INTERNATIONAL NEWS

Brazil’s State Oil Firm Grow Q2 Oil Production By 3.8%

Brazil’s state oil firm, Petroleo Brasileiro SA, said on Friday total second-quarter oil and gas production was 2.633 million barrels per day of oil equivalent (BOE), up 3.8percebt from the previous quarter.

Petrobras, as the company is known, said in a securities filing the rise was driven by the ramp-up of pre-salt platforms that entered into operation last year and earlier this year in the Búzios and Lula fields.

The oil company, which lowered its 2019 production target to 2.7 million BOE per day from 2.8 million BOE per day, also said pre-salt production accounted for 57percent of oil output in the second quarter.

Source: Reuters

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