Petróleo Brasileiro S.A. – Petrobras: These Are The 6 Pivotal Factors Impacting Their Performance In 2024 & Beyond! 

In the first quarter of 2024, Petrobras achieved consistent cash generation, which improves its security regarding future investments, including those targeting production growth. A noteworthy result is the 3.7% year-on-year growth in Petrobras’ production, suggesting a steadily increasing production curve projected in the strategic plan. Contributing to this was the excellent performance of the FPSOs Almirante Barroso in Buzios and P-71 in Itapu, reaching peak production last year. Regarding the downstream side, Petrobras observed weaker sales volumes due to the seasonality of the first quarter but still achieved high refinery utilization of 92%. Additionally, the company expanded its offer of sustainable products, releasing R5 diesel with renewable content at RPBC. Petrobras also signed a partnership with Brazil’s second-largest asphalt retailer to sell a more sustainable type of asphalt.