Brazil's Petrobras reports record-high earnings in 2010

Brazil's state-controlled oil and gas giant Petrobras on Friday reported record-high net earnings of 35.1 billion reais (21.1 billion U.S. dollars) in 2010, up 17 percent from 2009.

Petrobras' net operating revenue totaled 213.2 billion reais (128.4 billion dollars) in 2010, also 17 percent higher than that in 2009. Gross profit was up 4 percent, reaching 77.2 billion reais (46.5 billion dollars), while operating profit rose by 2 percent to 47 billion reais (28.3 billion dollars).

The company's investments in 2010, which mainly focused on production capacity building, the improvement of the refining structure and natural gas infrastructure, amounted 76.4 billion reais (46 billion dollars), 8 percent higher than in 2009.

Petrobras' total oil and gas production increased 2 percent in the year, reaching 2.583 million barrels a day on average.

Source:Xinhua

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