Petrobras Brazil oil output slumps in October
RIO DE JANEIRO, Nov 21 (Reuters) - Domestic oil output by Brazil's state-run energy company Petrobras (PETR4.SA)(PBR.N) fell 2.3 percent in October from September in its fourth straight monthly drop and was a steep 5 percent below year-ago levels on one unscheduled and two programmed rig stoppages.
Petrobras, which accounts for nearly all crude production and refining in Latin America's largest country, said in a statement on Wednesday that it pumped an average of 1.73 million barrels per day last month, below last year's average of 1.78 million bpd.
The company, formally known as Petroleo Brasileiro SA, said it had programmed stoppages at the Garoupa and Corvina fields and had to halt a 60,000 bpd rig at the Albacora field to repair a riser pipeline.
Output has since resumed at the three fields.
Petrobras expects the production drop to be reversed soon after two rigs on the light oil fields of Piranema and Golfinho started working in October and November, while two big platforms are due for start-up on the heavy oil Roncador field before the end of the year.
Petrobras expects an average annual output growth of over 7 percent through 2012.
Natural gas production in Brazil edged up 0.7 percent in October from September to 42.6 million cubic meters per day.
The company's international oil output fell 3.4 percent to 124,175 bpd due to lower production in Venezuela and Argentina.
Natural gas production abroad fell 3 percent to 18.6 mmcmd. Outside Brazil, Petrobras produces crude or natural gas in Argentina, Angola, Bolivia, Colombia, Ecuador, Peru, the United States and Venezuela. (Reporting by Andrei Khalip; Editing by John Picinich)
