By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Despite continuing to set records for oil production in the past few months, net profits for Brazil’s giant oil conglomerate, Petrobras, plunged 25 percent, to R$10.3 billion in the first semester of 2014 in comparison to the same period last year.

In both June and July Petrobras registered production records in Brazil. "Our petroleum production in Brazil totaled in July an average of 2.049 million barrels . . .

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