Petrobras: P&G production falls 3.5% in q2

Petrobras reported last Tuesday (21), that due to impacts arising from the pandemic, oil and natural gas production in Brazil fell 3.5% in the second quarter compared to the first. According to the company's second-quarter production and sales report, 2.757 million barrels of oil per day (MMboed) were produced from April to June, up from 2,856 MMboed in the first three months of the year.

Oil and LGN (natural gas liquid) production fell 3.2% compared to quarterly to 2,245 MMboed. While production in the pre-salt fields (1,527 MMboed) was 1% lower than the previous quarter.

The state also highlighted that the drop in demand was stronger in April, with recovery in The Months of May and June. However, according to the company, the pandemic caused Petrobras to hibernate platforms that are not resilient to the low price of oil at the time, in addition to temporarily halting production of some platforms in the Campos and Santos basins. 

"Despite the difficulties faced, we were able to keep oil production in Brazil at the planned level," Petrobras said in a material fact sent to the Brazilian Securities and Exchange Commission (CVM).

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