Petrobras Sees Profit Jump

News Americas, BRASILIA, Brazil, Weds. Aug. 17, 2011: Brazilian state-owned oil company, Petrobras, has seen a jump in profits.

Petrobras, which has become one of the world’s major crude oil suppliers, has reported a 32 percent jump in its second-quarter net income compared with a year ago. The company made $6.9bn.

“Our financial results this year were extraordinarily better than last year, our debt ended up being smaller with the strengthening of the real,” Petrobras’s chief financial officer Almir Barbassa told reporters.

Petrobras plans to become one of the world’s biggest suppliers of oil.