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Montevideo, September 21st 2023 - 23:35 UTC

Stories for August 12th 2016

  • Friday, August 12th 2016 - 07:08 UTC

    Petrobras Q2 profit tumbles by a third; massive debt condition performance

    Part of the problem is Petrobras' huge debt, Chief Financial Officer Ivan Monteiro told reporters on Thursday.

    Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.