Petrobras (PBR) maintains its 2012 crude oil production target of 2.02M bbl/day after output...

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

Petrobras (PBR) maintains its 2012 crude oil production target of 2.02M bbl/day after output started to climb in October. Production hit its lowest level in more than four years in Sept. to 1.843M bbl/day on maintenance shutdowns. Late Friday, PBR said Q3 net profit fell 12% Y/Y, falling short of expectations, as higher domestic fuel prices failed to offset higher costs and heavy fuel imports.