Petrobras booked major loss in fourth quarter

Brazil's national oil company Petrobras emerged from the fourth quarter 2017 with a deficit of almost USD 1.7 billion, but the firm also managed to reduce debt.

Photo: /ritzau/AP/Leo Correa

Brazilian oil company Petroleo Brasileiro – known as Petrobras – finished the fourth quarter 2017 on a negative note. The oil company booked a loss of BRL 5.48 billion, corresponding to USD 1.68 billion.

Petrobras also missed the mark with EBITDA, reports Bloomberg News.

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