Petrobras oil exports decrease 28.5% in the 2nd quarter

Oil exports by Petrobras fell by 28.5% in the second quarter of 2022, compared to the same period last year, to 531,000 barrels per day (b/d), the oil company said in its quarterly production and sales report.

In comparison with the first quarter of this year, when it exported 543 thousand b/d, exports dropped 2.2%.

According to the company, the reduction was due to lower oil production, higher refinery load, higher oil sales in the domestic market, and lower exports in progress compared to the first quarter.

Petrobras’ oil, natural gas, and liquid natural gas (LGN) production stood at 2.6 million barrels of oil equivalent per day (BOE/day) in the second quarter, down 5% from the same period last year.

The oil company’s pre-salt production accounted for 73.2% of the total in the second quarter. As a result, the total production operated by the company registered a drop of 1.2% in the annual comparison, reaching 3.55 million BOE/day.

In its statement, Petrobras said the drop in production and exports was already expected and did not impact the annual target.

Source: Valor Investe 

To read the full original article, please go to: https://valorinveste.globo.com/mercados/renda-variavel/empresas/noticia/2022/07/21/exportacoes-de-petroleo-da-petrobras-recuam-285percent-no-2o-trimestre.ghtml

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