By Andrew Willis, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Profits at Brazil’s state-led oil company, Petrobras, fell twelve percent during the three months ending September 30th, compared to the same period last year, according to results published last week. The figures were an improvement on the second quarter of this year, however, when Petrobras reported its first quarterly loss in over a decade.

In third quarter results Friday, October 26th, Petrobras said net income for the three months was R$5.57 billion (US$2.75 billion), down from R$6.34 billion in the third quarter of . . .

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