Petrobras Posts Q2 Net Loss

Brazilian Petroleo Brasileiro SA

posted a net loss in the second quarter. Petrobras posted a quarterly net loss of 1.35 billion Brazilian reais ($668 million), versus a year-ago net profit of BRL10.9 billion. However, analysts were expecting a profit of BRL3.6 billion. Its domestic crude oil production dropped 2.4% in the same period. Petrobras shares closed at $20.33 on Friday.