduce dependence on the international market; at the same time, the government is adopting measures such as tax reductions and exemptions, and subsidies for producers and importers, to buffer the impact of rising oil prices on the economy. (End)
