Brazil’s state energy giant Petrobras reported a 41.5% decline in its profits for the third quarter of the year, missing analyst estimates. At the same time, the oil giant said it expected full-year oil and gas output to be higher than previously estimated. Petrobras reported a recurring net profit of 27.2 billion reais, lower than the expected 28.74 billion reais. The company said it now expected to produce an average of 2.4 million barrels of oil equivalent daily this year, up from an earlier projection of 2.3 million boed. Petrobras attributed…
