Petrobras production, profits drop in Q1

摘要

Rio de Janeiro—Petrobras’ production and profits fell in the first quarter of 2013, but refinery throughput is increasing, and the company’s cost reduction and efficiency programs are beginning to take effect, executives said April 29 at an event at company headquarters in Rio de Janeiro. Petrobras’ total Q1 production dropped to 2.552 million b/d of oil equivalent, from 2.614 million boe/d in the prior quarter and 2.676 million boe/d a year ago. The company’s March production in Brazil, including production for partners, was down 2.8% on February at 2.345 million boe/d.