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Brazil oil giant Petrobras second quarter results due

3 August 2012 Last updated at 09:17 BST

The Brazilian oil giant Petrobras is set to announce its second quarter results.

The company is leading drilling operations in Brazil's deep water oil-fields.

But for all the money Petrobras is due to earn from exploiting such huge reserves of crude, its profits and its share price have both been on the slide.

Jeremy Howell reports.