BREAKING NEWS

BREAKING NEWS

Brazil's Petrobras posts first annual profit in five years

Brazil's Petrobras posts first annual profit in five years
FILE PHOTO: Women walk in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. REUTERS/Sergio Moraes -
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SERGIO MORAES(Reuters)
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RIO DE JANEIRO (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA <PETR4.SA> reported its first annual profit in five years on Wednesday, as widely expected.

In a securities filing, Petrobras, as the company is known, said net income in the fourth quarter totalled 2.102 billion reais (423.37 million pounds), up from a loss of almost 5.5 billion reais in the same period last year. Net income for full-year 2018 came to 25.779 billion reais.

(Reporting by Gram Slattery, editing by G Crosse)

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