Brazil’s oil production growth in the past few years has been poor, mainly due to maintenance, production reduction of old oilfields, delays in the commissioning of new production platforms, such as the TartarugaVerde oilfield, which was scheduled to start production at the end of 2017, until June 2018. But the industry believes that this year may be a turnaround year for Brazil’s oil production. The giant production platform P-67 operated by Brazilian National Petroleum Corporation and Shell has been put into operation in Lula Oilfield in early February. It may reach 150,000 barrels per day in the coming months. Brazil will launch several platforms in succession this year. The second platform is P-76. The daily processing capacity can also reach 150,000 barrels, and then P-68 and P-77.
| Benzalkonium chloride |
From 2020 to 2023, Brazilian Petroleum will install ten large-scale production and storage platforms one after another. Brazil’s oil minister said that Brazil’s oil production would increase substantially, possibly the second largest increase among non-OPEC oil-producing countries. Last December, Brazil produced nearly 27 million barrels of oil equivalent per day, the same as Kuwait and Iran. The main output of Brazilian Yanxia Oilfield is medium-heavy oil, which is an ideal raw material for diesel oil refining. Due to the initiative of OPEC and Canada to reduce production, the United States also sanctioned Venezuela and Iran, resulting in a shortage of such crude oil on the market. If Brazil’s crude oil production increases substantially, it may affect OPEC’s output reduction effect, and then affect the trend of international oil prices.