Oil & Gas Exploration
Brazil's Prio targets doubling of oil production in 2026 and cheers higher prices
Roberto Monteiro, the CEO of Brazilian oil company Prio, said that the company expects its daily production to double next year compared to 2024, due in part, he said, to some offshore fields being developed. Monteiro, Prio's CEO, said that the company expects to produce more than 200,000 barrels a day (bpd), up from 100,000 bpd last year. Prio, an independent oil producer, has grown in recent years by acquiring high-profile assets, such as the Wahoo and Peregrino fields from Equinor, Sinochem, and TotalEnergies. Monteiro explained that the production target reflects development of these assets. The company is currently waiting...