A sharp increase in crude exports helped Brazil’s state-controlled Petrobras register record full-year profts last year. The frm’s crude exports jumped by 25pc in 2019 to 536,000 b/d, with China taking about 71pc of these shipments, followed by the US with a 10pc share. The surge helped Petrobras record a net proft of 40.1bn reals ($9.2bn), a 56pc increase over 2018 (see table). Fourth-quarter proft of R8.2bn was up by 287pc on the year.
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