Petrobras suffers loss of R$ 2.7 billion in the 2nd half

Last Thursday (30), Petrobras announced a net loss of 2.7 billion reais in the second quarter. In the same period in 2019, the state company had recorded its best result with a profit of 18.87 billion reais.

The oil company also reported that there was an improvement, compared to the loss of 48.5 billion reais in the first quarter, mainly due to the absence of impairments in the period and the gain resulting from the exclusion of ICMS from the PIS/Confins calculation base.

"Excluding these factors, the result would have been worse due to the impacts of Covid-19 on our operations, reflecting prices, margins and volumes," he said. "We also had higher operating expenses related to hedge and the implementation of voluntary layoff plans…", the company added.

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