Petrobras still going strong but 2012 low profits and high debt pound on prospects

Tuesday, February 5th 2013 - 17:13 UTC

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Brazil’s government managed oil and gas corporation Petrobras posted a net benefit of 21.182 billion Reais (approx 10.6bn dollars) in 2012, which is 36% below 2011, reported the company in a filing, but in the fourth quarter profits totalled 7.747bn Reais (approx 3.9bn dollars) 53% higher than in the same period in 2011. Read full article

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ChrisR
Nothing unusual in this.

What else can anyone expect when the company is at the ‘mercy’ of the government in agreeing realistic prices for their products, something they have consistently FAILED to do?

I consider that the CEO has done a remarkable job under the circumstances.

How can they renew and replace refineries when the government uses Petrobras as a soother for the public.

I wish the 'directors' of ANCAP had Dilma on their tail, they would all runaway and hide.
Feb 05th, 2013 - 05:28 pm - Link - Report abuse 0
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