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Petrobras to Ramp up Production Levels

By Lisa Flueckiger, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Petrobras announced this week that the company plans to increase production by fifty percent in a bid to emerge from its current financial difficulties. The oil giant desperately needs funds to keep up with investment projections and to compensate for losses due to fuel imports.

By 2014, nine new production units will go online, leading to an increase of 1 million barrels of oil equivalent (boed) per day in Petrobras’ installed capacity . . .

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