Petrobras publishes abysmal result

"Maybe the final number doesn't show the company's grandiosity," says Petrobras CEO following the interim report which includes debt of around USD 125 billion.
Photo: Eraldo Peres/AP/POLFOTO
Photo: Eraldo Peres/AP/POLFOTO

If cars could run on corruption then the financial report from Petrobras would have been an easier pill to swallow. Unfortunately for the Brazilian oil company, this is not the case. The interim report for the second quarter of the year actually reflects that there is much more money under the table than on the table for the company. With a net result of USD 150 million, the bottom line thus takes a fall of 90 percent compared to the same period last year.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
Must contain at least 6 characters
Must contain at least 2 characters
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Further reading