Brazil’s Petrobras Registers 90 Percent Drop in Q2 Net Income

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Petrobras closed the second quarter of 2015 with a net income of R$531 million, an 89.3 percent decline from the R$4.95 billion registered during the same quarter last year. During the first quarter of 2015 the oil giant had registered a net profit of R$5.33 billion. For the first six months of the year, the net income totaled R$5.86 billion, down by 43 percent from the same period in 2014.

According to Petrobras’ CEO, Aldemir Bendine, three factors led to the decline . . .

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