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28

Brazil's Oil Output Hit Record

Brazil's Petrobras has said it reached record one-day domestic oil production this week

Brazil's Petrobras has said it reached record one-day domestic oil production this week, the state oil copmany said.

The output of under 2.24 million barrels, exceeding the previous mark by more than 300,000 barrels.

The new daily record was set Tuesday, Petrobras chief Sergio Gabrielli said in a ceremony at the company headquarters here, and added that "going past two million barrels is a big deal that few companies in the world do."

Petrobras' head of exploration and production, Guilherme Estrella, said the company expects to produce roughly two million bpd in 2008.

The previous daily record was 1.91 million barrels, set in October 2006.