Petrobras expects 1st output oil-stock-swap areas in 2016 -CEO

RIO DE JANEIRO Mon Nov 26, 2012 11:10am EST

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RIO DE JANEIRO Nov 26 (Reuters) - Brazil's state-led oil company Petroleo Brasileiro SA expects its first output from giant offshore areas it purchased from the government in connection with a 2010 stock sale to begin in July 2016, Chief Executive Maria das Gra├žas Foster said on Monday.