BRAZIL'S state-controlled oil company Petrobras has posted a massive increase in quarterly profits, bolstered by high crude prices in the international market, with exploration and production activities accounting for 80% of the gains. The company posted net profits of 44.6 billion reais ($8.9 billion) in the first quarter of 2022 compared with net gains of 1.2 billion reais in the same period a year ago. Net revenues were up 64.4% to 141.6 billion reais.
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