© Reuters. FILE PHOTO: A general view of the tanks of Brazil’s state-run Petrobras oil company following the announcement of updated fuel prices at at the Brazilian oil company Petrobras in Brasilia, Brazil June 17, 2022. REUTERS/Ueslei Marcelino
SAO PAULO (Reuters) – Brazil’s state-run oil company Petrobras reported a 14.4% decline in first-quarter net profit, hit by lower oil prices, the firm said in a statement on Wednesday, a result that nevertheless landed ahead of analysts’ expectations.
Petrobras reported net profit of 38.16 billion reais ($7.63 billion) during the January to March, while analysts polled by Refinitiv had estimated 31.96 billion reais.
($1 = 5.0033 reais)
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