Petrobras posted a third-quarter net profit of BRL 46.09 billion reais, up 48% from the same period last year, as oil prices soared. The average price of Brent crude was USD 100.85 per barrel between July and September in comparison with USD 73.47 last year and USD113.78 in the previous quarter. Adjusted earnings before interest, taxes, amortization, and depreciation rose to 91.42 billion reais between July and September, compared to 60.74 billion reais in the same period in 2021 and 98.26 billion reais in the second quarter. The company’s profit between July and September was 8.8 billion dollars, the fourth-highest quarterly net profit in its history.
Source: Reuters/Noticias Agrícolas (*Translated by Ia Niani)