RIO DE JANEIRO, BRAZIL - Brazil's state-owned company Petrobras, one of the largest oil companies in Latin America, posted a profit of US$8.6 billion in Q1 2022, ranking second in profit-to-revenue ratio.
Petrobras converted 31.6% of its revenues into profits in 1Q2022. The Brazilian state-owned company is the second most profitable among the major oil companies analyzed by Poder360. It is surpassed only by China's CNOOC, which generated a profit of 37.7% of revenues during the period.
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