Petrobras increases Nov. output 15.4% year-on-year

Brazil's federal energy company Petrobras increased its November domestic and foreign hydrocarbons production by 15.4% from the same month 2002 to 2 million barrels of oil equivalent a day (mboe/d), the company said in a statement Friday. Production was 3.7% down from October 2003. Domestic production of 1.76mb/d was 4.5% up from November 2002 and 2.1% less than October 2003. The fall from October was due to programmed shutdowns on the P-7 platform in the Bicudo field and the PCH-1 in the Cherne field, which like Bicudo is in the Campos basin. November production outside of Brazil was 252,069b/d, 289% up on the same month 2002, principally because of the acquisition of Argentine energy company Perez Companc. However, foreign production fell 13.8% from October because of adjustments in Argentina, Ecuador and Venezuela.