June 2, 2020 / 6:47 PM / a month ago

Brazilian oil production nearly steady in April despite pandemic

RIO DE JANEIRO/SAO PAULO (Reuters) - Oil production in Brazil fell only marginally in April compared to the previous month, according to data released on Tuesday, as coronavirus-related stoppages and a dramatic fall in demand had a limited impact on output.

According to Brazilian oil regulator ANP, the nation produced 2.958 million barrels of oil per day in April, up 13.6% from the same month last year and down 0.5% from March.

State-run oil firm Petrobras had announced cuts of 200,000 bpd in late March, but it quickly reversed those cuts amid resilient Chinese demand.

Overall, the ANP said, 21 offshore fields and 17 onshore fields saw production temporarily halted during April. Petroleo Brasileiro SA, as Petrobras is formally known, said in May that it was permanently idling six high-cost offshore production assets that are currently for sale,

Petrobras produced 2.7 million barrels of oil equivalent per day (boepd) in April, according to the data, followed by the Brazilian unit of Royal Dutch Shell PLC, which produced 482,500 boepd.

Reporting by Gram Slattery and Roberto Samora; Editing by Bernadette Baum

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