Petrobras says it is benefiting from the Pre-Salt fields, and I guess that is possible.  The country had an auction last Fall on these fields and there was pretty much no takers.  I wonder what to make of that?

Brazil’s Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday.

Read the full article:  https://www.oedigital.com/news/475508-petrobras-breaks-oil-output-record-boosted-by-pre-salt?utm_source=AOGDigital-ENews-2020-02-11&utm_medium=email&utm_campaign=OEGDigital-ENews