Saturday, 4 August 2012

UPDATE 3-Petrobras posts first loss in 13 years; results shock

RIO DE JANEIRO, Aug 3 (Reuters) - Brazil's state-led oil
giant Petrobras on Friday posted its first quarterly
loss in more than 13 years, fanning concerns that the company,
hampered by government intervention and soaring costs, will fail
to meet its goal of becoming one of the three biggest crude
producers by the end of the decade.

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