Petrobras Files 6-K Report
Ticker: PBR-A · Form: 6-K · Filed: Aug 23, 2024 · CIK: 1119639
| Field | Detail |
|---|---|
| Company | Petrobras - Petroleo Brasileiro SA (PBR-A) |
| Form Type | 6-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $, $5,239 m, $4,780 million, $2.7 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, foreign-private-issuer, reporting
TL;DR
Petrobras filed its 6-K, keeping investors updated on its foreign private issuer status.
AI Summary
Petróleo Brasileiro S.A. – Petrobras filed a Form 6-K on August 23, 2024, reporting for the period ending June 30, 2024. The filing is a report of a foreign private issuer and does not appear to contain specific financial figures or operational updates within the provided text, but rather serves as a notification of its reporting status.
Why It Matters
This filing indicates Petrobras's ongoing compliance with SEC reporting requirements for foreign private issuers, which is crucial for investors tracking the company's disclosures.
Risk Assessment
Risk Level: low — The filing is a routine procedural document and does not contain new material financial or operational information that would inherently increase risk.
Key Players & Entities
- Petróleo Brasileiro S.A. – Petrobras (company) — Filer of the report
- Brazilian Petroleum Corporation – Petrobras (company) — Former name of the registrant
- August 23, 2024 (date) — Filing date of the report
- June 30, 2024 (date) — Reporting period end date
FAQ
What is the purpose of this Form 6-K filing?
This Form 6-K is a Report of Foreign Private Issuer filed by Petrobras pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934, for the month of August 2024.
What period does this report cover?
The Conformed Period of Report is June 30, 2024.
Is Petrobras required to file annual reports under Form 20-F or 40-F?
Yes, Petrobras indicates it files annual reports under Form 20-F.
What is Petrobras's principal executive office address?
The address of Petrobras's principal executive office is Avenida Henrique Valadares, 28 – 19th floor, 20241-030 – Rio de Janeiro, RJ, Federative Republic of Brazil.
When was Petrobras's name changed from Brazilian Petroleum Corp?
The date of the name change from Brazilian Petroleum Corp was July 17, 2000.
Filing Stats: 4,359 words · 17 min read · ~15 pages · Grade level 10.2 · Accepted 2024-08-23 13:12:22
Key Financial Figures
- $ — in Jan-Jun/2024 (06/30/2024: R$ 5.56/US$, 12/31/2023: R$ 4.84/US$) compared to a
- $5,239 m — penditures in the E&P segment totaled US$5,239 million, representing 81.4% of the CAPEX
- $4,780 million — any, a 9.6% increase when compared to US$4,780 million in Jan-Jun/2023, mainly due to the deve
- $2.7 billion — e pre-salt layer of the Santos Basin (US$2.7 billion); (ii) the development of production in
Filing Documents
- pbr20240823_6k.htm (6-K) — 296KB
- image_001.jpg (GRAPHIC) — 9KB
- 0001292814-24-003213.txt ( ) — 310KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of August, 2024 Commission File Number 1-15106 PETRÓLEO BRASILEIRO S.A. – PETROBRAS (Exact name of registrant as specified in its charter) Brazilian Petroleum Corporation – PETROBRAS (Translation of Registrant's name into English) Avenida Henrique Valadares, 28 – 19th floor 20241-030 – Rio de Janeiro, RJ Federative Republic of Brazil (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes _______ No___X____ Financial Information Jan-Jun/2024 — 1 B3: PETR3 (ON) | PETR4 (PN) NYSE: PBR (ON) | PBRA (PN) www.petrobras.com.br/ir petroinvest@petrobras.com.br + 55 21 