Petrobras’ oil production hits record

Petrobras’ oil production in Brazil reached a monthly record in January, the company said, even as a global financial crisis hurt demand for commodities and knocked oil prices lower.

Petrobras produced 1.923 million barrels per day in January, a 5.3% rise compared to last January and up 2.5% from volumes in December last year. But the company said natural gas production in Brazil was 47.09 million cubic metres a day in January, 5.2 million cubic metres less than in December last year. Petrobras’ average oil and gas production in Brazil reached 2.21 million barrels per day in January, a 4.8% rise on production last in January and a 0.7% increase last December. Total oil and natural gas production in Brazil and abroad reached a daily average of 2.43 million barrels in January, a 3.8% rise on January last year and the same as last December.

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