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Petrobras matched Kuwait’s oil production in 2020

Published : Saturday, 9 January, 2021 at 5:18 PM  Count : 1534

Petrobras matched Kuwait’s oil production in 2020

Petrobras matched Kuwait’s oil production in 2020


Petrobras wrapped up 2020 with record oil production just as most of its peers reeled from the worst crude-market crash in history.

In a year that brought the U.S. shell industry to its knees, the Brazilian state-run giant pumped an all-time high of 2.3 million barrels of crude a day, a statement said on Thursday. It is similar to OPEC member Kuwait.
Discovering the largest offshore oil of this century, Rio de Janeiro-based explorer is bearing fruit as a result of a five-year plan to develop rival fields in Saudi Arabia’s low-cost production.

Most of the crude was moving from the so-called pre-salt plains below the Atlantic coast to the coast of Rio, the company - officially known as Petrolio Brasiliro SA - had been in operation for years.

GY

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