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12/05/2017 - 13:28hs
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Petrobras output up

In the first quarter, the state-run oil company produced 2.805 million barrels of oil equivalent per day, up 7% from a year ago.



Rio de Janeiro – Total oil and natural gas production by Brazil’s state-owned oil company Petrobras was up 7% year-on-year in Q1. From January to March, the company produced 2.805 million barrels of oil equivalent per day (boed).

Oil-only output averaged 2.182 million barrels of oil per day (bpd), up 10% year-on-year. According to president Pedro Parente, the only drop in operating results for Petrobras was a 5% decline in domestic sales of oil products, which amounted to 1.961 million bpd.

Parente said Petrobras also improved its net exporting position with a 72% increase in foreign sales. Imports slid by 40% in Q1.

*Translated by Gabriel Pomerancblum

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