Brazil’s Petrobras expects to drill 65 new wells in 2016

May 12, 2016 

Brazil’s state-run oil company Petrobras expects to drill 65 new wells in 2016 and kept its forecast for average output during the year at 2.145 million barrels per day, the company said in a presentation after its quarterly earnings release on Thursday.

Petroleo Brasileiro SA, as the company is officially known, reported a quarterly loss of 1.25 billion reais ($358 million).

($1 = 3.4816 Brazilian reais) (Reporting by Jeb Blount, Marta Nogueira and Rodrigo Viga Gaier; Editing by Chris Reese)

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