Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, is expected to report a year-on-year decline in fourth quarter profits as it bought costlier fuel from abroad to feed strong domestic demand in Latin America's largest economy. Petrobras is expected to post a net profit of 9.5 billion Brazilian reais ($6 billion) in the fourth quarter, down 10% from BRL10.6 billion in the same period of 2010, according to the median estimate of seven analysts polled by Dow Jones Newswires. Earnings before interest, taxes, depreciation and amortization, or Ebitda, were pegged at BRL17 billion on revenues of BRL66 billion. The firm has had to increase imports of expensive gasoline and diesel fuel as Brazil's booming economy boosts consumption, although higher domestic fuel prices and a jump in domestic crude oil production is expected to soften the blow.
2012-05-16T14:30:00Z
Installations of wind farms with less than 20 megawatts of capacity may rise to a record this year if lawmakers expand a federal tax credit.
Two big wind development projects on Appalachian ridges in Bedford and Clearfield counties have been canceled, and fewer new turbines will be spinning across the nation next year due to the possible end of a federal tax credit program that has driven development.
The world's most efficient solar cells, a new vaccine against chicken cholera and recycling car tyres to make steel are among the five winning inventions at the inaugural Australian Collaborative Innovation Awards.