Petrobras Energia attributed the decline to multiple problems: There were the sales drops and the devaluing of the peso. Also, exploration costs grew from P$49 million in first quarter 2008 to P$151 million in first quarter 2009. Sales margins dropped to 33.2% from 54.2% in the year-ago period.
- More on PZE
- Stock Wrap: The Real Story, October 14
- Emerging Markets, Private Equity and Balance Sheet Boosts
- Petrobras Energia Reorganizes (Correction)
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- Stock Search: General Motors, Citigroup
- 'Fast Money' Recap: Behind the Market Letdown
- Tar Sands to Ethanol: Wacky Year for Energy
- China Seeks to Invest $10 Billion in Brazil Oil
- Petrobras Find May Hold 2B Barrels
- Market Activity
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