RIO DE JANEIRO, July 31 ― Brazil's state-run oil company Petrobras announced yesterday it reduced its losses in the second quarter of the year, saying there were “signs of recovery” from the global economic meltdown caused by the coronavirus pandemic. The company posted a net loss of 2.7...
Petrobras posted a net loss of 2.7 billion reals for the period from April to June, far better than the 48.5 billion reals it lost in the first three months of 2020. — Reuters pic
The company posted a net loss of 2.7 billion reals for the period from April to June, far better than the 48.5 billion reals it lost in the first three months of 2020. “We are working hard, fast and efficiently to engineer a J-shaped recovery, ending up better than we were in the pre-Covid era.” Now, after posting a record profit of US$10.2 billion in 2019, the firm is facing the fallout of the pandemic.
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