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Monday 19 January 2009
Brazil's Petrobras: Production up 4.3 pct in '08
Brazil's state-run oil company says its total petroleum output jumped 4.3 percent last year compared to 2007. Petroleo Brasileiro SA reports oil and natural gas production reached 2.4 million barrels a day driven by strong domestic output, which accounts for the vast majority of activity. Petrobras said Friday in a statement that domestic production rose to nearly 2.2 million barrels a day. International oil production fell 2 percent to 123,600 barrels a day, while gas was down 8.2 percent to 17,000 cubic meters daily. The company blamed the drops on decreased production in mature fields and a strong hurricane season in the U.S.
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