Brazilian Petrobras noted a $ 11 billion decline, warning of changes in consumer behavior that might be permanent – Energy & Oil | Instant News


RIO DE JANEIRO, May 14 (Reuters) – Brazilian state oil company Petrobras experienced a 65.3 billion real ($ 11.2 billion) decline in exploration and production assets Thursday, warning investors that changes in consumer behavior due to the coronavirus pandemic are permanent possibility.

The damage caused Petroleo Brasileiro SA, as the company is officially known, to book a first quarter net loss of 48.5 billion reais.

Reporting by Gram Slattery
Editing by Chris Reese

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