Brazil Oil Output Rose 17% to 2.98 mbbls/d in October

Source: Reuters 12/3/2014, Location: South America

Brazil's oil and natural gas output in October rose 17 percent from a year earlier as state-run Petroleo Brasileiro SA and its partners started overdue offshore oil platforms, the country's oil regulator, ANP, on Wednesday.

Output rose to 2.98 million barrels of oil and equivalent natural gas a day (boepd) in the month, extending record output levels, and was up from 2.54 million boepd in October 2013, according to an ANP statement.

Output was 2.1 percent greater than in September.

The state-run producer, known as Petrobras, remained the main producer in Brazil by far, with 2.5 million boepd of output, or 84 percent of the country's total.

The No. 2 producer was BG Group Plc with 110,967 boepd, or 3.7 percent. The No. 3 producer was Royal Dutch Shell Plc with 55,412 boepd.


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