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Petrobras profit misses forecasts, higher oil output expected in Q2

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CEO Roberto Castello Branco (above) emphasised a number of cost-saving measures, including the shuttering of several international offices and the gutting of the company’s Houston office, which was at the centre of a major corruption scandal in December.

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...

sentifi.com

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