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UPDATE 1-Brazil oil, natgas output falls to near 3-year low
November 8, 2012 / 7:30 PM / 5 years ago

UPDATE 1-Brazil oil, natgas output falls to near 3-year low

* Oil, gas output slips in September for third month

* Crude output down to 1.92 mln bpd, lowest since July 2009

* Shell passes Statoil to become No. 2 Brazil producer

SAO PAULO, Nov 8 (Reuters) - Brazil’s oil and natural gas output fell for the third straight month in September, slicing Brazilian production to its lowest level in nearly three years, the country’s petroleum regulator, the ANP, said on Thursday.

Brazil produced an average 2.38 million barrels of oil and natural gas equivalent per day (boepd) in the month, down 3.25 percent from 2.46 million in August, the regulator said in a statement.

Oil and natural gas output in September was 5.4 percent less than the 2.51 million boepd a year earlier and the lowest since January 2010.

Brazilian oil output has suffered in recent months because of declining output from mature fields owned by state-led oil company Petrobras and the shutting of ageing oil platforms for maintenance.

Petrobras’ output is falling despite the company’s $237 billion five-year expansion plan, the world’s largest corporate spending program.

Crude oil output fell to an average 1.92 million barrels per day in September, compared with 2 million bpd in August. Production fell 8.4 percent from the 2.099 million bpd the same month a year ago.

Oil output was at its lowest level since July 2009.

Shell surpassed Norway’s Statoil ASA to become the No. 2 producer after Petrobras, the regulator said. Shell produced 37,253 boepd in September, 2 percent less than in August.

Statoil produced 35,355 boepd in September, 6.3 percent less than a year earlier. Petrobras’ 2.16 million boepd of output represented 91 percent of Brazil’s production.

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