Brazil’s Petrobras reported a profit for the second quarter of the year, booking a net positive result of some $1.6 billion after posting a loss of $480 million for the first quarter of the year. The positive result came despite weaker average oil prices, the company noted. The company reported an average production rate of 2.91 million barrels of oil equivalent for the three-month period, noting it was 5% higher than the average for the first quarter of the year. Petrobras said it had started production from 14 new wells during the reporting…
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