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LatinNews Daily - 03 July 2024

In brief: Brazil’s oil and gas production up in May

*Brazil’s federal oil and gas regulator (ANP) has released the monthly production figures for May, which show a total production of 4.23m barrels of oil equivalent per day (boepd) of oil and natural gas. Oil production totalled 3.32m barrels per day (bpd), up 3.9% from the previous month and up 3.6% from May 2023. Natural gas production came to 145.63m cubic metres per day (m3/d), up 6.6% in monthly terms and 0.8% in yearly terms. The basin which registered the highest figures in May 2024 was the Santos pre-salt basin, near Brazil’s south-eastern coastline, producing 755,460 bpd of oil and 37.01m m3/d of natural gas. In the Santos basin, the Guanabara offshore processing unit in the Mero field, which is operated by state-controlled oil company Petrobras, was the facility which produced the most oil (179,546 bpd) and natural gas (11.68m m3/d) in May.

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