US$ 7.4 Billion: Brazil Petrobras’s Profit Falls 20% in First Half

BR gas distributor Brazilian state-controlled oil and gas multinational Petrobras had net profit of 13.55 billion Brazilian reais (US$ 7.4 billion) in the first half of the year, a result that represents a reduction of 20% when compared with the same period last year.

From January to June, 2008, the company profit was 16.956 billion (US$ 9.3 billion). This information was disclosed by the company.

In the second quarter of this year (April to June), the company's net profit was 7.734 billion reais (US$ 4.2 billion), a reduction of 20.4% over the same period last year, when the profit totaled 9.717 billion reais (US$ 5.3 billion). When compared to the first quarter of this year, when profits totaled 5.816 billion reais (US$ 3.2 billion), profit rose 33%.

The company's earnings before interest, tax, depreciation and amortization (EBITDA) was 17.513 billion (US$ 9.6 billion) in the second quarter of this year, a reduction of 6% over the same quarter in 2008.

With regard to the first quarter, the EBITDA has grown 30.47%. Petrobras revenues dropped 20% in the second quarter of this year when compared to the same period in 2008, and totaled 44.6 billion reais (US$ 24.3 billion).

BR Distribuidora

BR Distribuidora announced that it had net profit of 661 million Brazilian reais (US$ 336 million) in the fist half of this year. This result represents a 1.4% reduction in comparison with the 671 million accumulated between January and June 2008.

The Petrobras subsidiary sold 20 billion liters of fuel in the first six months of 2009, growth of 9.4% over the sales in the same period last year. The record sales of derivatives in June, 3.49 billion liters, was broken in July, when the company traded 3.75 billion liters.

Tags:

You May Also Like

Coca-Cola in Brazil

Brazil’s Thirst for Coke Grows 8%, 2% Over Global Average

Brazilians are drinking more Coke. The sales volume of Coca-Cola Brazil increased by 8% ...

Brazilian Ecodesigner Brings Art Out of Wood Scrap and Damaged Trees

Pedro Petry, a Brazilian ecodesigner, is a pioneer in the research and use of ...

New York Gets to See Documentary on Brazil’s Black Rebel Slaves Villages from 1600s

Quilombo Country, the award-winning documentary about Brazilian villages founded by escaped and rebel slaves, ...

Piracy in Brazil Is Annual $10 Billion Heist

The man in charge of Interpol’s Intellectual Property Crimes Unit, John Newton, praised the ...

Brazil Expecting Surplus of 1 Million Barrels of Oil in 6 Years

The discovery of giant reserves in the pre-salt layer led Brazil to believe that ...

Roberto Carlos at a time he was the uncontested king

Roberto Carlos: Brazil’s Old Idol Loses Majesty over Censorship

Roberto Carlos probably never read Oswald de Andrade, but still borrowed heavily from the ...

Brazilian Presidential Candidates Can’t See Eye to Eye on Mercosur’s Usefulness

Dilma Rousseff, the Brazilian presidential candidate handpicked by president Luiz Inácio Lula da Silva ...

Paradise Regained

A local from Lagoinha once described it to me as one of those places ...

Brazilian Chocolatier Finds Sweet Spot in Middle East in Bitter Times

After introducing is product to a few South American countries and the United States ...

Brazil Calls US Bluff on All This Free Trade Stuff Bravado

On April 20th 2010, a Memorandum of Understanding (MoU) was signed between the two ...