Brazil’s state-run oil company Petroleo Brasileiro SA (PETR4.SA) second-quarter profit fell by almost a fifth from a year earlier due to a tax settlement charge and a plunge in oil prices, according to a Reuters survey of analysts.
The average estimate of 12 analysts polled by Reuters is for net income to fall 19 percent to 4 billion reais ($1.15 billion) from 4.96 billion reais in the year-earlier period. Profit is expected to be 25 percent lower than the first quarter.
Petrobras, as the company is known, plans to announce results after markets close on Thursday.
Brazil Energy Insight 
Leave a comment