Brazil Sets New Oil and Gas Record in October at 5.255 Million boe/d

Overview

• Pre-salt fields produced 4.276 million boe/d in October, a 27.8% year-on-year rise that accounted for 81.4% of national output, according to the ANP.
• Petrobras reached 3.269 million boe/d in October, up 26.4% from a year earlier, and fields it operates alone or in consortia represented 90.68% of total production.
• Brazil's crude output hit 4.030 million bpd, up 23.2% year over year, marking the first sustained monthly level above 4 million bpd.
• Natural gas production rose to 194.7 million m³/day, with 97.2% utilized as flaring fell 32.7% from September and 51.7% from October 2024.
• Offshore areas supplied 97.8% of oil and 86.6% of gas, led by the Búzios field for oil (884,776 bpd) and Mero for gas (41.34 million m³/day).