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

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Angola brings new deepwater project online
10 May 2021
Production at Zinia Phase 2 comes after years of upstream stagnation
Iraq renews gas drive
8 May 2021
Baghdad turns again to China to develop its second largest gasfield
European power trading innovation: Old dogs learn new tricks
7 May 2021
The founders of Energy Quantified by Montel have built analysis models before. But this time they have torn up the rulebook
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video