Brazilian state-owned oil company Petrobras said on Thursday that some of its costs in a key oil-producing region plunged in the third quarter, a positive sign given that the company is making a huge bet on the region.
In a securities filing announcing its third-quarter results, Petroleo Brasileiro SA, as the company is formally known, said the cost of lifting a barrel of oil from the offshore pre-salt formation had fallen to $5.03, down 20% from the second quarter.
Brazil Energy Insight 
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