Investment in Brazil to rise as oil production increases?
Date added: 27th April, 2011 at 10:11
(view all articles from April, 2011)
Categories: Natural Resources
Oil and gas output in Latin America's largest economy has increased over the last year, it has been claimed, which may encourage people to make an investment in Brazil.
State-owned energy company Petrobras stated that average production of the resources was 2,376,186 barrels of oil equivalent per day (boed) in March, including 2,039,891 boed of oil and 53.467 million cubic meters of gas.
This compares to the figures from the same period last year, when an output 1,993,763 boed of oil from domestic fields was recorded.
Meanwhile, gas production saw a yearly rise of 6.6 per cent but was similar to the volumes seen in February.
Overall, gas and oil output was up 2.9 per cent in March compared with the same period in 2010, with the amount of oil recovered alone increasing by 2.3 per cent.
Compared with February, there was a one per cent rise in oil and gas production from domestic fields.
Petrobras is the largest company in Brazil and the eighth biggest worldwide.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for investment in Brazil.
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