Petrobras P&G reserves are lowest of the century

Petrobras' proven oil and gas reserves have reached the lowest volume of reserves in this century, according to data disclosed by the company itself. It is worth remembering that proven reserves correspond to volumes of oil and gas discovered under operating conditions and economic benefits to be marketed. The measures that are consumed, it is new discoveries need to be made to put them back; otherwise, the volumes will continue to fall.

To avoid this scenario, Petrobras would need to find out more oil than it draws from the sea – which depends on investment in exploration underground. However, not even the discovery of pre-salt prevented the state company closed the year 2019 with the lowest volume of proven reserves. In 2014, the year the oil company adopted as a priority to achieve financial goals rather than investing in the area operational development and the exploitation of new opportunities.

Proven booking calls are important for a oil and gas company because they show the sustainability of production in the in the long term.Despite the drop, Petrobras still has a comfortable volume reservations. However, the fall lights up a warning sign for the state.


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