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Petrobras CEO: Pre-salt Oil Extraction Costs $8 Per Barrel

Posted by August 8, 2017

Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event on Tuesday.

Parente also said the state-controlled company's new fuel pricing policy will reduce the chance of prices reaching below international parity.
(Reporting by Jose Roberto Gomes)

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