Brazil's Petrobras Posts Profit

By Paul Kiernan Features Dow Jones Newswires

Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, eked out a slim profit in the third quarter amid higher oil prices, though high interest expenses weighed on its bottom line.

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Petrobras reported Monday a net profit of 266 million Brazilian reais ($81.1 million) in the July through September period, reversing a 16.46-billion-real loss a year earlier.

Sales revenue rose 2% to 71.82 billion reais, as Brent crude prices rose 11% in local-currency terms.

Earnings before interest, taxes, depreciation and amortization fell 14% to 19.22 billion reais.

Write to Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

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November 13, 2017 17:02 ET (22:02 GMT)