Petrobras' oil and gas output falls in first quarter

Petrobras' oil, natural gas and liquefied natural gas (LNG) production in the first quarter was 2.64 million bpd, down 4.2% from a year earlier.

In the first quarter, the company's floating unit P-71 platform for the development of pre-salt crude oil in the Santos Basin came into production at the Itapu field, and eight new fields in the Campos Basin also came into operation.

The company's refinery equipment utilization rate was 85% in the quarter, down 2.0% year-on-year and 1.0% quarter-on-quarter. The company attributed the decline in equipment utilization to reduced production due to maintenance programs at the Henrique Lage, Alberto Pasqualini and Presidente Bernardes refineries.

In the first quarter, the company's oil derivatives sales were 1.697 million barrels per day, down 0.2% year-on-year and down 4.2% quarter-on-quarter.