Lates News

Brazil's state oil company reached a new high in oil and gas production in the first quarter, with its refineries also operating close to full capacity. This highlights Brazil's increasingly important position in the global energy market amidst the impact of the Iran conflict. The company reported a 16% increase in oil and gas production, reaching 3.23 million barrels of oil equivalent per day. The refinery's capacity utilization reached its highest monthly level since 2014 in March, currently at 95%, reducing the need for fuel imports. The increase in production and refining capacity of Brazil's state oil company will help the country deal with the economic impacts of conflicts in the Middle East. The company's management has been working with the government to control rising fuel prices and ensure supply stability.