Brazil's Petrobras swings to near $3 billion net profit in fourth quarter

Core Viewpoint - Petrobras reported a net profit of 15.6 billion reais ($2.96 billion) for the fourth quarter, marking a significant turnaround from a net loss of 17 billion reais in the same period last year [1]. Financial Performance - The net profit of 15.6 billion reais represents a substantial recovery for Petrobras, indicating improved financial health compared to the previous year's loss [1]. - The exchange rate used for conversion was $1 = 5.2639 reais, highlighting the currency's impact on reported earnings [1].