Monday, May 16, 2011

Brazil .- Petrobras achieved a record profit of 4,760 million in first quarter

SAO PAULO (BRAZIL), 16 May. The Brazilian oil group Petrobras posted net profits of 10.985 million reais (4,760 million euros) in the first quarter, representing a new record for the company, which improved its result by 42.2% over the same period 2010 . The Brazilian company said its results benefited from high oil prices, which in the case of Brent crude oil averaged $ 104.97 compared with $ 76.24 for the same period last year, bringing export earnings as well as production and sales of the international segment.

The Petrobras turnover stood at 54,800 billion reais ($ 23.749 million euros), up 9% over the figure last year, while production of oil and natural gas increased by 3% to a daily average of 2.6 million barrels of oil equivalent.

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