Taking a fall: Brazilian giant Petrobras
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Petrobras output takes a tumble
Brazilian giant Petrobras saw its domestic oil output fall 2.3% in October from September's figures - its fourth straight monthly drop - with production falling 5% year-on-year as rig glitches took their toll.
Petrobras, which accounts for nearly all crude production and refining in Latin America's largest country, said in a statement that it pumped an average of 1.73 million barrels per day last month, below last year's average of 1.78 million bpd.
The company said it had programmed stoppages at the Garoupa and Corvina fields and had to halt a 60,000 bpd rig at the Albacora field to repair a riser pipeline.
Output has since resumed at the three fields.
Petrobras expects the production drop to be reversed soon as production starts at the Piranema and Golfinho light oil fields, with two big platforms are due for start-up on the Roncador heavy oil field before the end of the year.
Petrobras expects an average annual output growth of over 7% through 2012.
Natural gas production in Brazil edged up 0.7% in October from September to 42.6 million cubic metres per day.
The company's international oil output fell 3.4% to 124,175 bpd due to lower production in Venezuela and Argentina.
Natural gas production abroad fell 3% to 18.6 MMcmd.