Petrobras(PBR)
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Petrobras(PBR) - 2023 Q4 - Annual Report
2024-04-12 10:04
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of April, 2024 Washington, D.C. 20549 FORM 6-K Commission File Number 1-15106 PETRÓLEO BRASILEIRO S.A. – PETROBRAS (Exact name of registrant as specified in its charter) Brazilian Petroleum Corporation – PETROBRAS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Rio de Janeiro, April 11, 2024 – Petróleo Brasileiro S.A. – Petrobras informs that, on April 11, 2024, a precautionary decision w ...
Petrobras(PBR) - 2023 Q4 - Annual Report
2024-04-11 21:49
BR PETROBRAS Annual Report and Form 20-F 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2023 Commission File Number 001-15106 Petróleo Brasileiro S.A. — Petrobras (Exact name of registrant as specified in its charter) Brazilian Petroleum Corporation — Petrobras (Translation of registrant's name into English) The Federative Republic of Brazil D5 ( ...
Petrobras(PBR) - 2023 Q4 - Earnings Call Transcript
2024-03-09 03:35
Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Q4 2023 Earnings Conference Call March 8, 2024 9:30 AM ET Company Participants Jean Paul Prates - President Clarice Coppetti - Corporate Affairs Sergio Caetano Leite - Financial and IR Director Mario Spinelli - Governance and Compliance Director Mauricio Tolmasquim - Energy Transition and Sustainability Director Joelson Mendes - Exploration and Production Director William Franca - Industrial Processes and Products Claudio Schlosser - Logistics, Trade and Marke ...
Petrobras(PBR) - 2023 Q3 - Earnings Call Transcript
2023-11-10 21:10
Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Q3 2023 Earnings Call Transcript November 10, 2023 8:30 AM ET Sergio Caetano Leite - Chief Finance and Investor Relations Officer Carlos Travassos - Chief Engineering, Technology and Innovation Officer William Franca - Chief Industrial Processes and Products Officer Operator Company Participants Jean Paul Prates - Chief Executive Officer Ana Paula Zettel - Executive Director for Partnerships and Exploration and Production Processes Mauricio Tolmasquim - Chief ...
Petrobras(PBR) - 2023 Q3 - Earnings Call Presentation
2023-11-10 13:31
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Petrobras(PBR) - 2023 Q2 - Earnings Call Transcript
2023-08-04 18:39
Financial Data and Key Metrics - The company increased investments to $5.7 billion in the first half of the year, with gross debt maintained at $58 billion and operating cash flow reaching $10 billion [2] - Net profit for the quarter totaled $5.8 billion, with free cash flow at $7 billion and a comfortable cash position of $15.8 billion [130] - Adjusted EBITDA remained stable, with Q1 and Q2 levels close to recurring EBITDA, reflecting lower disinvestment due to the asset portfolio [3] - The company's net debt to EBITDA ratio was 0.74x, indicating strong financial health [130] Business Line Data and Key Metrics - Diesel production capacity with renewable content is projected to increase by 146% later this year, with a new unit authorized to expand production to 12 million liters per day [5] - The company achieved record diesel production of 2.11 million cubic meters in the first half of 2023, with expectations to reach 2.38 million cubic meters in July [39] - Refinery utilization factor reached 93%, the highest since 2015, despite scheduled shutdowns [115] - Pre-salt production accounted for 78% of total production, with over 2 million barrels per day [132] Market Data and Key Metrics - Brent crude prices dropped significantly from $114 per barrel in Q2 2022 to $78 per barrel in Q2 2023, impacting results [3] - Russian diesel imports to Brazil accounted for over 80% of total diesel imports in July, creating competitive pressure [76][148] - The company reduced oil exports due to higher refinery utilization, processing more pre-salt oil domestically [22] Company Strategy and Industry Competition - The company is focusing on expanding renewable diesel production and reducing emissions, with a maritime transport test using 24% renewable content reducing emissions by 17% [5] - Petrobras is investing in energy transition, with plans to allocate up to 15% of total investments to low-carbon initiatives [125] - The company is exploring