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Brazil oil and gas production in November averaged 2.578 million boepd

Friday, January 3rd 2014 - 23:12 UTC
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Petrobras concentrates 88% of output Petrobras concentrates 88% of output

Brazil's oil and natural gas output rose 2.87% in November compared with the same month a year earlier as new oil fields came on line and platforms under maintenance returned to operation, Brazil's oil regulator, the ANP, said on Friday.

 Forty-five concession holders produced an average of 2.578 million barrels of oil and equivalent natural gas a day (boepd) in the month, the largest total in five months. Oil and gas output in November was 1.59% greater than in October.

The output was the third-highest since March 2012, after which emergency platform repairs, declining output from older fields and delays bringing new fields on line caused Brazilian output to fall. Output largely stagnated since then despite a 237 billion, five-year spending plan by state-run oil company Petroleo Brasileiro SA, or Petrobras.

Petrobras was the largest producer in November, owning 88% of Brazilian output. BG Plc surpassed Norway's Statoil ASA to become Brazil's No. 2 producer, with 55,464 boepd of output, 26% more than in October. Statoil dropped to third place after output slipped 0.1% to 54,351 boepd.

Categories: Energy & Oil, Brazil.

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