LatinNews Daily - 22 July 2022

In brief: Production falls at Brazil’s Petrobras

* Brazil’s state-controlled hydrocarbons company, Petrobras, has announced that its average daily oil production in Q2 2022 fell by 5.1% compared to the previous quarter, and by 5.0% year-on-year. Average oil production in Q2 2022 was 2.11m barrels per day. Including natural gas, Petrobras produced 2.65m barrels of oil equivalent per day, down 5.1% in both quarterly and annual terms. Petrobras attributed the decline to increased maintenance stoppages but said that the fall was in line with expectations and highlighted the fact that its refineries were running at 97% of capacity as of late June.

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