Análisis 04-08-2017

Brazil is above Mexico and Venezuela as producer of Latin American oil

This week, Brazil became the world's 10th largest oil producer and the largest in Latin America, reaching 2.6 million barrels per day.

Data from the Statistical Yearbook 2017 of the National Petroleum Agency (ANP) reveal that the pre-salt already made Brazilian production grow more than that of Norway. "Among the countries that are not part of the Organization of Petroleum Exporting Countries OPEC, Brazil was responsible for the highest growth in production," says the ANP. Brazilian production grew by 3.2% in 2016, leading to Norway, which grew by 2.4%, and Oman, whose production grew by 2.4%.

While Petrobras is breaking records after production records in the pre-salt, it is becoming increasingly clear that the president of the company does not understand anything. His experience is to dismantle companies to sell them cheap, as he already did in Bunge and runs now against the time to liquidate Petrobrás. "There is a part of investments in the pre-salt that brings results, but most do not," he went on to say, scorning the largest oil reserve discovered in recent years.

In June alone, the daily average production of the Brazilian state-owned oil company in the pre-salt was 1.35 million barrels, reaching a record 1.42 million on June 19. This is already equivalent to 63% of all its monthly production. What the relative calls "deification" is the salvation of our company. Never before in the history of the oil industry, did a manager want to give up gigantic reserves and strategic, as Petrobrás president has been doing, despising the pre-salt.

Energia 16