Mexico: Domestic Production by Petrobras Falls

Domestic production by Brazil’s state-owned oil giant Petrobras SA fell 3 percent in 2004, amid delays getting new production areas pumping and an output decline from existing fields, Petrobras said Thursday.

Average oil output from Petrobras’ domestic operations dropped from 1.54 million barrels daily in 2003 to 1.49 million each day in 2004. The company’s overseas oil production rose to 168,500 barrels daily from 160,900 barrels for the same period.

Petrobras announced a day earlier that its combined oil and natural gas output from domestic and overseas operation fell 0.7 percent in 2004 compared to 2003, to an average of 2.02 million barrels daily of oil equivalents of petroleum.
http://www.forbes.com/business/energy/feeds/ap/2005/01/13/ap1758303.html