São Paulo – Petrobras revenue and net profit declined in this year’s Q1 in comparison to the same period of last year, according to results released this Friday (15th) after the closing of the financial market. According to this data, the company had a net profit of R$ 5.33 billion (US$ 1.78 billion), a decline of 1% over the same period of last year.
In a press release that followed the balance sheet, the president of the state-owned company, Aldemir Bendine, attributed the profit decline to the currency devaluation. The company also said that it had lower revenues with exports, since the price of the oil barrel dropped. In Q1 of last year, the oil barrel was dealt for US$ 76.27, but in this year’s Q1 the price dropped to US$ 53.97.
The general revenue also declined. In total, Petrobras earned R$ 74.3 billion (US$ 24.8 billion) from January to March 2015, or 9% less than in Q1 2014.
*Translated by Sérgio Kakitani
