Brazil sets record oil output in June

Brazil’s oil production totalling 2.79 million barrels of BOE (barrel of oil equivalent) set a record in June, according to National Petroleum Agency (ANP) data.

The volume is 2.6% higher than that registered in May of 2014 and 6.9% higher than the volume registered in June of 2013, according to a report published by The Rio Times.
Oil production in June also surpassed the previous production record of 2.721 million BOE set in January 2012. ANP also announced that the country produced 86.6 million cubic meters of natural gas during the month.
The volume is 2.4% higher than in May of 2014 and 8.2% greater than in June of 2013. As for the pre-salt basins, the total production of oil and natural gas increased by 6.2% in comparison to May of 2014.
Nearly 90% of all petroleum and natural gas produced in Brazil comes from oil fields operated by state-owned giant, Petrobras.
According to the US Energy Information Administration (EIA), the world’s largest oil discoveries in recent years have come from Brazil’s offshore, pre-salt basins.