Petrobras August production its best ever

Petrobras August production its best ever

Amid all its woes Brazil’s state oil giant Petrobras took some crumbs of comfort on Wednesday as it announced its output for August set a monthly record for the company, according to different web sources.

The month’s daily average of 2.88m barrels of oil and equivalent natural gas was a 4.5% improvement on July.

Petrobras credited the boost to the production from a new platform in the Santos Basin pre-salt area offshore Sao Paulo by about 300km southeast.

The good news was a slight counter to all the negativity swirling around Petrobras: its huge debts (most of any oil company in the world); being downgraded recently by Standard & Poor’s rating agency; the slumping price of oil; its chairman taking an almost three-month leave of absence; and, of course, the shame, disgrace and financial burden of the bribes-for-rigged contracts scandal surrounding the firm and a host of other businesses at home and abroad.

The previous daily average per month best for Petrobras’ output was 2.86m barrels of oil equivalent per day (boed) achieved in December 2014.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

Related Posts