"With the better than expected evolution of demand for our products, we opted for the gradual return to an average oil production level of 2.26 MMbpd in April alongside an increase in the utilization factor of our refineries," the company said in the Q1 production and sales report.
The initial plan was to reduce oil production in April to 2.07 million bpd and the utilization factor of refineries from 79 percent to 60 percent while reinforcing the logistical export capacity of crude oil, diesel and fuel oil in response to the sharp drop in global demand for oil, Petrobras said.
The average production of oil and natural gas liquids in the first quarter of 2020 increased by 17.7 percent year-on-year to a total of 2.32 million bpd, Petrobras said.
The company noted that the coronavirus pandemic had not had a significant impact on its production and sales performance.
