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Petroleo Brasileiro SA Petrobras | 6-K: Financial Performance 4Q23

SEC announcement ·  Mar 8 14:26
Summary by Moomoo AI
Petroleo Brasileiro SA Petrobras (Petrobras) reported its financial performance for the fourth quarter of 2023, highlighting significant achievements and strategic advancements. The company's CEO, Jean Paul Prates, expressed pride in the excellent economic and financial results, emphasizing the construction of a more solid and resilient Petrobras capable of generating long-term value. The company has adapted to a new energy context, focusing on decarbonization and strategic shifts to reduce fossil fuel demand. Petrobras continues to invest in oil and gas exploration, which generates the highest returns, and diversifies into profitable low carbon businesses. The company's total shareholder return for 2023 reached 112%, outpacing the majors' highest return of 20%. Key financial highlights for 2023 include the second-highest annual EBITDA in history at...Show More
Petroleo Brasileiro SA Petrobras (Petrobras) reported its financial performance for the fourth quarter of 2023, highlighting significant achievements and strategic advancements. The company's CEO, Jean Paul Prates, expressed pride in the excellent economic and financial results, emphasizing the construction of a more solid and resilient Petrobras capable of generating long-term value. The company has adapted to a new energy context, focusing on decarbonization and strategic shifts to reduce fossil fuel demand. Petrobras continues to invest in oil and gas exploration, which generates the highest returns, and diversifies into profitable low carbon businesses. The company's total shareholder return for 2023 reached 112%, outpacing the majors' highest return of 20%. Key financial highlights for 2023 include the second-highest annual EBITDA in history at US$ 52.4 billion, operating cash flow of US$ 43.2 billion, and gross debt under control at US$ 62.6 billion. The company also reported annual production records, with total own production in the pre-salt reaching 2.17 MMboed, representing 78% of the total. Petrobras proposed dividends relative to 2023 amounting to R$ 72.4 billion, benefiting Brazilian society through its 37% ownership. The company's financial health remains robust, with a focus on capital discipline and solid governance.

This announcement is a separate document:

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