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LatinNews Regional Monitor: Brazil & Southern Cone - 28 February 2020
BRAZIL: Is Petrobras out of the woods?
Brazil’s Petrobras posted a record profit in 2019, according to the state-owned oil company’s CEO Roberto Castello Branco. Marking a second consecutive year of net profits, this appears to suggest that Petrobras has begun to overcome the difficulties which emerged over the course of the last few years from declining global oil prices, Brazil’s 2015-2016 recession, and the ‘Lava Jato’ investigation, which uncovered deep-rooted corruption within the company.
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