Publish in Special Reports - Wednesday, May 6, 2015
Petrobras headquarters in Rio de Janeiro. The state oil giant posted Latin America's second-highest losses last year, according to the Latinvex 500. (Photo: Petrobras)
Petrobras, from most profitable to second-worst performer in Latin America.
BY JOACHIM BAMRUD
Brazil’s state oil giant Petrobras remains Latin America’s top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to the Latinvex 500 ranking of the region’s 500 largest companies.
The ranking, which is based on data from Economatica and individual companies, shows that as a result of posting a $7.4 billion loss last year, Petrobras has gone from Latin America’s most profitable company to the second-worst performer after Mexican state oil company Pemex (a perennial money loser).
The 500 companies on the Latinvex 500 saw their combined revenues decline 7.5 percent to...
Keywords: Alfa, Brazil, Colombia, Ecopetrol, Mexico, Pacific Rubiales, Pemex, Petrobras
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THE KEY NUMBERS
Latinvex 500 (2014): Key Country Results
Latinvex 500 (2014): Top Airline Companies
Latinvex 500 (2014): Top Chemical Companies
Latinvex 500 (2014): Top 50 Electricity Companies
Latinvex 500 (2014): Top 50 Food & Beverage Companies
Latinvex 500 (2014): Top 25 Oil & Gas Companies