Our total oil and natural gas output in September was 2.88 million barrels of oil equivalent per day (boed), of which 2.75 million boed produced in Brazil, while 130,000 boed abroad. This is a 1.4 percent increase in the company's total production compared to August.
The total oil and gas output in Brazil is a new monthly record, having surpassed the 2.72 million boed achieved in August 2016. The average oil output in the country, which added up to 2.24 million barrels per day (bpd) in September, also set a new record.
At a meeting held on Monday, our Board of Directors approved the sale of 100 percent of our interests in Nansei Seikyu (NSS) to Taiyo Oil Company.
The new policy will be based on two factors: Parity with the international market - also known as PIP, which includes costs such as chartering vessels, internal transport costs, and port charges - plus a margin to be practiced to remunerate risks inherent in the operation, e.g., volatility in the exchange rate and port stay prices, as well as profits and taxes. The executive board has decided that we will not practice prices below this international parity. (...)
On Tuesday (Oct. 11) we signed a memorandum of understanding with Galp Energia with the objective of expanding our cooperation with this company, thus consolidating our strategic alliance.