Rio,5/13/2004(Agência Brasil) - Petrobras had first quarter profits of US$1.2 billion (R$3.972 billion), an increase of 30% over the last quarter of 2003. Operational revenue reached US$7.3 billion (R$23.212 billion), which was actually down 3% from the last quarter of 2003.

Total sales on the domestic market fell 2%, with most fuel prices stable. Exports of petroleum were down sharply, 27%, but a spike in international prices compensated for the lower volume.

Translator: Allen Bennett