Brazil's petrobras September crude oil output 1.84 MMbopd

10/30/2012

Brazil's petrobras September crude oil output 1.84 MMbopd

BY JEFF FICK

RIO DE JANEIRO -- Petrobras produced 1.843 MMbopd of crude oil in September, marking a low point for the year as the company continues maintenance work at offshore platforms.

Petrobras said in a presentation for analysts that the company lost 77,000 bopd to planned maintenance stoppages during the third quarter, up from lost output of 52,000 bopd in the second quarter. In addition, natural production declines at the company's fields resulted in a decrease of 57,000 bopd in production, Petrobras said. September's production was the company's lowest monthly output so far in 2012.

Oil production, however, appears to have rebounded slightly in October, according to operational estimates provided by the company. Petrobras said that it expects October domestic crude oil production to reach 1.941 MMbopd.

Petrobras said third quarter net profit fell 12% year on year to 5.57 billion $2.75 as recent increases to domestic fuel prices failed to offset higher costs and heavy fuel imports. The net profit figure fell short of analysts expectations.

Dow Jones Newswires

 

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