Petrobras improves results in 2017
(World News Brazil)

15.Mar.2018 Petrobras posted a R$446 million loss in 2017, but continued to improve its operating results, and it was the smallest loss in the last four years. The company would have made net earnings of R$7.089 billion, but one-off expenses, in particular a R$11.198 billion deal to end a class action filed by investors in the United States, and participation in federal tax settlement programs, which amounted to R$10.433 billion, had a significant impact on the results. Petrobras` operational performance remained on an upward trend, as operating income more than doubled between 2016 and 2017, to R$35.624 billion. There was a R$16.4 billion reduction in impairments in relation to 2016, and...