Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater pre-salt zone showed signs of paying off. Investors and analysts have been watching the firm’s production figures closely in recent quarters, and the company’s ability to swiftly boost output is key to its current strategy. In a Thursday securities filing, Petrobras, as the firm is commonly known, said it produced 2.878 million barrels of oil equivalent per day (boepd) in the third quarter, up 9.3% from the previous quarter and 14.6% from the same period a …read more
Source:: Yahoo Finance
