Last Updated :
03 February 2012 at 15:05 IST
Crude oil: Brazil output hits record in 2011
SAO PAULO(Commodity Online): Brazil's crude oil and natural gas output hit a record high in 2011, as per latest data by the National Petroleum Agency showed. Brazil is the ninth largest oil producer in the world.
The country produced 768 million barrels of crude oil and 24 billion cubic metres of natural gas last year. Total output was at 919 million Barrels of Oil Equivalent (BOE) with the average daily output at 2.52 million BOE.
New oil and gas discoveries continued to boost the overall output. It's pre-salt oil deposits could in fact make the country one of the largest oil producers in the world. On Tuesday, Brazil's biggest private oil company, OGX Petroleo e Gas Participacoes SA, had started production.
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