Brazil’s state-controlled oil and gas company Petrobras posted a record net income in 1Q11: R$10.985 billion (USD 6.7 Billion), 42% up on last year. Higher gross profit (positive change of R$894 million) driven by 4% growth in the domestic production of oil and natural gas and a higher oil (+6%) and gas natural (+13%) sales volume on the domestic market, fetching higher prices due to the 4% increase in average price, contributed to the result. Additionally, the Brent crude price was up, averaging $104.97 in 1Q11 ($76.24 in 1Q10), increasing both export revenues and the international segment’s production and sales. The latter posted a revenue increase of R$1.94 billion.
Green Marine
about 15 years ago
Petrobras 1Q Net Income Jumps to Record High
Brazil’s state-controlled oil and gas company Petrobras posted a record net income in 1Q11: R$10.985 billion (USD 6.7 Billion), 42% up on last year. Higher gross profit (positive change of R$894 million) driven by 4% growth in the domestic production of oil and natural gas and a higher oil (+6%) and
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