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EIA expects new production milestones for US crude oil amid sustained global petroleum demand and rising prices

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The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to average 12.8 EIA forecasts the Brent crude oil price to increase the rest of 2023 and to approach $90 per barrel in late 2023.

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Acelen to invest $2.44 billion over 10 years to produce renewable diesel and SAF in Brazil

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Brazil’s Acelen will invest more than R$12 billion (US$2.44 billion) over the next 10 years in the production of renewable diesel and sustainable aviation fuel (SAF) through the hydrotreatment of vegetable oils and animal fat. The company is expected to start production in the first quarter of 2026. million vehicles.

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EIA forecasts growing liquid fuels production in Brazil, Canada, and China through 2023

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The US Energy Information Administration (EIA) forecasts that liquid fuels production in Brazil, Canada, and China will increase this year and next, contributing to growth in overall non-OPEC petroleum production. EIA expects Brazil’s production to increase from 3.7 million b/d) in 2021. million b/d in 2021 to 3.9

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Petrobras reaches its highest historical monthly oil production in Brazil

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Petrobras’ oil production in Brazil reached an average of 2,126,000 barrels per day (bpd) in October, corresponding to 0.4% rise in September’s production of 2,118,000 bpd. October was the company’s ninth consecutive month of oil production growth in the country. from September’s production of 2,239,000 bpd.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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Chevron Confirms first oil production from deepwater Papa-Terra offshore Brazil

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Chevron’s Brazilian subsidiary and Petrobras have started crude oil production from Papa-Terra’s floating production, storage and offloading vessel (FPSO) offshore Brazil. Papa-Terra has installed capacity to produce 140,000 barrels of heavy crude per day; the project is estimated to recover 380 million barrels of oil.

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Petrobras’ June oil production in Brazil up 1.7% exceeding 2M bpd; gas production reaches record

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Petrobras’s June oil production in Brazil averaged 2,008 thousand barrels/day (bpd), up 1.7% from May’s production of 1,975 thousand bpd. Including the production operated by Petrobras for its partners in Brazil, the volume reached 2,135 thousand bpd, up 2.1% from May’s production of 2,558 thousand boed.

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