Brazil’s Petrobras posts mixed Q3 figures

Slow decrease: A Petrobras oil platform is seen at Guabanara bay in Rio de Janeiro. The firm’s production numbers have been hit by oilfield divestments in recent years. ― Reuters

RIO DE JANEIRO: Brazil’s Petrobras posted mixed production figures as the state-run oil company ramps up output at some major oilfields while also jettisoning a number of legacy production assets as part of a wider divestment drive.

In a securities filing, Petroleo Brasileiro SA, as the state-run oil firm is formally known, said it produced 2.83 million barrels of oil equivalent per day in the third quarter, up 1.2% in quarterly terms, but down 4.1% from the same period last year.