Brazil’s Petrobras Registers R$3.76 Billion Loss in Q3

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s oil giant, Petrobras, registered a loss of R$3.759 billion during the third quarter of 2015. According to company officials the losses stem from the effects of the significant depreciation of the Brazilian real during the period and the reduction of oil exports.

“The results reflect an increase in net financial expenditures due to the devaluation of the Brazilian real and the increase of expenditures with interest rates,” said Petrobras officials on Thursday during a press conference to announce the results.

According to company officials, during the . . .

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