Petrobras sets new oil record
Brazilian oil giant Petrobras is celebrating a new production record, which saw June output soar 4.2 per cent higher than last year’s monthly average.
The figures spell good news for those looking to invest in Brazil real estate with 1,867,000 barrels produced per day (bpd), reports Brazzil Magazine.
It smashes the company’s previous record – set in December 2007 – by 12,600 bpd.
Bosses credit the burgeoning production with new wells in the Roncador field, in the Campos Basin, and the Piranema platform in the sea of Sergipe.
Alongside record oil rates, the company is also enjoying good natural gas performance. During the second quarter of 2008 production increased 36 per cent on the same period last year.
Government-controlled Petrobras was founded in 1953 and is headquartered in Rio de Janeiro. It is recognised in the top ten oil-exploring companies in the world and is the most profitable company in Brazil’s economy.
