Petrobras Expects Dip in Oil Exports on Offshore Maintenance Works
Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday.
On a conference call to discuss the firm’s fourth-quarter results, the executives added that January production was little changed from December.On Wednesday evening, Petroleo Brasileiro SA, as the firm is formally known, posted a record 2019 profit, though quarterly results were somewhat middling.
Brazil-listed preferred shares in the firm were down 1% in morning trade, while Brazil’s benchmark Bovespa equities index was off 0.5%.
Source: oedigital.com
