Petrobras Exec Flags Production Boost During Second Quarter

(Reuters, 8.May.2019) — Oil and gas production at Petroleo Brasileiro SA is on the rise in the second quarter, and has been above 2.8 million barrels of oil equivalent per day (boepd) so far in May, a company executive said on Wednesday.

In a call with analysts following the release of first-quarter results, Exploration and Production Director Carlos Alberto de Oliveira reaffirmed the firm’s production goal of 2.8 million boepd for 2019. In the first quarter, the firm reported oil production of 2.538 million boepd, as output was hit by a number of stoppages.

(Reporting by Gram Slattery Editing by Marguerita Choy)


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