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Petrobras expected to post Q4 profit on higher oil prices, lower writedowns

Wednesday, March 22, 2017 - 05:50

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Brazil's improved outlook is helping to bolster corporate earnings for Petrobras and other local companies, which suffered with escalating political and economic turmoil in the previous two years.

Sao Paulo

PETROLEO Brasileiro SA, Brazil's state-controlled oil company, is likely to return to a profit in the fourth quarter, reflecting the impact of higher average oil prices, lower asset writedowns and cost-cutting, analysts said on Monday.

Rio de Janeiro-based Petrobras

sentifi.com

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