Brazil’s Petrobras beats estimates on strong natgas sales, crude prices

RIO DE JANEIRO, Aug 4 (Reuters) – Brazil’s Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company’s bottom line.

In an evening securities filing, Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, reported a quarterly net income of 42.855 billion reais ($8.29 billion), up from a loss in the same period last year and well above the Refinitiv consensus estimate of 30.7 billion reais.

By Gram Slattery and Marta Nogueira via Reuters

Read full article here

Share This

Chamber Updates Stay connected with Chamber activities