Rio de Janeiro, Feb 5 - Brazil's state-owned oil and gas giant Petrobras has reported net profits of 21.18 billion reais ($10.64 billion) in 2012, down 36 percent from 2011 and the lowest since 2004.
Petrobras Monday blamed the decrease on the variations in the exchange rate over last year, which affected import costs and operational costs, as well as an increasing domestic demand, which boosted imports, reported Xinhua.
However, the company's net operating revenue totaled 281.38 billion reais ($141.4 billion) in 2012, up 15 percent from 2011.
Petrobras' oil and gas production fell one percent in 2012, to an average 2.598 million barrels of oil equivalent per day. (IANS)
- Marathon Pharma to sell decades-old drug to treat DMD for $89,000
- FedEx Launches FedEx Fulfillment for Small Business to Compete with Amazon
- CDC updates 2017 advisory for recommended flu shots
- Coca-Cola Helped by Strong North American Demand but Company Issues Lackluster Future Guidance
- Women with dense breasts more likely to develop breast cancer: study