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COVID-19 - News digest as of 22.10.2021

October 22/2021

1. Petrobras reports mixed Q3 2021 production figures

MOSCOW (MRC) -- Brazil"s state-run oil company Petrobras, formally known as Petroleo Brasileiro SA, posted mixed production figures on Wednesday as the state-run oil company ramps up output at some major oilfields while also jettisoning a number of legacy production assets as part of a wider divestment drive, reported Reuters. In a securities filing, Petroleo Brasileiro SA said it produced 2.83 MM barrels of oil equivalent per day in the third quarter, up 1.2% in quarterly terms, but down 4.1% from the same period last yr. Crude production came in at 2.269 MM barrels per day (bpd), a 1.9% increase in quarterly terms and a 4% decrease from the third quarter of 2020. Among the highlights of the quarter, the company said, was the entrance into operation of the Carioca, a type of massive offshore platform known as an FPSO, in the deepwater Sepia field. The firm also has begun commercially producing gas at its P-69 platform in the Tupi field, Petrobras said.

2. Crude oil futures drop in Asia as pandemic concerns weigh on demand outlook

MOSCOW (MRC) -- Crude oil futures were lower during mid-morning trade in Asia Oct. 22, as sentiment was impacted by pandemic concerns which could weigh on demand outlook, reported S&P Global. At 11:15 am Singapore time (0315 GMT), the ICE December Brent futures contract was down 36 cents/b (0.43%) from the previous close at USD84.25/b, while the NYMEX November light sweet crude contract fell 29 cents/b (0.35%) at USD82.21/b. Oil prices slid after Russia announced the implementation of pandemic-related restrictions in Moscow as COVID-19 infections and deaths have spiked. Russian president Vladimir Putin Oct. 20 approved a "non-working week" from Oct. 30-Nov. 7 to help slow the spread of the virus.
Author:Margaret Volkova
Tags:Asia, crude and gaz condensate, medicine, petrochemistry, Petrobas, COVID-19, Brazil, Russia, USA.
Category:General News
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