Finance

Petrobas slumps to a loss during 'worst crisis in the last 100 years'

Impairments on exploration and production assets drag Brazilian operator into the red as it shutters 62 shallow water platforms

Heavy loss: Petrobras chief executive Roberto Castello Branco says the Covid-19 pandemic and associated collapse in oil prices is the worst crisis faced by the industry in 100 years
Heavy loss: Petrobras chief executive Roberto Castello Branco says the Covid-19 pandemic and associated collapse in oil prices is the worst crisis faced by the industry in 100 yearsPhoto: REUTERS/SCANPIX
Perth
PetrobrasRoberto Castello BrancoproductionFinancialCoronavirus
Published 15 May 2020, 03:31Updated 15 May 2020, 03:33