Petrobras Oil Output Hit Record in 2020, Averaging 2.3 Million Barrels per Day

The boost in production came mostly from the development of fields in the so-called pre-salt zone in deepwater offshore Brazil, which has some of the lowest-cost deposits of crude in the world.

By Irina Slav for Oilprice.com

RIO DE JANEIRO, BRAZIL - Crude oil output from fields operated by Brazil's energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million barrels per day (bpd), Bloomberg reported, comparing the production rate to that of Kuwait.

This was pretty much in line with Petrobras's own estimate of average daily production in 2020, which stood at 2.28 million bpd, out of a total forecast hydrocarbons production rate of 2.84 million barrels of oil equivalent daily.

The boost in production came mostly from the development . . .

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