Petrobras to miss 2014 oil production growth target
SAO PAULO Nov 17 (Reuters) - Brazil's state-run oil firm Petroleo Brasileiro SA expects its oil output to grow 5.5 percent to 6 percent in 2014 from 2013, below its targeted increase for the year, according to a company presentation released on Monday.
The company, known as Petrobras, had targeted a 7.5 percent increase, with a tolerance margin of 1 percent in either direction.
Petrobras said delays in oil platform deliveries were to blame for the shortfall.
The firm, which is under investigation due to corruption allegations, affirmed that it would release its unaudited third-quarter results on Dec. 12. (Reporting by Asher Levine and Reese Ewing; Editing by Bernadette Baum)
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