May 14, 2020 / 10:48 PM / 20 days ago

Brazil's Petrobras books $11 bln impairment, warns consumer behavior changes likely permanent

RIO DE JANEIRO, May 14 (Reuters) - Brazilian state-run oil firm Petrobras took a 65.3 billion-real ($11.2 billion) impairment on its exploration and production assets on Thursday, warning investors that changes in consumer behavior resulting from the coronavirus pandemic are likely permanent.

The impairment led Petroleo Brasileiro SA, as the firm is formally known, to book a first-quarter net loss of 48.5 billion reais.

Reporting by Gram Slattery Editing by Chris Reese

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