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Weekly Report - 06 March 2025 (WR-25-09)
BRAZIL: Disappointing results for Petrobras
During the first year with Magda Chambriard as the CEO of state-owned oil company Petrobras, the oil giant has posted an annual drop in profits. The fourth quarter of 2024 saw a significant net loss, which the company has attributed to external factors, such as volatility in exchange rates. On 27 February, the day after Petrobras published its fourth quarter financial results, the company’s market value fell by R$25bn (US$4.3bn) in just one day of trading, not only due to the lower profits but also a lower-than-expected shareholder payout announced on 26 February.
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