Petrobras output climbs in Q1
Apr 28, 2021 3:10:pm
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by: Daniel Graeber
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Petrobras output climbs in Q1
Brazilian state energy firm Petrobras said April 27 that its combined production of oil, natural gas liquids and natural gas during the first quarter this year was 3.1% higher quarter-on-quarter, but 5% lower year-on-year.
Production averaged 2.77mn barrels of oil equivalent/day in the three-month period. Petrobras blamed the yr/yr fall on divestments and natural decline. It estimates that 11% of its upstream portfolio has reached peak production and entered the decline phase.
From its pre-salt basins offshore, the company said production was 7% higher than during Q4 2020, in part due to the start of operations at the Atapu field.
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19 April 2021 15:36 GMT Updated 19 April 2021 15:36 GMT in Rio de Janeiro
Joaquim Silva e Luna, a retired Brazilian Army General and former defence minister, has officially taken over on Monday as chief executive of state-controlled oil company Petrobras.
The leadership change takes place exactly
two months after Brazilian President Jair Bolsonaro unveiled plans to replace former Petrobras boss Roberto Castello Branco over a clash on the company’s fuel-pricing policy.
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In a ceremony at Petrobras’ headquarters in Rio de Janeiro, Silva e Luna became the 39th president in the company’s 68-year-old history and the first military man to take the reins since 1989.
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