U.S. Markets closed

Brazil's ANP fines Petrobras again over output measures

Brazil's oil regulator, ANP, said on Friday it fined Petroleo Brasileiro SA 7 million reais ($3.10 million) for not regulating the system to measure gas output at the Cherne-1 platform.

The output levels recorded by the gauges are used in the calculation of royalty payments to Brazil's government. Petrobras, as the company is known, was fined 5.55 million reais on Monday for a similar problem at its Lula offshore field. ($1 = 2.2571 Reais)