Petrobras Turns To Profit In Q3, Sales Revenues Rise - Quick Facts

(RTTNews) - Brazil's state-run oil company Petroleo Brasileiro SA- Petrobras (PBR) reported Tuesday that its third-quarter net income attributable to shareholders was $83 million, compared to prior year's loss of $5.38 billion.

Earnings per share were $0.01, compared to loss of $0.41 a year ago.

In the quarter, operating expenses declined sharply from last year. Impairment of assets were $46 million, compared to $4.71 billion a year ago.

Sales revenues increased to $22.70 billion from $21.69 billion a year ago.

In the nine months, total crude oil and natural gas production reached 2,776 thousand barrels of oil equivalent per day or boed, of which 2,660 thousand boed in Brazil, 3% above last year.

Output of domestic oil products decreased 6% to 1,802 thousand bpd. Domestic oil product sales decreased by 6% to 1,959 thousand bpd.