Petrobras bounces back into profit in 9M 2017

Brazilian state-controlled Petrobras saw net profits of BRL 5 billion in the first nine months of 2017.
By Staff reporter 14 November 2017 0 28378

Brazilian state-controlled Petrobras saw net profits of BRL 5 billion ($1.5 billion) in the first nine months of 2017, according to local press.

This is a vast improvement on the same period of 2016, when the company reported losses of BRL 17.3 billion.

Petrobras is still heavily in debt, but the company says it is on course to meet its 2017-2018 divestment target of $21 billion.

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