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Tuesday, 02 December, 2008, 21:50 GMT | more >>

Petrobras' Argentine profit skyrockets



By Upstream staff 

Net profit at Petrobras' Argentine unit rose steeply in the first half, boosted by soaring world oil prices in the second quarter, a company official said today.

Petrobras Energia Participaciones reported a net profit of $136 million from January to June compared with about $1.7 million during the same period last year.

Net profit in the second quarter was about $92 million compared to a loss of about $26 million in the same period last year.

Sales in the quarter jumped 20% to $88 billion.

The group's main unit, Petrobras Energia posted a net profit of about $42 million in the six-month period, according to the Buenos Aires Stock Exchange.


Monday, 08 August, 2005, 19:46 GMT  | last updated: Tuesday, 09 August, 2005, 06:52 GMT

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