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Brazilian Petrobras reports 36% drop in 2012 profit  Join our daily free Newsletter

MENAFN - 05/02/2013

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(MENAFN) Brazil's Petrobras announced that its net profit for 2012 declined by 36 percent from a year before to USD10.64 billion, reported Xinhua News.

The state-owned oil and gas giant said that the figure is the lowest since 2004, and attributed the decline to fluctuations in the exchange rate over last year.

The company added that these variations impacted import costs and operational costs, noting that growing domestic demand also raised imports.

In the year, the firm's oil and gas output dipped 1 percent to an average of 2.598 million barrels of oil equivalent a day.

Meanwhile, net operating revenue jumped 15 percent to a total of USD141.4 billion.

 






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