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LatinNews Regional Monitor: Brazil & Southern Cone - 8 May 2019

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In brief: Brazil

* Brazil’s state-owned oil company Petrobras has recorded a net income of R$4bn (US$1bn) in the first quarter of 2019, a 92% increase on its income in the last quarter of 2018. Last year was the first time since 2013 that Petrobras posted a net profit. Production has fallen 4% in the first three months of the year, but the company maintains its annual target of 2.8m barrels of oil equivalent per day (boed) for 2019. Petrobras chief executive Roberto Castello Branco said that the company has been working on “a transformational agenda based in strategic pillars” and cited the company’s divestment programmes as contributing to making Petrobras a “stronger and healthier company”.