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