Brazil's Petrobras reports less loss in Q3

0 Comment(s)Print E-mail Xinhua, October 29, 2020
Adjust font size:

RIO DE JANEIRO, Oct. 28 (Xinhua) -- Brazil's state-run oil company Petrobras on Wednesday unveiled a net loss of 236 million U.S. dollars in the third quarter of this year, well below the figure in the previous quarter.

The company posted a loss of 417 million dollars in the second quarter and a loss of 9.7 billion dollars in the first quarter, but it gained a profit of 2.3 billion dollars in the third quarter of 2019.

According to the Rio de Janeiro-based company, it sold more oil and oil by-products in the third quarter amid higher market prices, and its loss in the period was due to financial expenses.

The company also said that the domestic demand for oil derivatives recovered in the third quarter of this year, and its sales of the products grew by 18 percent compared with the previous quarter.

Meanwhile, Petrobras said that its exports remained strong in the third quarter although it was impacted severely by the COVID-19 pandemic and lower global demand, but its crude oil exports to China has returned to the pre-pandemic level. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter