RIO DE JANEIRO, Mar. 22, 2010 (Xinhua News Agency)
Brazil's state-owned oil and gas giant Petrobras became the second most profitable public firm in the Americas in 2009, said a consulting agency on Monday.
In a report, the consulting agency, Economatica, said that Petrobras garnered a net profit of 28.9 billion reals (16.6 billion U.S. dollars) last year.
Despite the high figures, Petrobras' profit in 2009 was actually 12 percent lower than that in 2008.
According to the Economatica, Petrobras' profit in 2009 was only lower than that of U.S. oil giant Exxon Mobil's (NYSE:XOM) , which reported profits of 19.28 billion dollars. The difference between the two companies' figures was of only 13.7 percent, the lowest since the Economatica started the comparisons in 1994.
U.S. software company Microsoft (NASDAQ:MSFT) ranked third in the list, with 16.25 billion dollars, followed by retail giant Wal-Mart (NYSE:WMT) , with 13.49 billion dollars, and computer giant IBM (NYSE:IBM) , with a net profit of 13.42 billion dollars.
In 2008, due to the dollar's higher value compared to the Brazilian currency real, Petrobras had ranked fifth on Economatica's list after Exxon Mobil, Chevron Texaco, General Electric (NYSE:GE) and Microsoft.
According to the Economatica report, Petrobras is the only Brazilian company among the 20 most profitable public companies in the Americas. All 19 others are from the United States.
(Source: iStockAnalyst )
In a report, the consulting agency, Economatica, said that Petrobras garnered a net profit of 28.9 billion reals (16.6 billion U.S. dollars) last year.
Despite the high figures, Petrobras' profit in 2009 was actually 12 percent lower than that in 2008.
According to the Economatica, Petrobras' profit in 2009 was only lower than that of U.S. oil giant Exxon Mobil's (NYSE:XOM) , which reported profits of 19.28 billion dollars. The difference between the two companies' figures was of only 13.7 percent, the lowest since the Economatica started the comparisons in 1994.
U.S. software company Microsoft (NASDAQ:MSFT) ranked third in the list, with 16.25 billion dollars, followed by retail giant Wal-Mart (NYSE:WMT) , with 13.49 billion dollars, and computer giant IBM (NYSE:IBM) , with a net profit of 13.42 billion dollars.
In 2008, due to the dollar's higher value compared to the Brazilian currency real, Petrobras had ranked fifth on Economatica's list after Exxon Mobil, Chevron Texaco, General Electric (NYSE:GE) and Microsoft.
According to the Economatica report, Petrobras is the only Brazilian company among the 20 most profitable public companies in the Americas. All 19 others are from the United States.
(Source: iStockAnalyst )
