Petrobras oil production in Brazil grows 16.5% in Q4

Brazil’s Petrobras hit a new production record in Q4 of ca. 2.4 million barrels of oil equivalent per day (boepd), which means an increase of 16.5% on average production of oil and liquefied natural gas (LNG) compared to the same period in 2018. Compared to the third quarter, there was a 5.7% increase. The improvement in performance was largely due to the ramp-up of platforms in the prolific pre-salt formation, says the company’s report.

Source: G1 Globo