Brazil set a record for average annual oil and gas output last year. Oil production increased by 2.47% from the previous high in 2020 (2.948 million bbl/d) to 3.021 million barrels per day (bbl/d). The average annual output of natural gas increased by 2.98% to 138 million cubic meters per day (m3/day) in 2022 from the previous record-setting year of 2021 (134 million m3/day). A total of 3.955 million barrels of oil equivalent per day (boe/d) were produced in 2022, of which 3.074 million bbl/d of oil and 140.14 million m3/d of natural gas were produced. There was an 8.3% increase as compared to December 2021.
Sources: Agencia Brasil/Portos e Navios (*Translated by Ia Niani)