Rio de Janeiro – The Brazilian state-owned oil company Petrobras ended the second quarter with a surplus of US$ 1.45 billion, growth of nearly 600% over the second quarter of 2008, informed the Petrobras press office in a release issued yesterday (6th).
According to the company, the result mainly reflects the increase in overall production of oil and natural gas liquids, which grew by 9%; the net growth of 330% in the shipped volume of oil and derivatives, which totalled 267,000 barrels per day in April, May and June; and the 28% reduction in total imports of derivatives, the highlight being diesel oil, due to the decrease in consumption stemming from the international financial crisis.
The balance of trade result for the state-owned company is calculated based on exports and imports of oil and derivatives, not considering the data for natural gas, liquefied natural gas and nitrogen compounds.
*Translated by Gabriel Pomerancblum
