Could record oil production attract commercial investment in Brazil?
Date added: 17th September, 2010 at 09:24
(view all articles from September, 2010)
Categories: Natural Resources, Rio
Commercial investment in Brazil may rise, as the country's National Petroleum Agency ANP announced the nation had produced its highest ever amount of oil in August.
With an output of 2.078 million barrels a day, Latin America's largest economy beat its previous record of 2.077 million, with the most productive state Rio de Janeiro accounting for 78.1 per cent of the total.
ANP director Victor Martins said people will be able to track the Brazilian oil industry more easily, as these figures will now be released on a monthly basis.
"This record shows that new production facilities are coming online and it reflects the work that has been done over the years," Reuters quoted him as commenting.
Oil company Petrobras saw the higher output of all firms operating in the field, accounting for 92 per cent of all oil extracted in August.
Founded in 1953, the state-run business has more than 100 production platforms.
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