By Jeffrey T. Lewis and Luciana Magalhaes 

SÃO PAULO -- Brazilian state-controlled oil company Petróleo Brasileiro SA, or Petrobras, said Thursday it posted a net loss in the fourth quarter and in 2017 because of a series of extraordinary expenses, including $3.4 billion to settle a class-action suit in the U.S.

The company had a loss of 5.5 billion reais ($1.7 million) in the last three months of 2017, the Rio de Janeiro-based company said. For the full year, Petrobras reported a net loss of 446 million reais.

Petrobras said it would have had a net profit of 7.1 billion reais in 2017 without the extraordinary payments.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com and Luciana Magalhaes at Luciana.Magalhaes@wsj.com

 

(END) Dow Jones Newswires

March 15, 2018 08:48 ET (12:48 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
PETROBRAS ON (BOV:PETR3)
Gráfico Histórico do Ativo
De Fev 2024 até Mar 2024 Click aqui para mais gráficos PETROBRAS ON.
PETROBRAS ON (BOV:PETR3)
Gráfico Histórico do Ativo
De Mar 2023 até Mar 2024 Click aqui para mais gráficos PETROBRAS ON.