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BUSINESS BRIEFING
Petrobras Projects Results in 2010
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The president of Brazil's state-run oil company said he expects new ultra-deep-water finds to yield 100,000 barrels of oil a day by 2010.
Petroleos Brasileiro President Sergio Gabrielli said his company would begin testing production in the fields on Sept. 2, but that he did not expect the new fields to have a significant impact on oil production until 2013.
Gabrielli declined to estimate the size of the newly found reserves, which some geologists believe can hold as much as 55 billion barrels of oil, but he said Petrobras had the "biggest potential to grow of all major oil companies."
EARNINGS
AnnTaylor Stores said its second-quarter profit fell 7.7 percent, to $29.3 million. Revenue slipped 3.6 percent to $592.3 million. Sales at stores open at least 13 months fell almost 11 percent.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
