Brazil Oil Strike Affect its Productin

Source: www.gulfoilandgas.com 11/3/2015, Location: South America

Petrobras hereby announces that the strike coordinated by the oil workers’ unions is affecting its operations.

Yesterday, November 2, 2015, oil production fell by 273,000 barrels, equivalent to 13% of daily output in Brazil. There was also a shortfall of 7.3 million cubic meters of natural gas, corresponding to 14% of the volume supplied to the Brazilian market every day.

Petrobras estimates that, by the end of today, November 3, 2015, the country’s oil output will have fallen by 8.5% and gas availability by 13% over pre-strike levels.

With the production loss, collection of taxes on behalf of the Federal Government, states and municipalities, such as royalties and special participation, is directly impacted.

Petrobras is taking all the necessary measures to ensure the maintenance of its operations, the preservation of its installations and the safety of its workers.

Petrobras reiterates that, despite the impact of the strike on the country’s oil and gas output, distribution is functioning normally and there are no market shortages.

Any material facts will be timely disclosed to the Market.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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