Petrobras Misses 2011 Production Goal, Plans More Drilling
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Petroleo Brasileiro SA will miss its crude production target this year because of safety work at some fields and delays in the arrival of offshore rigs, as Brazil’s state-controlled oil producer steps up drilling for next year.
Petrobras, as the company is known, won’t achieve average output of 2.1 million barrels a day this year, Chief Executive Officer Jose Sergio Gabrielli said in an interview in Doha, Qatar, today. The company, which is based in Rio de Janeiro, is likely to pump 2.08 million barrels a day in December, he said.