Petrobras oil and gas production back to growth
Brazilian state-run Petrobras reported total oil and gas production in April at 2.68Mboe/d.
This represents the lowest daily volume since April 2016, when the company produced 2.687Mboe/d, but it is the first growth after six consecutive months of falling output.
Compared with a year ago, Petrobras' production was down 1.5%. Total company production, including Petrobras and partners, was 3.33Mboe/d, of which 3.20Mboe/d were produced in Brazil.
Average oil production in the country reached 2.09Mbp/d, up 1% from March. This result was mainly due to the end of the maintenance stoppage of FPSO Cidade de Angra dos Reis in Lula Field, and the start of production of the FPSO P-74 in Búzios Field, both in the Santos basin pre-salt. Production of natural gas, excluding liquefied volume, was 79Mm3/d, up 1.2% from the previous month.
Oil output overseas was 58,000b/d, down 5% from March, while natural gas production amounted to 6.3Mm3/d, 1.6% below the volume produced in the previous month. The reduction was due to maintenance in Saint Malo and Lucius fields in the USA.
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