Federal Oil Production Hits Record High
For the first time, Brazil’s Federal Government oil production surpassed 100,000 boe/d, reaching 104,000 boe/d in October—a 4.4% increase over the previous month, according to Pré-Sal Petróleo (PPSA). This milestone makes the Union the fifth-largest oil producer in Brazil, alongside major players like Shell, TotalEnergies, Equinor, PRIO, and Repsol.
The increase was primarily driven by higher oil surplus from the Sépia Field. Natural gas production also hit a record, reaching 255,000 cubic meters per day—a 57% hike from the previous month.
“While total production in Brazil declined due to routine FPSO maintenance, this news underscores the sector’s resilience and growth potential,” notes Daniel Buckley, Chartering Manager at WSB Advisors.
Production: Fair Winds coming?
