LatinNews Daily - 10 November 2023

In brief: Profits slump at Brazil’s Petrobras

* Brazil’s state oil company, Petrobras, has released its third quarter profits, showing a 41.5% drop in profits in Q3 2023 compared with the same quarter of 2022. Petrobras reported profits of R$27.22bn (US$5.51bn) in Q3, down from R$46.57bn in Q3 2022. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 27.6% year-on-year to total R$66.18bn in Q3. Compared with Q2 2023, profits in Q3 were down by 7.5%, while EBITDA was up by 16.8%.

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