ShippingWatch

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

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.

According to the Wall Street Journal, analysts had expected a drop of 20 percent.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

MPC upgrades 2022 guidance after strong first half

MPC Container Ships reports continued advancement in Q2, raising guidance for its operating result to almost half a billion dollars. High rates will continue for several quarters yet, the company expects.

Further reading

Related articles

Latest news

See all jobs