Related Articles
Forward article link
Share PDF with colleagues

Pre-salt buoys Petrobras

Booming crude production in the region is helping to offset financial shock caused by Covid-19

Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic times return. In Latin America, Brazilian state-controlled oil firm Petrobras is a rare exception. The company’s domestic production grew by 9pc year-on-year across the first three quarters of 2020, eclipsing previous guidance. This was achieved despite the Covid-19 pandemic sinking global energy demand and Brazil suffering one of the highest mortality rates in the world. Petrobras estimates production will end 2020 at an average of 2.8



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
North Sea independents aim to reap carbon footprint benefits
3 December 2021
Two of the basin’s larger producers consider ways to cash in on relatively greener production
Southeast Asian NOCs take different paths
3 December 2021
Petronas, PTT and Pertamina are pursuing divergent strategies after coming to dominate the region’s upstream in recent years
Aramco back to petchems drawing board
3 December 2021
The Saudi heavyweight’s international downstream expansion strategy will need another reboot
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video