Petrobras Energía oil sales up 2.4% in Q1

Argentine energy company Petrobras Energía's (NYSE: PZE) total oil sales rose 2.42% in the first quarter of 2005 to 127,000 barrels a day (b/d) compared to 124,000b/d in 1Q04, the company said in a statement. Oil sales fell in Argentina, Venezuela and Bolivia, offset by higher sales in Peru and Ecuador. Average oil prices in these countries increased to 86.30 pesos (US$29.97) a barrel from 69.70 pesos in 1Q04. Petrobras Energía's total gas sales fell 6.07% to 311 million cubic feet a day in the first quarter. Gas sales decreased in Argentina, Venezuela and Peru, partly offset by higher sales in Bolivia. Average gas prices in these countries increased to 2.75 pesos per thousand cubic feet from 2.23 pesos in 1Q04. Total petrochemicals sales increased 0.62% to 163,000t, sales of refined products rose 5.43% to 971,000 cubic meters and power sales rose 8.75% to 1,640GWh. Average prices in these last three business sectors increased relative to the first quarter 2004. Petrobras Energía is controlled by Brazil's federal energy company Petrobras (NYSE: PBR).