Petrobras Hikes Dividend as Production Surge Offsets Lower Oil Prices ...Middle East

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Petrobras Hikes Dividend as Production Surge Offsets Lower Oil Prices
source : OILPRICE ( Middle East ) () 69
Petrobras will be paying higher dividends for the third quarter compared to the second quarter as production and earnings jumped sequentially, the Brazilian state-owned oil giant said. Petrobras booked a net income of $6 billion for the third quarter, up by 2.7% on the year and a 27.3% jump on the quarter, despite the decline in oil prices.  Higher production and start-ups of new fields helped the Brazilian giant cushion the impact of the more than $10 per barrel decline in oil prices. Oil production from the Buzios field hit a record high…

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