Petrobras posts Q3 net profit of $1.19 billion
The company earnings were credited to a 6% growth in oil and LNG production
Petrobras released its financial results for the third quarter 2014 in the early hours on Wednesday (Jan. 28). The company reported net profit of $1.19 billion.
The results were approved by the board in a meeting that lasted over seven hours, but the company has not decided how it is going to measure the extent of the losses incurred as a result of a large corruption scandal investigated under the Federal Police “Car Wash” Operation (Operação Lava Jato).
The results are pending review by an independent auditor, but the company decided to disclose them in order “to comply with covenant obligations in debt agreements and to provide information access to the stakeholders and to the market, with transparency related to recent events known by the public in the context of the 'Lava Jato Operation'.”
The earnings were credited to a 6% growth in oil and liquid natural gas (LNG) production in the period.
Translated by Mayra Borges
Fonte: Petrobras posts Q3 net profit of $1.19 billion
