VOL. XLV

No 12

25-March-2002

SUPPLY/DEMAND

PetrobrasAims To Increase Oil Production To 1.54Mn B/D In 2002

Brazils Petrobras aims to raise oilproduction by 15% in 2002 from an average 1.34mn b/d in 2001 to around 1.54mnb/d, with the new Marlim Sulfield due to double production to 150,000 b/d during the year. Brazil imports some 400,000 b/d of its domestic requirements, andaccording to a Petrobras statement, considering thatworld output cutscould mean more spending of foreign currency for imports...