Brazil’s oil, gas production falls to lowest in 14 months
RIO DE JANEIRO, March 3 (Reuters) -- Output of oil and natural gas in Brazil fell to its lowest in 14 months in January as companies performed maintenance on offshore oil platforms, the country's petroleum regulator ANP said on Thursday.
Forty-three companies in Brazil produced an average of 2.965 million bpd of oil and equivalent natural gas in the month, 3.6% less than a year earlier and 6.3% less than it produced in December.
Petroleo Brasileiro SA, or Petrobras, plans to increase oil platform maintenance shutdowns through June, taking advantage of low oil prices and low demand to fix and upgrade equipment, Reuters reported on Monday.
Petrobras was the biggest producer in January despite the platform shutdowns. It accounted for 2.408 million bpd of output in the month, or 81% of Brazil's total.
BG Group, which became part of Royal Dutch Shell on Feb. 15, was the second largest producer, with 206,778 bpd.
Together, Shell and BG would have had 240,868 bpd. Shell was the No. 6 producer in the month with 34,090 bpd.
Shell expects its output in Brazil to quadruple to about 1 million bpd by 2020, the company said last month.
(Reporting by Jeb Blount; Editing by Chris Reese)
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