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International

Oil theft costs Petrobras nearly $40 million per year

September 24, 2019 Reprints

Roberto Castello Branco, chief executive of Brazilian oil firm Petroleo Brasileiro SA, said that oil theft costs the company's distribution subsidiary Petrobras Transporte SA nearly $40 million per year, Reuters reports. Theft from Petrobras' pipelines rose to a record high of 261 incidents in the states of Rio de Janeiro and Sao Paulo last year.

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Oil theft costs Petrobras nearly $40 million per year

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