Petrobras reports net profit of BRL 54.3 billion

Petrobras reached a net profit of BRL 54.3 billion in the second quarter of this year. The result was announced this Thursday (Jul. 28) and reflects the company’s operating performance and the increase in the oil market price.

Petrobras pointed out that the activities have generated significant financial returns for society, through dividends, and the payment of taxes. In the first half of 2022 alone, Petrobras paid BRL 179 billion to the public coffers – BRL 147 billion in taxes and government participation, and around BRL 32 billion in dividends.

CFO and investor relations director Rodrigo Araujo Alves stressed that the results show the company’s resilience and solidity. He added that “in line with our commitment to distribute our results, we have approved shareholder remuneration of BRL 6.73 per common and preferred share”. With the approval of a new installment of dividends announced this Thursday, the value of the remuneration of the majority shareholder – the Federal Government – totals BRL 64.1 billion this year.

“The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that, in the event of a gross indebtedness of less than $ 65 billion dollars, Petrobras will be able to distribute to its shareholders 60 percent of the difference between operating cash flow and acquisitions of fixed and intangible assets (investments). In addition, the policy also provides for the possibility of paying extraordinary dividends, as long as the company’s financial sustainability is preserved,” the state-owned company declared.