Petrobras Losing $8 Billion on Cheap Gasoline - Bloomberg: "Lacking refining capacity to meet demand, Petrobras increased gasoline imports 65 percent to 84,000 barrels a day in the third quarter, according to earnings statements. The imports, which the company sells at about 8 percent less than cost, caused year-to-date losses at its refining division to widen to 17.3 billion reais ($8.4 billion) from 10 billion reais for the whole of 2011."
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