LatinNews Daily - 24 February 2022

In brief: Brazil’s Petrobras posts record income

* Brazil’s state-owned oil company Petrobras has released its latest quarterly earnings report, which shows that it made a record profit in 2021. The company posted a net income of R$106.7bn (US$21.3bn), well over double its previous record of R$40.1bn, posted in 2019. This performance was boosted by the high price of crude and the company’s focus on its exploration and production activities. “The financial and operational results show that Petrobras has become a strong and healthy company”, Petrobras president, Joaquim Silva e Luna, said. The company posted a net income of R$31.5bn in Q4 last year, which it attributed to non-recurring effects such as the sale of assets.

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