Brazil's Petrobras has received permission from the country's environmental agency to remove corals from the bottom of the drilling ship it intends to use in the Foz do Amazonas area, according to documents reviewed by Reuters.
Petrobras, a leading oil company in Brazil, is worth almost $80 billion and ranks among the largest integrated oil firms in the world. The company has an interesting range of assets that it is constantly growing, making it more attractive for investors. Its solid financial results highlight its stability and potential for growth in the oil sector.
By December 31, 2024, PBR reported a net debt of $52,240 million. At the end of the year, the company had cash and cash equivalents totaling $3,271 million.
Petrobras' results for the fourth quarter of 2024 showed increased capital expenditures, which affected dividends and raised worries about its long-term dividend plans. The rise in leverage ratio and a 25% annual decrease in free cash flow indicate financial pressure due to higher investments. Additionally, political and environmental issues, along with uncertain factors, make the future outlook for Petrobras more uncertain.
Petrobras, Brazil's state-owned oil company, saw its shares drop by 4% on the B3 exchange in Sao Paulo when the market opened on Thursday. This decline came as analysts were surprised to find that the company's capital spending for 2024 was 15% higher than expected.
Brazil's Petrobras reported a net loss of 17 billion reais ($2.8 billion) for the fourth quarter, mainly because of changes in exchange rates affecting its debts with foreign subsidiaries. This information was shared in a filing on Wednesday.
As Petrobras prepares to announce its Q4 earnings on February 26, let's take a look at what the expectations are. Additionally, we will discuss strategies for trading the stock before the results are released.
Petrobras, the state-owned oil company in Brazil, plans to increase its diesel production by around 120,000 barrels per day this year. This rise is expected because of the growth in S-10 diesel production at several of its refineries, according to the head of the company's industrial processes.
Petrobras, a Brazilian oil company, plans to set up a veterinary center in the Amazon to help animals in case of an oil spill, according to two sources who spoke to Reuters on Monday. They expect the center to be completed by the end of March.
Petrobras, the state-owned oil company in Brazil, announced on Friday that they have found oil in a well located in the offshore Buzios field. However, they did not provide any information about how much oil was discovered.