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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:

PETROBRAS NET INCOME R$ 5,031 MLN
2018, April, 25, 09:50:00

UZBEKISTAN WILL JOIN TO $8 BLN

REUTERS - Uzbekistan plans to join an $8 billion project to build a natural gas pipeline from Turkmenistan to India, Uzbek President Shavkat Mirziyoyev said on Monday, although it was unclear whether Tashkent might eventually ship gas through it.

PETROBRAS NET INCOME R$ 5,031 MLN
2018, April, 25, 09:45:00

EGYPT NEED INVESTMENT $10 BLN

REUTERS - Egypt aims for foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said

PETROBRAS NET INCOME R$ 5,031 MLN
2018, April, 25, 09:40:00

BP - ROSNEFT STRONG PARTNERSHIP

REUTERS - BP (BP.L) has a “very strong” partnership with Russian oil giant Rosneft (ROSN.MM) but will steer away from politics, Chief Executive Officer Bob Dudley said on Tuesday, as Moscow could face new western sanctions.

PETROBRAS NET INCOME R$ 5,031 MLN
2018, April, 25, 09:35:00

SHELL SELLS ARGENTINA $0.95 BLN

SHELL - Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country. Additionally, after the transaction closes, the businesses acquired by Raízen will continue their relationships with Shell through various commercial agreements, which represent an estimated value of US$0.3 billion.

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