Petrobras' Output Increases in 2001

Petrobras reported its daily average oil output in 2001 rose to 1.38 million barrels from 1.32 million in 2000 despite the loss of the P-36. Natural gas output rose to 41.03 million cubic meters per day from 38.36 million in 2000.

The 2001 record crude output exceeded Petrobras' latest production target for the year of 1.34 million bpd. The company was forced to reduce its targets several times last year from an initial 1.42 million bpd after the sinking of the rig in March and a five-day oil workers strike in October.