*Brazil’s federal oil and gas regulatory agency (ANP) has released its production figures for 2024, which put oil and gas production at 4.32m barrels of oil equivalent per day (boepd). This marks a 0.5% decrease from the average production level of 4.34m boepd in 2023. Oil production last year came to 3.36m barrels per day (bpd), down 1.29% from 3.40m bpd the previous year. Annual production for natural gas came to 153m cubic metres per day (m3/d), up 2% from 150m m3/d in 2023. Brazil’s largest oil company, the state-controlled firm Petrobras, also released its annual production figures yesterday, which also showed a decrease from 2023. Petrobras’ total production last year of oil, natural gas, and liquefied natural gas (LNG) totalled 2.70m boepd, down 3.0% from 2.78m boepd the previous year.