Petrobras Oil Output Up 12.4% to 1.91Mb/d in Jan

Brazil's federal energy company Petrobras (NYSE: PBR) produced an average 1.907 million barrels of oil a day (Mb/d) in January 2006 from domestic and international operations, up 12.4% from 1.70Mb/d in the same month of 2005, the company said in a statement late Friday.

Production was also slightly higher than the 1.906Mb/d produced in December 2005, the statement said.

Production for the whole of 2005 was 1.85Mb/d up 11.2% from 1.66Mb/d in 2004, the company said.

Domestic production was basically unchanged in January 2006 from December 2005 at 1.75Mb/d, while international output was slightly increased to 156,900b/d from 155,900b/d in December 2005.

Domestic and international natural gas production remained level at 58 million cubic meters a day in January 2006 from the previous month.

Combined oil and natural gas production in Brazil and abroad was 2.27 million barrels of oil equivalent a day (Mboe/d) in January 2006, the same as in December 2005.

Petrobras' oil and gas production in Brazil and overseas averaged 2.22Mboe/d in 2005 as a whole, a 10% increase over 2004.

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