Petroleo Brasileiro ( (PBR) ) has released its Q4 earnings. Here is a breakdown of the information Petroleo Brasileiro presented to its investors.
Petrobras, officially known as Petroleo Brasileiro, is a leading Brazilian multinational corporation in the oil and gas industry, primarily engaged in the exploration, production, refining, and marketing of oil and gas products. Known for its significant operations in the pre-salt oil fields, Petrobras is a key player in the global energy sector.
In its latest earnings report for the fourth quarter of 2024, Petrobras announced that it met all production targets set in its 2024-2028 Strategic Plan. The company reported a total oil and natural gas production of 2.7 million barrels of oil equivalent per day, with notable achievements in pre-salt production, setting new records for both total own and operated production.
Key highlights from the report include the early start-up of the FPSO Maria Quitéria and the FPSO Marechal Duque de Caxias, both contributing significantly to the company’s production capabilities. Petrobras also achieved a record utilization factor in its refining system and increased the share of pre-salt oil in its feedstock. The company expanded its sustainable product offerings, including Diesel R and Podium Carbon Neutral Gasoline, aligning with its commitment to a just energy transition.
Looking ahead, Petrobras management remains optimistic about the company’s growth prospects, with plans to continue expanding its operations in the pre-salt fields and enhancing its refining capabilities. The company is also focused on increasing its supply reliability and reducing greenhouse gas emissions, reinforcing its position as a leader in the energy transition.