Petroleo Brasileiro SA Petrobras (Petrobras) reported its financial performance for the second quarter of 2024, highlighting a net profit of US$ 5.4 billion and an EBITDA of US$ 12 billion, excluding non-recurring items and exchange rate effects. The company's robust cash generation allowed for US$ 3 billion in investments, adherence to shareholder remuneration policy, and dividend payments. Despite a reported consolidated net loss of R$ 2.6 billion for shareholders of Petrobras, this was primarily due to non-recurring items such as adherence to the tax transaction and the 2023 labor agreement. The company's gross debt decreased by 3.6% to US$ 59.6 billion, while net debt increased by 5.8% to US$ 46.2 billion compared to the previous quarter. The net debt/LTM Adjusted EBITDA ratio was 0.95. Capex for the first half of 2024 was US$ 6.4 billion, up 12.5% from the first half of 2023. The company also highlighted the approval of the resumption of operations at Araucária Nitrogenados S.A. (ANSA), which allowed the reversal of impairment losses, and a greater contribution to society with tax payments 24% higher than in 2Q23.

Petroleo Brasileiro SA Petrobras (Petrobras) reported its financial performance for the second quarter of 2024, highlighting a net profit of US$ 5.4 billion and an EBITDA of US$ 12 billion, excluding non-recurring items and exchange rate effects. The company's robust cash generation allowed for US$ 3 billion in investments, adherence to shareholder remuneration policy, and dividend payments. Despite a reported consolidated net loss of R$ 2.6 billion for shareholders of Petrobras, this was primarily due to non-recurring items such as adherence to the tax transaction and the 2023 labor agreement. The company's gross debt decreased by 3.6% to US$ 59.6 billion, while net debt increased by 5.8% to US$ 46.2 billion compared to the previous quarter. The net debt/LTM Adjusted EBITDA ratio was 0.95. Capex for the first half of 2024 was US$ 6.4 billion, up 12.5% from the first half of 2023. The company also highlighted the approval of the resumption of operations at Araucária Nitrogenados S.A. (ANSA), which allowed the reversal of impairment losses, and a greater contribution to society with tax payments 24% higher than in 2Q23.