Petrobras August Output Hits All-time High

Brazil's Petroleo Brasileiro SA said on Wednesday that output rose 4.5 percent in August to an all-time high of 2.88 million barrels of oil and equivalent natural gas a day from a year earlier.

Petrobras, as the state-run company is known, said production surpassed an earlier peak of 2.86 million barrels reached back in December.

The company, which is trying to overcome a massive corruption scandal, said the increase in production was mainly due to initial operation of the new Cidade de Itaguaí rig at Lula field in Brazil.

Considering only output in Brazil, Petrobras said it produced 2.69 million barrels of oil and equivalent natural gas a day in August, the highest volume ever for local output. (Reporting by Marcelo Teixeira