Wedoany.com Report-Dec 24, Brazil's oil production is expected to reach 3.6 million barrels per day (bpd) in 2025, up about 6 per cent from an accumulated average of 3.4 million bpd this year through October, according to the data from the Brazilian Petroleum Institute (IBP).
Brazil could earn 120 billion reals (US$19,4 billion) from oil in 2025, according to a study by the Brazilian Institute of Oil and Gas (IBP). This is reported by Brasil 247, a partner of TV BRICS.
The calculation includes royalties, special shares and profits from the sale of the production share transferred to the federal government. IBP estimates that between 2025 and 2028, the country's revenue from the commodity will be R$600 billion (US$97,3 billion).
"We are becoming an increasingly relevant country not only as an energy power but also as a traditional energy source," said Roberto Ardenghy, president of IBP.
The technical team at IBP also emphasised the importance of new frontiers to maintain oil and gas production levels in the country.
