Petrobras' 2024 profits below those attained the year before

Thursday, February 27th 2025 - 10:29 UTC

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Brazil's State-owned oil company Petrobras activities yielded R$36.6 billion (US$7.5 billion) in profits last year, according to a report released Wednesday in Brasilia. However, these figures are below 2023's performance, when the company recorded a net profit of R$124.6 billion (US$24.9 billion), the exchange rate variation in debts between Petrobras and its subsidiaries abroad playing a key role in these results. Read full article

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Brasileiro
Remember that Petrobras is a company controlled by the Brazilian state. And the main function of a state-owned company is not just to make a profit, but to serve the interests of the country. And Petrobras has done this very well. We have done away with the PPI (international parity price) on fuels, increased investments in refining, biodiesel and drilling new wells. And, in addition, we have reactivated orders for ships, rigs, helicopters and equipment related to the oil and gas industry, all of which were ordered directly from Brazilian shipyards and industries.

Investing in sovereignty costs money and neoliberal capitalists hate spending, hate investing. The only thing they are interested in is immediate dividends.

The West is killing the goose that lays the golden eggs!
Feb 28th, 2025 - 09:47 am - Link - Report abuse 0
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