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SAO PAULO, Aug 12 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA expects local demand for fuels to improve in the second half of 2016 as the economy is expected to begin its recovery from the worst recession in eight decades, company officials said Friday.
Executives of Petrobras, as the company is known, spoke with reporters and analysts after posting net gains of 370 million reais in the second quarter, down 30 percent from the same period of 2015, late on Thursday. (Reporting by Reese Ewing; Editing by Chizu Nomiyama)