Petrobras to revise down output target for this year

摘要

Rio de Janeiro—Petrobras will be forced to revise downward its target of 2 million b/d of Brazilian crude oil production for 2008 because output remained about flat during the first quarter from last year's average of nearly 1.8 million b/d, Jose Gabrielli, the chief executive of the state-led company, said April 17. State-controlled Petrobras in March produced 1.81 million b/d, with the two prior months also around that level. When asked whether the first-quarter output would mean that Petrobras must revise downward its production target for 2008, Gabrielli said, "Yes, it should be revised."