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Economy | Time: Jul 1 2020 2:23PM
Brazil's oil output grows by 7.8 pct in 2019
 
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Brazil's oil output grew by 7.8 percent in 2019 compared with the year before, averaging 2.8 million barrels a day, the state-run National Agency of Petroleum, Natural Gas and Biofuels (ANP) said Tuesday.

The increase was mainly driven by deep-sea oil drilling in the Atlantic Ocean pre-salt deposits, where Brazil has giant reserves which are just beginning to be exploited.

Production in pre-salt deposits accounted for 62.3 percent of the country's total output.

Natural gas output grew by 9.5 percent in 2019 compared with the previous year, marking the 10th year in a row of growth, with 123 million cubic meters a day.

Natural gas production in pre-salt deposits accounted for 57.9 percent of the total output.

Biodiesel output in 2019 rose by 10.3 percent compared with 2018, while ethanol production in 2019 increased by 6.9 percent year-on-year, reaching a record 35.3 billion liters.

Meanwhile, petroleum exports in 2019 reached a record 1.2 million barrels a day. Enditem

Source: Xinhua
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