{"id":253671,"date":"2019-08-02T15:18:37","date_gmt":"2019-08-02T18:18:37","guid":{"rendered":"https:\/\/anba.com.br\/?p=253671"},"modified":"2019-08-02T15:47:49","modified_gmt":"2019-08-02T18:47:49","slug":"petrobras-q2-net-profit-a-record","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/petrobras-q2-net-profit-a-record\/","title":{"rendered":"Petrobras Q2 net profit a record"},"content":{"rendered":"<p>Rio de Janeiro \u2013 Petrobras reported a net profit of BRL 18.9 billion in Q2 2019, an all-time high. It said the result is up 368% year-on-year from BRL 4 billion in Q1 2019, and up 87% from BRL 10.1 billion in Q2 2018.<\/p>\n<p>The result was mainly driven by the conclusion of the sale of Petrobras\u2019 stake in Transportadora Associada de G\u00e1s S.A. (TAG), in a BRL 33.5 billion deal. BRL 2 billion were used in settling the gas transportation company\u2019s debt with the Brazilian Development Bank (BNDES).<\/p>\n<p>The record profit also stemmed from an international oil price hike and the appreciation of the US dollar relative to the real.<\/p>\n<p>Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was BRL 32.7 billion in Q2, up 19% from Q1 2019. The result was buoyed by higher oil prices, stronger diesel sales and higher margins for gasoline, naphtha and natural gas.<\/p>\n<p><strong>Net debt<\/strong><\/p>\n<p>Free cash flow was positive for the 17<sup>th<\/sup> straight quarter, at BRL 11.3 billion. Net debt kept going down, this time by 12% in Q2 from Q1, to USD 83.7 billion.<\/p>\n<p>Investment amounted to USD 2.6 billion, 82% of which came from exploration and production. \u201cWe had good financial results in quarter two, mostly from the sale of TAG, with net profit reaching an all-time high at BRL 19 billion. We will stay on our value-oriented path of focusing on higher-return assets, like the pre-salt, and our relentless quest to cut costs,\u201d Petrobras CEO Roberto Castello Branco was quoted as saying.<\/p>\n<p>According to Petrobras, oil and natural gas production reached 2.63 million barrels of oil equivalent per day in Q2, up 3.8% from Q1. Pre-salt production climbed 12.7% to 1.17 million boed.<\/p>\n<p><strong>Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-253664\">Fernando Fraz\u00e3o\/Ag\u00eancia Brasil<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Net profit soared to an all-time high for Brazil\u2019s state-run oil company, at BRL 18.9 billion.<\/p>\n","protected":false},"author":2315,"featured_media":253664,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[2365,1964,10156,10387,10380],"class_list":{"0":"post-253671","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-net-profit","9":"tag-oil","10":"tag-petrobras-en","11":"tag-profit","12":"tag-segundo-trimestre"},"wps_subtitle":"Net profit soared to an all-time high for Brazil\u2019s state-run oil company, at BRL 18.9 billion.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/253671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=253671"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/253671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/253664"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=253671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=253671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=253671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}