Petróleo Brasileiro achieved strong in the quarter last quarter and managed an all-around beat. The company made progress in both the search for new reserves and the decarbonization of its business activities. By increasing the utilization rate of its refineries and introducing new products with renewable content, Petrobras continues to be competitive. The company anticipates investing in alternative energy sources like hydrogen and offshore wind. In climate developments, Petrobras decreased methane emissions, a 60% decrease from 2015. Furthermore, the company reached full P-68 production capability in the Berbigao and Sururu fields. During the quarter, the new production units observed significant gains in efficiency. The FPSO Anna Nery has also arrived at the Marlim field. In addition, Almirante Barroso and Anita Garibaldi have arrived at the shipyard in Brazil. Petrobras has begun the contracting process for chartering two floating, production, storage, and offloading vessels. This will be deployed at deepwater assets in the Sergipe-Alagoas Basin off Brazil to increase the country’s natural gas supply. We give Petróleo Brasileiro S.A. – Petrobras a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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