Petrobras Sub-Salt Oil Production Hits 700,000 Barrels per Day

Reuters

SAO PAULO, Dec 23 (Reuters) – Brazil's state-run oil firm Petroleo Brasileiro SA saw oil production from its deep-water sub-salt fields reach about 700,000 barrels per day (bpd) in mid-December, according to a Tuesday securities filing.

The company, known as Petrobras, also said its total oil and liquefied natural gas production reached a record 2.286 million barrels per day on December 21.

Petrobras preferred shares are down over 35 percent this year as the company struggles with an uncertain outlook for oil prices and an ongoing corruption investigation.

(Reporting by Asher Levine Editing by W Simon)

 

 

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