Petrobras Says 2020 Oil Output Averaged Record 2.28 Million BPD


January 7, 2021
(Photo: Petrobras)

(Photo: Petrobras)

Brazil's state-run oil company Petrolero Brasileiro SA produced a record 2.28 million barrels of oil per day on average in 2020, according to a securities filing on Thursday.

The combined oil and natural gas output of Petrobras, as the company is known, averaged 2.84 million barrels of oil equivalent per day last year.

The firm attributed the record output to better processing capacity at its Buzios field, a smaller production decline in the Tupi and Sapinhoá fields and better efficiency at its platforms.

(Reporting by Gabriel Stargardter Editing by Chris Reese)

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