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Brazil’s Petrobras Registers Positive Results After Four Years of Losses

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – After four years registering losses, Brazil’s oil giant, Petrobras, announced the company registered a net income of R$25.8 billion in 2018. This is the first positive result in five years and also the highest since 2011, according to officials.

"Petrobras' performance in 2018 was undoubtedly the best in many years, which includes obtaining some historical records, involving free cash flow and adjusted Ebitda, and the interruption of four years of losses," president of Petrobras, Roberto Castello Branco, stated in a letter sent to the market on Wednesday . . .

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