Petro­bras re­ports nine-month profit

China Daily (Hong Kong) - - BUSINESS -

Brazil’s state-con­trolled oil and gas gi­ant Petro­bras saw net profit of 5 bil­lion re­als ($1.5 bil­lion) in the first nine months of 2017, ac­cord­ing to a re­port re­leased on Mon­day. With the pos­i­tive re­sults, Petro­bras man­aged to re­verse the dam­ages reg­is­tered in the same pe­riod last year, when the com­pany had losses of 17.3 bil­lion re­als. In the third quar­ter of 2017, net profit reached 266 mil­lion re­als, down 16 per­cent com­pared to the sec­ond quar­ter. In the third quar­ter of 2016, Petro­bras reg­is­tered losses of 16 bil­lion re­als.

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