Petrobras Oil and Natural Gas Production Surged in 2Q24

The sales of petroleum derivatives in the domestic market recorded increase by 3.2% during the quarter.

SEATTLE (Oil Monster):  Brazilian petroleum industry major Petrobras reported production results for the second quarter of the current year.

According to news release, the oil and gas production averaged at 2.7 million barrels of oil equivalent per day (boed) during Q2 this year, which is marginally higher by 2.4% compared with the corresponding quarter a year before. The increased production was mainly on account of ramped up production from various FPSOs, along with entry into production of 12 new wells from complementary projects, it said.

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Upon comparison with the first quarter of the year, the production stood lower by 2.8%, primarily due to the loss in volume on account of maintenance shutdowns.

The sales of petroleum derivatives in the domestic market recorded increase by 3.2% during the quarter. The company has been focusing on sales of diesel and LNG, driven by favourable factors such as increased economic activity and lower average temperatures in the region respectively.

Petrobras reported fall in Q2 natural gas sales by approximately 3 million cubic metre per day, compared with the prior quarter. The natural gas imports by Petrobras from Bolivia too dipped by 2 million cubic metre per day.

The anchoring of FPSO Marechal Duque de Caxias in the Mero field was completed during the quarter. The platform is scheduled to start operating during H2 this year.