The production of the Brazilian Petrobras falls 5% in the first quarter

Sao Paulo, Apr 27 (EFE) .- The Brazilian state company Petrobras reported this Tuesday that it produced a daily average of 2.19 million barrels of oil and gas equivalent during the first quarter of 2020, which represents a reduction of 5.3 % compared to the same period of the previous year.

In a report sent to the Sao Paulo stock exchange, the oil company attributed the drop in production to divestments throughout 2020 and early 2021 and to the “natural decline in production.”

The company, which is state-controlled, but with shares traded on the Sao Paulo, New York and Madrid stock exchanges, highlighted that it once again reduced the number of employees on the platforms due to the worsening of the covid-19 pandemic in the country during the first quarter.

“We adopt a different boarding regime with the aim of reducing the daily flow of people, with the consequent mitigation of the risk of contamination and the impact on our operations,” Petrobras said.

Despite the reduction in the annual comparison, production increased by 2.9% compared to the last quarter of 2020, thanks to the operational growth in the P-70 platform, in the Atapu field, located in the Santos marine basin.

Petrobras, which will release its financial results next Thursday, also reported that oil exports fell 36.6% in the first quarter compared to the same period last year, representing 511,000 barrels per day.

The largest company in Brazil attributed the reduction in sales abroad to lower production in the fourth quarter of 2020, a period in which the campaign of programmed shutdowns of the platforms that could not be carried out in the previous quarters due to the pandemic was resumed.

(c) EFE Agency