Long established as a global giant in the oil and gas industry, Brazil is reported to have recently recorded increase in proven oil reserves.
The South American giant’s 2023 Annual Resources and Reserves Bulletin of the National Petroleum, Natural Gas, and Biofuels Agency (ANP) has informed that the country’s proven oil reserves are currently estimated at a stupendous 15,894 billion barrels of oil.
The disclosure was reportedly made back in March this year by the country’s national Public News Agency, Agencia Brasil, which disclosed that last year, South America’s unquestioned oil giant experienced a 6.98 per cent increase in proven oil reserves, compared with 2022.