LatinNews Daily - 12 May 2009
Brazil & Mexico
Brazil: The state oil firm, Petrobras, reported that profits fell 20% annually in the first quarter, the first drop in five quarters, on sharply reduced world oil prices. Consolidated net income was R$5.82bn (US$2.8bn), compared to R$7.24bn (US$3.5bn) in the first quarter of 2008, based on an average oil price of US$43.3/barrel, compared to US$97.8/barrel a year earlier.
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