{"id":289256,"date":"2021-02-26T10:13:49","date_gmt":"2021-02-26T13:13:49","guid":{"rendered":"https:\/\/anba.com.br\/?p=289256"},"modified":"2021-02-26T10:13:49","modified_gmt":"2021-02-26T13:13:49","slug":"petrobras-reported-net-income-of-usd-1-3-bn-in-2020","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/petrobras-reported-net-income-of-usd-1-3-bn-in-2020\/","title":{"rendered":"Petrobras reported net income of USD 1.3 bn in 2020"},"content":{"rendered":"<p>Rio de Janeiro \u2013 Brazilian state-run firm Petrobras reported a fourth-quarter net income of BRL 59.9 billion (USD 11.1 billion) on Wednesday (25), a significant boost from the first nine months of 2020, when the company suffered the impacts of the COVID-19 pandemic. Overall, the company posted a net income of BRL 7.1 billion (USD 1.3 billion) in 2020.<\/p>\n<p>The figure is down 82.3% from 2019\u2019s, when Petrobras saw its better income ever at BRL 40.1 billion (USD 7.4). \u201cWe managed to overcome an extremely challenging situation ushered in by the pandemic and a severe impact on the global oil industry,\u201d Petrobras chief executive Roberto Castello Branco (<em>pictured above<\/em>) told the press.<\/p>\n<p>Last Friday (19), Brazilian President Jair Bolsonaro guaranteed the departure of Castello Branco and appointed General Joaquim Silva e Luna to take the office. Petrobras shares slumped after the announcement. Petrobras did not comment on the drama.<\/p>\n<p>Castello Branco said Petrobras was the only major oil company to reduce itsdebt. \u201cOur free cash flow was the highest of all oil companies. We were also the only major oil firm to reduce the debt.\u201d The total debt declined from USD 87.1 billion in late 2019 to USD 75.5 billion in 2020.<\/p>\n<p>Castello Branco also highlighted the results of the privatization strategy that have been going on since early 2019. The company said the goal is to reallocate resources of low-return assets to high-return assets, as well as reducing debt and risk. There\u2019re currently 50 assets on sale at different stages.<\/p>\n<p><strong>Translated by Guilherme Miranda<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-289253\">Jos\u00e9 Cruz\/Ag\u00eancia Brasil<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite low oil prices, Brazil&#8217;s state-run company managed to recover from nine months of deficit.<\/p>\n","protected":false},"author":2315,"featured_media":289253,"comment_status":"closed","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":[114],"tags":[19369,19366,19370,19371,1964,8430,13548,10156,19368,11961,33722,19367],"class_list":{"0":"post-289256","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-castello-branco-en","9":"tag-castello-branco-oil","10":"tag-castello-branco-petrobras-en","11":"tag-general-petrobras-en","12":"tag-oil","13":"tag-oil-price","14":"tag-petrobras-ar","15":"tag-petrobras-en","16":"tag-petrobras-executive-management","17":"tag-petroleo-ar","18":"tag-preco-petroleo-en","19":"tag-profit-petrobras"},"wps_subtitle":"Despite low oil prices, Brazil's state-run company managed to recover from nine months of deficit.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/289256","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=289256"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/289256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/289253"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=289256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=289256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=289256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}