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2017-11-15 12:32:00

PETROBRAS NET INCOME R$ 5,031 MLN

PETROBRAS NET INCOME R$ 5,031 MLN

PETROBRAS - Net Income of R$ 5,031 million in 9M-2017, compared to a loss of R$ 17,334 million in 9M-2016, as a result of:

  • higher export revenues, with higher average prices;
  • reduction in margins and sales volumes of oil products in Brazil;
  • lower expenses with personnel and with write-off of dry and/or sub commercial wells;
  • gain on the sale of the Company's interest in Nova Transportadora do Sudeste (NTS) in 2Q-2017;
  • reduction of impairments; and
  • higher expenses with adherence to Brazilian Federal Settlement Programs.
  • Net Income reached R$ 266 million in the 3Q-2017, same level as 2Q-2017.
  • Stable Adjusted EBITDA* of R$ 63,571 million in 9M-2017, reflecting lower operational expenses and increase in exports compensated lower oil products margins. Adjusted EBITDA Margin* was 31% in 9M-2017.
  • In 9M-2017, Free Cash Flow* reached R$ 37,456 million, 26% higher than 9M-2016. This result reflects the combination of improvement in operating activities and reduction in investments. Free Cash Flow* in 3Q-2017 was positive for the tenth quarter in a row.
  • Gross debt decreased 7%, from R$ 385,784 million as of December 31, 2016 to R$ 359,412 million and Net Debt* decreased 11%, from R$ 314,120 million as of December 31, 2016 to R$ 279,237 million as of September 30, 2017.
  • In dollars, the decrease was of 9% (US$ 8,238 million) in Net Debt*, from US$ 96,381 million as of December 31, 2016 to US$ 88,143 million as of September 30, 2017. In addition, the liquidity management led to a weighted average maturity of outstanding debt to increase from 7.46 years as of December 31, 2016 to 8.36 years as of September 30, 2017.
  • Reduction of the ratio between Net Debt* and LTM Adjusted EBITDA*, from 3.54 as of December 31, 2016 to 3.16 as of September 30, 2017. During the same period, Leverage* decreased from 55% to 51%.
  • Petrobras employees as of September 30, 2017 were 62,258, a decrease of 12% compared to September 30, 2016, due to the voluntary separation incentive plan.

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Earlier:

 

 PETROBRAS NET INCOME R$ 4,765 MLN
2017, August, 12, 12:26:00

PETROBRAS NET INCOME R$ 4,765 MLN

PETROBRAS - Net Income of R$ 4,765 million in 1H-2017, compared to a loss of R$ 876 million in 1H-2016

 

 

 PETROBRAS SELLS ASSETS
2016, December, 22, 15:45:00

PETROBRAS SELLS ASSETS

Petroleo Brasileiro SA said on Wednesday it will sell $2.2 billion worth of assets to France's Total SA, including stakes in oilfields and two thermal power stations.

 

 PETROBRAS NET LOSS  R$ 16,458 MLN
2016, November, 12, 12:04:00

PETROBRAS NET LOSS R$ 16,458 MLN

PETROBRAS - Net loss of R$ 16,458 million, compared to net income of R$ 370 million in the 2Q-2016,

 

 PETROBRAS CUTS 25%
2016, September, 21, 18:30:00

PETROBRAS CUTS 25%

Petróleo Brasileiro SA, as Petrobras is formally known, pledged up to $74.1 billion in capital spending for the 2017-2021 period compared with a $98.4 billion target in the prior four-year 2015-2019 plan, according to a securities filing.

 

 PETROBRAS CUTS 11,704 JOBS
2016, September, 5, 18:35:00

PETROBRAS CUTS 11,704 JOBS

In April, the company said it expected up to 12,000 employees to leave as part of the layoff program.

 

 
 

 

 

Tags: PETROBRAS, BRAZIL

Chronicle:

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PETROBRAS NET INCOME R$ 5,031 MLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

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PETROBRAS NET INCOME R$ 5,031 MLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

PETROBRAS NET INCOME R$ 5,031 MLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

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