Petrobras Slashes Payout to $1.6 Billion After Surprise Loss
Brazil’s state-controlled oil company Petrobras plunged after it reported a surprise fourth-quarter loss and announced dividends that fell significantly short of expectations.Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC’s Congestion Pricing Pulls In $48.
Petrobras to issue dividends despite fourth quarter net loss of $2.8 billion
Brazil's Petrobras posted a net loss of 17 billion reais ($2.8 billion) in its fourth quarter due to non-recurring events, lower Brent prices and a "highly volatile" market for diesel, but aims to distribute dividends,
Petrobras Cuts Payout to $1.6B after Surprise Loss
The Brazilian oil producer has joined other majors including Exxon Mobil Corp. and Chevron Corp. who continued to reward shareholders even though free cash flow has become strained at current oil prices.
Petrobras books $2.9 billion net loss on ‘accounting issue’
Petrobras booked a net loss of 17 billion reais ($2.9 billion) in the fourth quarter of 2024, versus a net profit of 31 billion reais in the same period a year ago. Net revenues were down 9.7% from 134.3 billion reais to 121.3 billion reais.
Petrobras pledges $1.6B dividend payout despite surprise Q4 loss
Petrobras (NYSE:PBR) -4.6% post-market Wednesday after saying it plans to distribute 9.1B reais (~$1.6B) in ordinary dividends despite posting an unexpected Q4 loss due to non-recurring events including the accounting impact of a sharp devaluation of the Brazilian currency.
Petrobras plunges as higher capex surprises, Ibama staff recommends no Foz do Amazonas drilling
Petrobras (NYSE:PBR) closed -5.6% on Thursday after reporting FY 2024 capital spending surged to $16.6B, ~$2.1B above the ...
Petrobras backs its strategy after shares dip on higher investment
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 ...
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Petrobras' 2024 profits below those attained the year before
Brazil's State-owned oil company Petrobras activities yielded R$36.6 billion (US$7.5 billion) in profits last year, according ...
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Petrobras eyes major shift in subsea contracting strategy to ‘break’ market dynamics
In recent years, Petrobras has been resorting to awarding engineering, procurement, construction and installation (EPCI) ...
Brazil's Ibama staff recommend against Petrobras drilling in Amazon region
The technical staff at Brazil's environmental agency Ibama recommended that the body deny authorization for Petrobras to ...
Petrobras' Cash Performance Raises Concerns After Sharp Profit Drop Attributed to Exchange Rates
Excluding extraordinary events, the company says, 2024 profits would total $ 17 billion, a 19.7% drop compared to 2023 ...
Petrobras Urged by Lula to Cut Fuel Brokers Who ‘Rob’ Consumers
Brazil’s state-run oil producer Petrobras should get rid of intermediaries and sell directly to consumers in order to lower ...
Petrobras starts new production at Buzios, expected to become company's biggest oilfield
Petrobras starts production at Buzios 7, the company's sixth project in the Buzios oilshore offshore Brazil, expected to ...
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Petrobras' earnings decline creates concern about political influence
The Brazilian state-run company recorded a 70% drop in profit in 2024 and a loss of almost US$3bn in the last quarter of the ...