Petrobras Earnings Rise, but Production Falls in 3Q
Petrobras reported third-quarter results that were improved from the year earlier but were dampened by charges related to settlements to close investigations with U.S. authorities. Adjusted EBITDA increased to BRL 29.9 billion from BRL 19.2 billion a year ago but fell below second-quarter levels of BRL 30.0 billion. However, excluding the settlements, adjusted EBITDA was BRL 33.4 billion. The year-over-year increase was largely attributable to the upstream segment that saw adjusted EBITDA rise t...
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