ANP Reports Petrobras Oil And Gas Production Rises 8.1% In January 2021

Written by Roberta Souza

Published on 18/02/2021 at 21:48

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According to ANP Data, Compared to December, Petrobras’ Oil and Gas Production Increased by 8.12% in January

According to data from the National Agency of Petroleum, Natural Gas and Biofuels – ANP, in January, Petrobras saw an 8.1% increase in its oil and gas production. The growth in January halted four consecutive months of decline for the state-owned company in operational data due to the concentration of platforms planned to be shut down in the second half of 2020.

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Oil and Gas Production:

Last month, the state-owned company produced an average of 2.755 million barrels of oil equivalent (BOE/day), the highest level since September of last year. However, according to ANP data, the oil company’s production at the beginning of 2021 was 6.95% lower than the level reported in January 2020, one year ago.

In January, Petrobras produced 2.140 million barrels of oil per day and 97.878 million cubic meters of natural gas per day. Compared to December, oil production last month grew by 7.9% and natural gas production increased by 8.8%. Year-over-year, compared to January 2020, the company’s oil production fell by 7.7% and natural gas production decreased by 4%.

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Production Calculation:

ANP and Petrobras use different methods to calculate oil production – for example, the state-owned company considers liquids in natural gas, while the agency includes condensate but does not include shale oil produced in São Mateus, Paraná. In any case, the regulators’ data can provide a good indication of expectations for state-owned companies’ quarterly production reports.

ANP Reports Petrobras Oil And Gas Production Rises 8.1% In January 2021

According to ANP Data, Compared to December, Petrobras’ Oil and Gas Production Increased by 8.12% in January

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ANP Reports Petrobras Oil And Gas Production Rises 8.1% In January 2021

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