Petrobras profit misses forecasts, higher oil output expected in Q2
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Rio De Janeiro
BRAZILIAN state-run oil firm Petroleo Brasileiro SA posted quarterly results that missed expectations on Tuesday, although management flagged a potential production boost in the second quarter as new platforms ramp up output.
Petrobras, as the firm is known, posted a quarterly profit of 4.03 billion reais (S$1.38 billion), down 42 per cent from the same period a year ago. That was well below the Refinitiv estimate of 5.36 billion reais.
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