partnerships and M&A opportunities in petrochemicals and fertilizers, aligning with long-term strategic goals [105] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the company despite adverse external conditions, including Brent price drops and currency fluctuations [3] - The company is committed to leading the energy transition in Brazil, with a focus on decarbonization and renewable energy [125] - Petrobras is monitoring market volatility and adjusting its commercial strategy to maintain competitiveness, particularly in light of Russian diesel imports [148] Other Important Information - The company launched a diversity supplement to reinforce awareness of diversity and inclusion internally and in society [2] - Petrobras received multiple awards for innovation, including the MIT Award and the Valor Inovação Award [10] - The company is testing green recycling processes and hybrid vessels to reduce emissions and costs [23][146] Q&A Session Summary Question: How does the company view its minimum optimal cash level? - The company maintains a minimum cash level of $5 billion, with a reference level of $8 billion, aligning with strategic plans [162] Question: What are the company's plans for energy transition and biofuels? - Petrobras is focusing on biofuels due to Brazil's abundant land and water resources, existing logistics for liquid fuels, and the ability to adapt refining units for biofuel production [78] Question: How is the company managing its debt levels? - Gross debt is within established limits, and the company has reduced financial debt by $0.6 million, maintaining a comfortable debt trajectory [7] Question: What is the company's dividend policy? - The company revised its dividend payout policy, reducing the payout ratio from 60% to 45% of free cash flow, in line with global peers [131] Question: How is the company addressing competition from Russian diesel? - Petrobras is optimizing its refining complex and logistics assets while monitoring the market for competitive adjustments [148] Question: What are the company's plans for petrochemicals and fertilizers? - Petrobras is studying the return to fertilizer production and exploring partnerships in petrochemicals, aligning with long-term strategic goals [51][105]
Petrobras(PBR) - 2023 Q2 - Earnings Call Presentation
2023-08-04 13:57
FPSO Almirante Barroso 1st oil in May 2023 political, economic and social developments, receipt of governmental approvals and licenses and our ability to obtain financing. In addition, this presentation also contains certain financial measures that are not recognized under Brazilian GAAP or IFRS. These measures do not have standardized meanings and may not be comparable to similarly-titled measures provided by other companies. We are providing these measures because we use them as a measure of company perfo ...
巴西石油(PBR) - 2023 Q2 - Quarterly Report
2023-08-02 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 o f the Securities Exchange Act of 1934 For the month of August, 2023 Commission File Number 1-15106 PETRÓLEO BRASILEIRO S.A. – PETROBRAS (Exact name of registrant as specified in its charter) Brazilian Petroleum Corporation – PETROBRAS (Translation of Registrant's name into English) Avenida Henrique Valadares, 28 – 19th floor 20231-030 – Rio de Janeiro, RJ Fede ...
Petrobras(PBR) - 2023 Q1 - Earnings Call Transcript
2023-05-12 21:47
Carla Albano Company Participants Hi. Good afternoon, everyone. Welcome to Petrobras Webcast with Analysts and Investors about the First Quarter 2023 Results. It's great to have you join us today. We'd like to inform you that all participants will follow the transmission by Internet as listeners. After an introduction, a Q&A session will begin. You can send us questions by e-mail at petroinvest@petrobras.com.br. To begin, we will watch a message from our CEO, Jean Paul Prates. Dear investors, as we open thi ...
Petrobras(PBR) - 2022 Q4 - Annual Report
2023-03-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2022 Commission File Number 001-15106 Petróleo Brasileiro S.A. — Petrobras (Exact name of registrant as specified in its charter) Brazilian Petroleum Corporation — Petrobras (Translation of registrant’s name into English) The Federative Republic of Brazil (Jurisdiction of incorporation or organization) Av ...