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Brazil's Petrobras Q3 oil production down 8.2%
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Brazil's Petrobras Q3 oil production down 8.2%
Nov 3, 2024 1:15 PM

SAO PAULO/RIO DE JANEIRO, Oct 28 (Reuters) - Oil giant

Petrobras' oil output in Brazil was down 8.2% year-on-year in

the third quarter, to 2.13 million barrels per day (bpd), the

state-controlled company said on Monday.

Petrobras also posted a 6.5% decrease in total production in

the period, to 2.69 million barrels of oil equivalent per day

(boepd).

Output from the firm's pre-salt fields, an oil-rich

offshore region off the country's southeastern Atlantic coast,

fell 2.7%, adding up to a decrease in production on Petrobras'

other fields.

According to Oil giant, total sales in the period were

down 3.2% year-on-year, to 2.97 million bpd, while exports fell

2.3%, to 804,000 bpd.

Meanwhile, 41% of the company's oil exports went to

China, marginally up from 40% a year earlier, but down from 50%

in the second quarter of 2024.

Europe accounted for 32% of Petrobras' exports in the

third quarter, stable from a year earlier. Latin America

decreased its share from 13% to 7% in the period.

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