3224-1510 Disclaimer This presentation contains some financial indicators that are not recognized by GAAP or the IFRS. The indicators presented herein do not have standardized meanings and may not be comparable to indicators with a similar description used by others. We provide these indicators because we use them as measures of company performance and liquidity; they should not be considered in isolation or as a substitute for other financial metrics that have been disclosed in accordance with IFRS. See definitions of EBITDA, LTM EBITDA, Adjusted EBITDA, LTM Adjusted EBITDA, Adjusted Cash and Cash Equivalents, Net Debt, Gross Debt, Free Cash Flow, and Leverage in the Glossary and their reconciliations in the sections Liquidity and Capital Resources, Reconciliation of LTM Adjusted EBITDA, Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM Adjusted EBITDA Metrics and Consolidated Debt. 2 TABLE OF CONTENTS CONSOLIDATED RESULTS Key Financial Information 4 Sales Revenues 4 Cost of Sales 5 Income (Expenses) 5 Net finance (expense) income 6 Income tax expenses 7 Net Income attributable to shareholders of Petrobras 7 CAPITAL EXPENDITURES (CAPEX) 8 LIQUIDITY AND CAPITAL RESOURCES 9 CONSOLIDATED DEBT 10 RECONCILIATION OF EBITDA, ADJUSTED EBITDA, LTM EBITDA, LTM ADJUSTED EBITDA, GROSS DEBT/ LTM ADJUSTED EBITDA AND NET DEBT/LTM ADJUSTED EBITDA METRICS EBITDA, Adjusted EBITDA and Net cash provided by operating activities – OCF 11 LTM EBITDA, LTM Adjusted EBITDA 12 Adjusted Cash and Cash Equivalents, Gross Debt, Net Debt, Net Cash provided by Operating Activities (LTM OCF), LTM Adjusted EBITDA, Gross Debt Net of Cash and Cash Equivalents/LTM OCF, Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM Adjusted EBITDA Metrics 13 RESULTS BY OPERATING BUSINESS SEGMENTS Exploration and Production (E&P) 14 Refining, Transportation and Marketing 15 Gas and Low Carbon Energies 16 GLOSSARY 17 3 CONSOLIDATED RESULTS The main functional currency of the Petrobras Group (the “Company”) is the Brazilian real, which is the functional currency of the parent company and its Brazilian subsidiaries. As the presentation currency of the Petrobras Group is the U.S. dollar, the results of operations in Brazilian reais are translated into U.S. dollars using the average exchange rates prevailing during the period (average exchange rate of R$/US$ 5.08 in Jan-Jun/2024 compared to R$/US$ 5.07 in Jan-Jun/2023). Key Financial Information US$ million Jan-Jun/2024 Jan-Jun/2023 Change (%) Sales revenues 47,235 49,750 (5.1) Cost of Sales (23,251) (24,000) (3.1) Gross profit 23,984 25,750 (6.9) Income (expenses) (8,295) (5,719) 45.0 Consolidated net income attributable to the shareholders of Petrobras 4,438 13,169 (66.3) Net cash provided by operating activities 18,473 19,989 (7.6) Adjusted EBITDA 21,754 25,392 (14.3) Average Brent crude (US$/bbl) * 84.09 79.83 5.3 Average Domestic basic oil products price (US$/bbl) 93.70 102.62 (8.7) * Source: Refinitiv. US$ million 06.30.2024 12.31.2023 Change (%) Gross Debt 59,630 62,600 (4.7) Net Debt 46,160 44,698 3.3 Gross Debt/LTM Adjusted EBITDA ratio 1.22 1.19 2.5 Net Debt/LTM Adjusted EBITDA ratio 0.95 0.85 11.8 Sales Revenues US$ million Jan-Jun/2024 Jan-Jun/2023 Change (%) Diesel 14,055 15,387 (8.7) Gasoline 6,278 7,469 (15.9) Liquefied petroleum gas (LPG) 1,551 1,880 (17.5) Jet fuel 2,331 2,508 (7.1) Naphtha 910 908 0.2 Fuel oil (including bunker fuel) 577 547 5.5 Other oil products 2,092 2,212 (5.4) Subtotal Oil Products 27,794 30,911 (10.1) Natural gas 2,458 2,955 (16.8) Crude oil 2,278 2,715 (