Petrobras posts loss in second quarter; blames depreciation of the Real

Monday, August 6th 2012 - 07:29 UTC

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Brazil state-controlled oil company Petrobras reported a net loss of 1.35 billion Reais (some 633 million dollars at the current exchange rate) in the second quarter, attributing the result to the depreciation of the Real relative to the dollar. Read full article

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ChrisR
Dillma could always take a leaf out of her friend The Mad Bitch Of Argentina book, how to dedollarize Brasils debt and completely fcuk the country up.

I wonder if Dillma or that wanker of a finance minister, actually computed the knock-on effect of devaluing the Real?

It does not seem so and Petrobras, the milk cow for Brasil, is now showing a deficit. This is likely to carry on until the Real falls further and things get really difficult for Petrobras and the investment programme so vital for future profits.

Mmmm. Mr Market always comes back to bite those that mess with him.

I told you so, and it won't end here.
Aug 07th, 2012 - 03:11 pm - Link - Report abuse 0
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