Our net income reached R$5 billion in the first nine months of 2017, reversing the loss posted in the same period a year ago and reflecting the improvements made in operating performance, in line with the metrics set forth in the company’s strategic planning. In 3Q17, our net income closed at R$266 million, at the same level as in 2Q17.
In October, our total oil and natural gas output was 2.77 million barrels of oil equivalent per day (boed), of which 2.67 billion boed produced in Brazil and 104,000 boed abroad.
We are at the teaser stage for the opportunity regarding the process of divesting 100 percent of our interest in Petrobras Oil & Gas B.V. (POGBV), a joint venture formed by us (50%), BTG Pactual E&P B.V. (40%), and Helios Investment Partners (10%). We are leading the sales process.
We hereby announce that on November 3, 2017, the United States Federal Court of Appeals for the Second Circuit granted a petition for stay filed by the company. Therefore, the class action will remain suspended until the US Supreme Court decides whether to analyze our appea