- Brazil's oil and natural gas output rose to a 26-month high in March, as companies such as Royal Dutch Shell (RDS.A, RDS.B) and BG Group (OTCQX:BRGXF, OTCQX:BRGYY) made up for stagnant output from Petrobras (NYSE:PBR).
- Brazil produced an average 2.64M boe/day in March, 13% more than the year-earlier month, the highest level since Jan. 2012 and the second-highest monthly result in Brazil's history.
- While PBR remains the dominant producer with 2.27M boe/day, its share of total national output slipped to 86% from 93% a year ago and 87% in February; PBR's average daily output in Q1 was the lowest in five years.