Increased production: Petrobras raises output in April
Petrobras ups oil output in April
Domestic oil output by Brazil's state-run Petrobras rose 2.3% in April, reversing three straight monthly drops, said the company.
Petrobras said in a statement that it pumped an average of over 1.84 million barrels per day last month, a 3.5% increase over the year-earlier period.
The company said output increased after new wells were connected to offshore platforms working on the Roncador, Marlim and Pampo fields, and a new platform started pumping extra heavy crude on 31 March at the Badejo field.
Petrobras has a production target of 1.95 million bpd with a leeway of 2.5% this year, a Reuters report said.
Last year, it produced 1.79 million bpd.
Petrobras expects an average annual output growth of over 7% through 2012.
Natural gas production in Brazil in April edged up 4% from March levels to reach 50.1 million cubic meters per day, said Petrobras.
The company's international oil output dipped to 122,200 bpd from 122,700 bpd in March, and natural gas production abroad slipped to 17.27 MMcmd from 17.37 MMcmd.