Business News Americas: ANP, Shell refute output fraud accusations – Brazil: Posted Wednesday 12 October 2005 

(BNamericas.com) - Brazil's hydrocarbons regulator ANP and Anglo-Dutch oil company Shell have refuted accusations made by a local lawmaker that Shell has underreported production at the Bijupira-Salema offshore fields in the Campos basin, local press reported.

ANP carries out regular inspection of Shell's production monitoring devices and did not find anything suspicious, ANP director John Forman was quoted as saying.

For its part, Shell said in a statement that production monitoring is performed by high-precision devices submitted to regular inspection by the ANP.

Congressman Luciano Zica of the ruling Workers' Party (PT) said last week he would solicit detailed information from ANP about production at the fields after workers at federal energy company Petrobras (NYSE: PBR) said Shell might be underreporting production. Shell said the fields produce some 40,000 barrels of oil a day. Shell is the operator and owns an 80% interest in the fields. Petrobras has the other 20%.

Shell is the only foreign company producing oil in Brazil. - (BNamericas.com)

Click here for ShellNews.net HOME PAGE