Petroleo Brasileiro SA (Petrobras) has recorded its second highest annual internet revenue, raking in $24.9 billion (BRL 124.6 billion) for 2023, and plans to distribute 58.1 p.c of that as dividends.
Earnings per widespread and most well-liked share got here at $1.91, the Brazilian state-owned oil and fuel firm mentioned in a monetary assertion.
Petrobras’ internet revenue final 12 months fell from $36.6 billion for 2022, when costs soared following Russia’s invasion of Ukraine. Nonetheless, the 2023 determine represents development from Petrobras’ $19.9 billion internet revenue for 2021, earlier than the conflict.
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Final 12 months, file operational achievements, together with in manufacturing, offset the decline in costs.
“Even going through a tougher situation, we broke manufacturing data after manufacturing data, elevated investments, diminished monetary debt and put 4 new platforms into operation on this first 12 months of administration”, Petrobras chief government Jean Paul Prates mentioned in a separate information launch. The previous senator was named to the put up January 2023 underneath the brand new authorities of President Luiz Inacio Lula da Silva.
Petrobras’ pre-salt manufacturing totaled 2.17 million barrels of oil equal, a brand new firm file, having elevated 10 p.c year-on-year. “Consequently, the pre-salt already represents 78 p.c of the corporate’s whole manufacturing”, Petrobras mentioned within the press launch. “The great productiveness of the deposits on this frontier was as soon as once more confirmed by FPSO [floating production, storage and offloading facility] Almirante Barroso reaching peak manufacturing in file time: lower than 5 months”.
S-10 diesel manufacturing and gross sales achieved data of 428,000 barrels per day (bpd) and 463,000 bpd respectively.
“2023 was additionally marked by carbon effectivity data in each Refining and E&P [exploration and production], which allowed a discount of 1.8 million tons of CO2e [carbon dioxide equivalent] in absolute emissions in comparison with 2022”, Petrobras mentioned. “In comparison with 2015, when the Paris Settlement was signed, the discount is already over 40 p.c. As well as, Petrobras achieved its greatest historic end in methane emissions discount, certainly one of its priorities”.
It paid $1.2 billion in debt in 2023. “Gross debt stays underneath management, at US$ 62.6 billion, even after accounting for a US$ 10 billion enhance as a result of leases, together with US$ 8.7 billion associated to the lease of the 4 new manufacturing platforms that began manufacturing in 2023: the FPSOs Anna Nery and Anita Garibaldi, within the Marlim and Voador revitalization mission, the FPSO Almirante Barroso, the fifth unit to return into operation within the Búzios area, and the FPSO Sepetiba, the second definitive manufacturing system within the Mero area”, it mentioned.
Earnings earlier than revenue tax, depreciation and amortization landed at BRL 262.2 billion for 2023, whereas working money circulate stood at BRL 215.7 billion—each marking the second highest figures for Petrobras in these two monetary metrics.
Petrobras’ investments in 2023 rose 29 p.c year-over-year to $12.7 billion.
It paid BRL 240 billion in taxes to the federal authorities and different authorities entities.
“We’re nearer to society. To offer an instance, throughout this administration, we launched the most important requires socio-environmental and cultural initiatives within the historical past of Petrobras”, declared Prates.
Petrobras mentioned its shareholder return for 2023 surpassed comparable firms. “The TSR – Whole Shareholder Return, which takes into consideration the fee of dividends and the variation of most well-liked ADRs on the New York Inventory Trade, was 112 p.c, a a lot greater proportion than that of different firms of the identical measurement within the trade, which reached 20 p.c most”, it mentioned.
Petrobras mentioned in a separate information launch its board of administrators submitted a proposal of BRL 14.2 billion in last dividend for 2023, to be determined on the firm’s annual common meeting (AGM) scheduled for April 25, 2024. “If accredited by the AGM, contemplating the dividends anticipated by the Firm all year long, adjusted by Selic [Brazilian central bank interest rate], the full dividends for the 12 months 2023 will whole R$ 72.4 billion”, it mentioned.
Trying ahead, Prates mentioned, “That is the primary 12 months of a journey that can make Petrobras a pacesetter of the truthful power transition in Brazil, in a gradual and aware method”.
“We’ll face the challenges by exploiting the synergies between our companies and leveraging our experience, by no means neglecting worth creation, correctly the case for a corporation that desires to stay aggressive and perpetuate worth for future generations”, the Petrobras boss added.
To contact the writer, e-mail jov.onsat@rigzone.com
