Petrobras Reports Increase in Production for January

Brazilian energy major Petrobras’s average oil and gas production in January 2008, in Brazil, stood at around 2.12 million barrels of oil equivalent per day, a 3% increase when compared to the same period of the previous year.

Petrobras noted that, compared to December 2007, when around 2.14 million barrels of oil equivalent (boe) were produced per day, there was a 1.2% decrease due to a maintenance shutdown in an oil pipeline and because of the remanagement of a platform.

Considering the fields in Brazil and abroad, the company’s total oil and natural gas production averaged around 2.34 million boe per day in January 2008. This outcome was 2.6% more than a year ago, but 1% less than the total volume produced in December 2007.

The oil produced exclusively in Brazil was around 1.82 million barrels per day, which is 2.3% higher than a year ago, and 1.5% below the December 2007 mark.

The volume of oil and natural gas originating from the eight countries where Petrobras has production assets, in oil equivalent, was 227,042 barrels per day in January 2008, 1.4% more than a month earlier and stable compared to a year ago.