Petrobras Reports R$6.6 Billion Net Income to Close Third Quarter

Petrobras has had a few difficult years, with a R$14.8 billion loss in 2016, which at the time was a more than fifty percent reduction from 2015 when the loss was of R$34.8 billion.

By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Petrobras closed the third quarter of the year with a net profit of R$6.6 billion, more than 25 times higher than the R$266 million obtained in the same period last year. It is a good sign that the troubled South American oil giant is turning things around.

According to a government news agency, the state-owned company closed the first . . .

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