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Brazil’s Petrobras 4Q Profits Plunge 36 Percent, 2006 Earnings Rise 9 Percent
Brazil’s state-owned oil company reported a 36 percent plunge in fourth-quarter net profit on Tuesday amid declining international oil prices. But Petrobras’ profit for all of 2006 hit a new record, rising 9 percent from the previous year.
Petroleo Brasileiro SA earned 5.2 billion Brazilian reals ($2.5 billion) in the October-December period from 8.1 billion reals [...]
