Summary by Moomoo AI
Petroleo Brasileiro SA Petrobras (Petrobras) reported its financial performance for the first quarter of 2024, showcasing robust results with an adjusted EBITDA of $12.1 billion, an operating cash flow of $9.4 billion, and a net profit of $4.8 billion. The company's financial debt stood at $27.7 billion, marking the lowest level since 2010, while gross debt was controlled at $61.8 billion, aligning with the strategic plan. Petrobras highlighted its contribution to society by paying $68.2 billion in taxes and distributing $14.60 billion in shareholder remuneration, including dividends and share buybacks. A production milestone was achieved in the Búzios field with a cumulative production of 1 billion barrels of oil. The refining utilization factor reached 92%, with a high yield for diesel, jet fuel, and gasoline. The company also expanded its sustainable product offerings, including the launch of R5 diesel with renewable content. Additionally, Petrobras acquired I-RECs to certify that all electricity acquired for its activities was generated from renewable sources, achieving neutrality of scope 2 emissions in 2023. The financial report was consolidated in accordance with IAS 34 and reviewed by independent auditors.