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Petrobras oil reserves fell 8% in 2020 -filing

RIO DE JANEIRO, Jan 26 (Reuters) - Brazil’s state-run oil company Petrobras ended 2020 with proven reserves of oil, condensate and natural gas of 8.816 billion barrels, it said in a securities filing on Tuesday, down about 8% from the previous year.

The company said its replacement rate was 29% of last year’s production, adding the impact of asset sales, totaling an equivalent 117 million barrels of oil equivalent, was not relevant in the total value of reserves. (Reporting by Marta Nogueira; Editing by Richard Chang)

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