Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR ) Q4 2024 Results Conference Call February 27, 2025 10:00 AM ET Company Participants Fernando Melgarejo - Chief Financial and Investor Relations Officer Magda Chambriard - Chief Executive Officer Clarice Coppetti - Executive Director of Corporate Affairs Claudio Schlosser - Executive Director for Logistics, Sales and Markets Mário Spinelli - Executive Director for Governance and Compliance Mauricio Tolmasquim - Executive Director for Energy Transition and Sustainability Renata Baruzzi - Executive Director for Engineering, Technology and Innovation William France da Silva - Executive Director for Industrial Processes and Products Sylvia dos Anjos - Director for Exploration and Production Eduardo Molinari - Digital Project Manager Conference Call Participants Bruno Montanari - Morgan Stanley Gabriel Barra - Citi Monique Greco - Itaú BBA Eduardo Molinari Good morning, everyone.
Petrobras, the Brazilian state oil corporation, reported a disappointing fourth quarter with a net loss of 17 billion reais ($2.8 billion), compared to a profit of 31 billion reais the previous year.
Shares of Brazil's state-run oil firm Petrobras fell 4% on Sao Paulo's B3 exchange as markets opened on Thursday, after analysts were caught by surprise by capital expenditure spending 15% above the firm's guidance for 2024.
Brazil's Petrobras posted a net loss of 17 billion reais ($2.8 billion) in its fourth quarter due to exchange rate variation on debts between the state-run oil firm and its subsidiaries abroad, it said in a filing on Wednesday.
PBR partners with Banco do Brasil to fund sustainability projects, highlighting its commitment to decarbonization and energy transition.
Brazil's state-run oil firm Petrobras is considering canceling a tender to charter a production storage and offloading vessel (FPSO) from India's Shapoorji Pallonji Energy, two sources with knowledge of the matter told Reuters.
As Petrobras gears up to report Q4 earnings on Feb. 26, let's find out how the expectations stack up. Also, know how to play the stock ahead of results.
High Rates, High Returns: How Petrobras Thrives Amid Treasury Turmoil
In the latest trading session, Petrobras (PBR) closed at $14.83, marking a +0.47% move from the previous day.
PBR has started oil production at the Buzios field with its high-capacity FPSO, Almirante Tamandare.
Brazilian state-run oil firm Petrobras expects to boost its diesel output by some 120,000 barrels per day (bpd) this year due to the expansion of S-10 diesel production in some of its refineries, the firm's industrial processes head said.
PBR's latest discovery in the Buzios Field highlights the potential for additional reserves beneath the main reservoir.