* Brazil’s state-owned oil firm, Petrobras, has announced that it has posted net profits of R$17.03bn (US$4.53bn) in the first half of the year, a 257% year-on-year increase. This is the firm’s best result for the period since 2011 and represents a significant boost for the deeply indebted firm. The encouraging results came as the firm’s net profits in the second quarter of the year reached R$10.07bn (US$2.68bn), a 316% year-on-year increase, on the back of higher international oil prices and due to the firm’s successful restructuring plan.
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