Petrobras profits plunge in Q4

Brazil fans react to their team's loss to France in their World Cup 2006 quarter-final soccer match in Frankfurt July 1, 2006. FIFA RESTRICTION - NO MOBILE USE REUTERS/Alex Grimm (GERMANY)

Profits fall: Petrobras Q4 earnings disappoint

ALEX GRIMM

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Kathrine Schmidt

, Kathrine Schmidt

 09 February 2012 23:31 GMT

Petrobras said Thursday its fourth-quarter profits were chopped in half as it struggled with the high costs of importing refined products, the slipping value of the real and high exploration costs.

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