Petrobras posts daily production growth
Brazil’s state-owned oil company saw growth in the average amount of oil it produced last month – ending three consecutive months of reduced productivity, it has emerged.
Petrobras announced on Wednesday that it produced an average of 2.157 million barrels of oil per day in April which is two per cent up on March and 5.1 per cent up from the same month last year.
It also announced that oil production in domestic fields recorded a growth of 3.6 per cent compared to the same month in 2007 and 2.3 per cent higher than the previous month.
The firm predicts that its daily production capacity should increase by 500,000 barrels in 2008, "with the entry into operation of four other platforms – three of them in the Campos Basin, and one offshore in the state of Espirito Santo," a company statement explained.
Meanwhile, the firm announced earlier in the week that its investment should total $54 billion (£27 billion) this year.
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