RIO DE JANEIRO--Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, said late Friday that domestic crude oil output fell for a third-consecutive month in March as maintenance shutdowns at offshore platforms continued to undercut production.
Petrobras said that domestic crude oil output fell 4% to 1.846 million barrels per day, down from 1.92 million barrels a day in February. Output from overseas operations fell to an average 147,900 barrels per day, down from 149,100 barrels in January.
Domestic crude oil production was hurt by planned maintenance stoppages at four platforms in the Campos Basin, where more than 80% of Brazil's crude is produced. Shutdowns of the P-9, PCE-1 and Espirito Santo floating production, storage and offloading platform, as well as the continued halt at the P-54 platform that started in late February contributed to the decrease, Petrobras said.
Lost production from the four platforms was partially offset by production ramp-ups at the Cidade de Itajai and Cidade de Anchieta floating platforms, the company said.