Brazil’s Petrobras boosts oil production, abandons refinery plans amid upstream push

Brazilian state-run oil firm Petrobras flagged another major production boost on Wednesday, while formally scuttling a refinery project outside Rio de Janeiro, underlining its laser-like focus on offshore oil exploration and production.

At a breakfast with journalists, Petrobras Exploration and Production Director Carlos Alberto de Oliveira said the firm would produce more than 2.7 million barrels of oil equivalent per day (boepd) in 2019, with total production coming in on the upper end of the firm’s target range.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.