By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Oil giant of Brazil, Petrobras, announced on Monday its net loss for 2015 was R$34.8 billion, the largest in the company’s history. According to officials, the losses were due to the decline in oil prices around the world, the depreciation of the Brazilian currency and payment of interest rates.
Petrobras’ CEO, Aldemir Bendine, said that 2015 was a very difficult year for oil companies around the world and despite the Brazilian company’s registered losses Petrobras did register a positive cash flow.
“Despite a negative accounting result . . .
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