Petrobras produces 2.03 mi of bpd but does not match meta

Petrobras produced 2,030,000 barrels of oil per day (bpd) in Brazil, in 2018. The numbers were a little lower than expected, which stipulated a goal of 2.1 million. Performance was pushed by delays for the delivery of platforms and asset sales.

In a statement, the oil company also highlighted the entry of four new production systems in operation in the year and the development of production in the pre-salt. Despite the representative numbers, the performance was pushed due to delays in the delivery of platforms and sale of assets, which hinted the closure of targets imposed on the state.

The total production of oil, gas and natural gas liquids (LNG) was 2,630,000 of barrels of oil equivalent per day (boed), being 101,000 boed produced abroad, in numbers also lower than the target, of 2.7 million of boed.

The annual average of total production operated by the state company, including own and third-party parcels, was 3,290,000 boed in 2018, being 3,160,000 boed in Brazil. Petrobras also added that "the oil and natural gas production of 2018 is in line with the goal established for this year in the company's business plan and management, in which 2.8 million barrels of oil equivalent per day are projected in 2019".

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