Brazil Boosts Oil Reserves by Nearly 7% in 2023

In 2023, Brazil’s known oil reserves expanded by 6.98%, with reports showing a total of 15.894 billion barrels. The National Agency of Petroleum (ANP) revealed that this increase resulted from annual production, new projects, commercial declarations, and technical and economic revisions. The ANP’s report highlighted a reserve replacement ratio of 183.54%, adding about 2.278 billion […]

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