Published 3 years ago

Petrobras Earnings Jump on Oil Rally and Brazil's Water Crisis

Summary by Ground News

Petrobras reported 42.86 billion reais ($8.3 billion) of net income, up from 1.17 billion in the first quarter. The energy and power division at Petroleo Brasileiro SA, as the company is formally known, was a standout. Electricity generation more than tripled in the second quarter from a year ago.

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Yahoo News

Petrobras Earnings Jump on Oil Rally and Brazil’s Water Crisis

(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand.Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider policy in Brazil to conserve water levels at hydroelectric dams and avert power outages. Though the energy and p…

3 years ago·Los Angeles, United States

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Financial Post

Petrobras Earnings Jump on Oil Rally and Brazil's Water Crisis

(Bloomberg) -- Brazil's state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Read More

3 years ago·Canada

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