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Oil and gas company Petrotal said it had completed its first export of Bretana oil into the Atlantic region through Brazil to Novum Energy Trading for US$2.7 million.
The initial shipment of 106,000 barrels was arranged between PetroTal and Novum Energy Trading, to establish the viability of Bretana oil exports using the Amazon river through Brazil., the company said.
This provided PetroTal with an additional option to monetize oil sales, beyond the its existing sales arrangements with Petroperu using the northern oil pipeline, and to the Iquitos refinery, it added.
This would facilitate future oil production growth when the company continued development of the Bretana oil field, targeting to reach 20,000 barrels of oil per day in Q1 2022.
At 8:55am: (LON:PTAL) share price was 0p at 8.5p