Brazil’s Petrobras raises 2023 year-end oil output target to 2.2 mil b/d

Petrobras increased its year-end production targets for 2023 amid better-than-expected performance from recently installed floating production units and prospects for new wells in the fourth quarter, but a tight market for services and supplies will result in lower investment, an executive with the Brazilian state-led company said Nov. 10. “We observed robust production, within the upper limits in our margin…Petrobras increased its year-end production targets for 2023 amid better-than-expected performance from recently installed floating production units and prospects for new wells in the fourth quarter, but a tight market for services and supplies will result in lower investment, an executive with the Brazilian state-led company said Nov. 10. “We observed robust production, within the upper limits in our margin…  Read More