Day: January 23, 2020

Anglo American's Q4 output rises on Brazil mine strength

Anglo American on Thursday reported a 4% increase in fourth-quarter production, driven by a ramp-up at its Brazilian Minas-Rio mine. “We have delivered our full-year production targets across the business. Increased production at Metallurgical Coal in Australia was offset by the drought at Los Bronces mine in Chile,” Chief Executive Officer Mark Cutifani said in a statement.

First time Brazil hits more than 1 billion barrels of oil a year

Brazil produced 1.018 billion barrels of oil in 2019, 7.78% more than the previous year, marking the first time the South American nation passed the billion-barrel mark for annual production, the national oil regulator Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) said. December also had a record of 3.106 million barrels per day, up 0.52% from the previous month and up 15.44% from December 2018.

Brazil will discuss OPEC membership with Saudi Arabia

Brazil’s Minister of Mines and Energy, Bento Albuquerque, said in New Delhi that during his trip to Saudi Arabia next July he will begin discussing possible membership to the Organization of Petroleum Exporting Countries (OPEC). Brazil aims to become one of the top five exporters of oil in 10 years, Albuquerque said during an official visit to India where Brazilian oil exports fell 23% in 2019.