Brazil workers call off Petrobras strike

Petrobras strike: Workers call off planned stoppage

AFP/Scanpix

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News Wires

 16 February 2013 00:02 GMT

Brazil's main oilworkers' confederation called off a five-day strike against state-led oil company Petrobras, but it rejected the company's latest profit sharing offer in hopes of getting a better deal, a union spokeswoman said on Friday.

Leader's of the confederation, known as FUP, had planned to call a strike against Petroleo Brasileiro, more commonly known as Petrobras, beginning at 00:00 Brazil-time (0300 GMT) on 20 February and ending at 24:00 24 February, Reuters reported.

Workers held a 24-hour walkout on 28 January after the confederation and its unions rejected a 2012 profit-sharing proposal.

Petrobras' 2012 profit of 21.2 billion reais ($10.8 billion) was 36% less than in 2011 and the Rio de Janeiro-based company's worst annual result in eight years.

The company had used the same formula to calculate its…

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