A total of BRL 37.6 billion and BRL 36.8 billion have been distributed to states, municipalities, and the federal government in royalties and special stocks respectively—up 65 percent from 2020.
Brazil set a new record for oil production in 2019 and exceeded the 1 billion barrels a year threshold for the first time. The exact output stood at 1.018 billion barrels—up 7.78 percent from the amount produced in 2018, 944.117 million barrels.
Petrobras estimates investments to total $75.7 billion in the next five years starting in 2020. The company's new business plan was approved Wednesday (Nov. 27) by its administrative board. Roughly 85 percent of the investment should go towards exploration and production.
The total production of oil and gas of Petrobras averaged a daily 3 million barrels of oil equivalent in August this year. The output peak reached 3.1 million barrels in one day, in record figures.