PBR stock is moving up on Friday after Petroleo Brasil (NYSE:PBR) reported a solid rise in Q3 production to 2.88M boe/day.
Impressive Jump in productionBrazil’s state-run oil behemoth Petroleo Brasileiro SA, better known as Petrobas, is one of the economic pillars of the country, and its performance has a direct bearing on the country’s well being. In a new development, the company announced that its production has been boosted significantly in the third quarter.
The company added that the drastic rise in production is primarily due to the investment made in pre-salt, deep ...
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