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Oil reserves in Brazil increased in 2023, according to the ANP. There was 6,98% growth in proven reserves and a record replacement rate. Despite this, the country still does not match other nations in terms of reserves
In the global oil scenario, Brazil marks its presence with a significant increase in its work?, revealed by the Annual Bulletin of Resources and Reserves of the National Petroleum, Natural Gas and Biofuels Agency (ANP) for the year 2023.
This report highlights not only a growth in proven oil reserves, but also offers insights about the national energy panorama and its role in the international market.
Quality of national oil: Brazil contributes 3,4% of world production
According to data released by the ANP, proven oil reserves increased by 6,98% compared to the previous year, totaling 15,894 billion barrels.
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This growth is accompanied by an increase of 3,81% in the volume relative to the sum of proven and probable reserves, reaching 22,779 billion barrels.
And 2,26% in the sum of proven, probable and possible, reaching 27,531 billion barrels.
The replacement rate of proven oil reserves, which represents the relationship between the appropriate volume and the volume produced in the period considered, reached 183,54%.
This equates to around 2,278 billion barrels in new reserves, a positive indicator for the brazilian oil industry.
International Scenario: Comparing Brazil's Oil Reserves with other countries
According to an explanation by geologist and professor Jorge Picanço Figueiredo, from the Institute of Geosciences and Petroleum Engineering of the Polytechnic School of the Federal University of Rio de Janeiro (UFRJ), although Brazil is not among the global leaders in proven reserves, its position is still relevant.
Comparatively, countries such as the United States, Russia, Saudi Arabia, Iraq, Iran and Venezuela have higher volumes of reserves.
Despite growth, Brazil's position in proven reserves is not as significant as that of other countries. Let's look at some numbers:
- United States: 68,8 billion;
- Russia: 107,8 billion;
- Saudi Arabia: 297 billion;
- Iraq: 145 billion;
- Iran: 157 billion;
- Venezuela: 303 billion.
Figueiredo also highlights the quality of Brazilian oil and the country's high production, which reaches 3,5 million barrels per day.
Of this production, around 1 million barrels per day are exported, contributing significantly to the international market.
However, national consumption is around 2,5 million barrels per day, showing a considerable surplus.
Furthermore, the professor emphasizes the continued role of oil as the main global energy source, predicting that this trend will last for at least another half century.
The world currently consumes 105 million barrels of oil per day, of which Brazil contributes 3,4%.
Do you know where the oil comes from?
Source: Agency Brazil
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