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Petrobras reported discovery of good quality oil from the two recently completed wells.

RIGZONE News - leading source for the latest news and information for the oil and gas industry

Fourth quarter net income was R$ 6.281 billion, up 85% on the third quarter. 2013 oil and natural gas production totaled 2.539 million barrels of oil equivalent per day (boed), down 2% on 2012, primarily due to delays in starting up new systems, natural decline of fields and sale of assets abroad.

Petroleo Brasileiro Rising Today on Above-Average Volume (PBR.A) | Comtex SmarTrend