Petrobras announce record profits
The Brazilian state oil firm has announced record profits in the second quarter of 2008, it has been reported.
People considering property for sale in Brazil could be interested to hear that Petrobras enjoyed revenues of some $5.442 billion (£2.7 billion), up by 29 per cent compared to the same period in 2007, which hints at an economic resilience in the country.
Almir Barbassa, the firm’s investor relations director, is reported by the news agency as saying the high profits are down to an elevation in oil prices on the foreign market.
During the first-half of the year the organisations’s sales have reached $12.942 billion.
It was reported yesterday (August 12th) by the Brazzil Magazine that the nation’s motor industry is also booming as it topples France to become the producer of the sixth highest number of vehicles worldwide during the first-half of 2008.
Those looking at Brazilian property could be interested to hear the news, which further hints at economic buoyancy in the country.
