Brazil’s oil, natural gas output hits record high in January

Brazil’s oil and natural gas output hit a record high in January, the Brazilian government said Wednesday.

Last month’s oil production reached 3.17 million barrels per day, up 1.99 percent compared with December and up 20.43 percent year-on-year, according to the state-run National Agency of Petroleum, Natural Gas and Biofuels.

Daily natural gas output reached 138.75 million cubic meters, up 0.71 percent from December and up 22.58 percent year-on-year.

Brazil boasts giant fuel reserves in deep waters off its Atlantic coast and have only recently begun to exploit them.
Source: Xinhua