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Petrobras reports huge 3Q losses: sharp devaluation of the currency blamed

Friday, November 13th 2015 - 09:10 UTC
Full article 9 comments

Brazil's scandal-plagued state oil giant Petrobras on Thursday announced third-quarter losses of about US$ 1 billion, mainly due to the sharp devaluation of the Brazilian currency.Petrobras, mired in a hugely damaging scandal involving bribes and high-level political payoffs, posted losses of 3.76 billion Reais in the quarter, compared with a loss of 5.3 billion Reais a year earlier. Read full article


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