Petrobras records net profit of R$124.6 billion in 2023, a reduction of 33.8% compared to 2022

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According to the company, even with the drop, the result was the second best in the state-owned company’s history. Distribution of dividends to shareholders could reach R$72.4 billion. Petrobras headquarters building, in the center of Rio Marcos Serra Lima/g1 Petrobras recorded a net profit of R$124.6 billion in 2023, according to the company’s results released this Thursday (7). The amount is the second largest in the history of the state-owned company. Compared to 2022, the result represents a reduction of 33.8%. Last year, the company had revenues of R$188.3 billion, the highest in the historical series. In the 4th quarter of 2023 alone, Petrobras’ net profit was R$31 billion. The result represents a reduction of 28.4% compared to the same period in 2022, but a growth of 16.6% compared to the 3rd quarter of 2023. The company reported that it faced challenges in 2023, mainly due to the reduction of 18 % in the international price of oil (Brent). Even so, Petrobras reported that it broke production records and increased investments. “Despite these challenges, it is worth highlighting that such negative impacts were partially mitigated by the increase in the volume of oil sold over the period, with emphasis on the growth in exports”, says the report. According to the report released by the state-owned company, US$ 12.7 billion (R$ 62.6 billion) were invested in investments last year. The total represents an increase of 29% compared to 2022. Dividends According to the state-owned company, the payment of dividends, in 2023, to shareholders should reach R$72.4 billion. Petrobras is still awaiting approval for the distribution of R$14.2 billion, which will be analyzed in April by the company’s Ordinary General Meeting. “The approval of the dividend is compatible with the Company’s financial sustainability and is in line with the commitment to generating value for society and shareholders”, stated the company. If the total of R$72.4 billion is confirmed, the total distributed will suffer a reduction of more than 60%, as the company paid shareholders more than R$200 billion in 2022. The balance sheet also shows that the state-owned company paid R$ $240 billion in taxes to the Union and other public bodies last year. Debt and Production Petrobras reported that it reduced the company’s financial debt by US$1.2 billion (R$5.9 billion). Currently, the state-owned company’s gross debt is US$62.6 billion (R$309 billion) — a level considered controlled by the company. Furthermore, in 2023, total own production in the pre-salt was 2.17 million barrels of oil. According to Petrobras, the number represents an increase of 10% compared to the previous year. Now, the pre-salt represents 78% of the state-owned company’s total production. VIDEOS: Economy news

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