FILE PHOTO: People walk in front of the headquarters of Petroleo Brasileiro S.A. in Rio de Janeiro, Brazil March 9, 2020. REUTERS/Sergio Moraes/File Photo
In a securities filing, Petroleo Brasileiro SA, as the state-controlled company is formally known, said it produced 2.802 million barrels of oil equivalent per day in the second quarter. That was up 6.4% from the same period last year, but down 3.7% from the first quarter. Petrobras attributed the reduction to the idling of shallow-water platforms, coronavirus outbreaks on offshore facilities and reduced demand. The company had previously announced the plans to hibernate 62 shallow-water platforms, whose lifting costs tend to be relatively high.
In July, Petrobras indicated that output has been strong at its Buzios oilfield, Brazil’s second most productive. Four platforms operating there hit a monthly record of 844,000 boepd, Petrobras said.
Source: News Formal (newsformal.com)
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