Petrobras Production Slips

May 4, 2019

World Energy Reports LLC.
grafico_PT.png

Oil production by Petroleo Brasileiro SA fell 3.5 percent in the first quarter from the same period a year before, according to Brazil's oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages.

In a statement, the regulator said the production declines were due to maintenance work and other interruptions in January and February at platforms and FPSO units owned by Petrobras, as the firm is known.

The fall in production, to roughly 2.4 million barrels of oil equivalent per day (boe/d), comes even as Petrobras initiated operations at three platforms in March in Brazil's offshore, pre-salt oil area, considered the nation's most prolific oil producing zone.

Production at Petrobras has been hit by a decline in investments in the firm's more traditional onshore and 'post-salt' offshore assets. The company is also divesting many of its legacy oilfields, but relatively few of those sales have so far closed.

In Brazil as a whole, oil production rose 0.96 percent in annual terms to 3.261 million boe/d in March, the ANP said.

While Petrobras has historically divulged monthly production statistics, it has not done so since January. On Thursday evening, the firm informed Reuters it would shift to quarterly reporting of oil production.

The company is due to report its first quarter financial results on May 7.


(Reporting by Roberto Samora; Writing by Gram Slattery Editing by Alistair Bell)

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
  • Online database -- The online database is updated every day – with information direct from primary sources. In the database are details for 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request Free Trial