Fabrib
Forumer storico
Petrobras reports a Q3 loss as sales of diesel fuel, aviation fuel and gasoline fell from a year ago.
azilian state-run oil company posted a loss of 1.54B reais ($275M), but Q3 EBITDA surpassed forecasts in rising 2.6% Y/Y to 33.4B reais.
Excluding one-off charges, including the payment of 1.9B reais to two state governments to settle outstanding tax disputes, Petrobras says it would have posted net operating income of 3.2B reais, 68% less than the year-ago quarter but routing the Refinitiv estimate of 736M reais.
Q3 net revenue totaled 70.7B reais, down 8% Y/Y but up 39% Q/Q, helped by higher sales of diesel and gasoline, which were heavily affected by COVID-19 in Q2.
Petrobras says Q3 median production costs fell to $4.50/boe from $7.90/boe in Q2, citing efficiency gains and the depreciation of the Brazilian real.
The company said last week it pumped an average of 2.95M boe/day in Q3, a 5.4% Q/Q increase, as it improved efficiency and ramped up output from new platforms, and it estimated full-year production of 2.84M boe/day.
azilian state-run oil company posted a loss of 1.54B reais ($275M), but Q3 EBITDA surpassed forecasts in rising 2.6% Y/Y to 33.4B reais.
Excluding one-off charges, including the payment of 1.9B reais to two state governments to settle outstanding tax disputes, Petrobras says it would have posted net operating income of 3.2B reais, 68% less than the year-ago quarter but routing the Refinitiv estimate of 736M reais.
Q3 net revenue totaled 70.7B reais, down 8% Y/Y but up 39% Q/Q, helped by higher sales of diesel and gasoline, which were heavily affected by COVID-19 in Q2.
Petrobras says Q3 median production costs fell to $4.50/boe from $7.90/boe in Q2, citing efficiency gains and the depreciation of the Brazilian real.
The company said last week it pumped an average of 2.95M boe/day in Q3, a 5.4% Q/Q increase, as it improved efficiency and ramped up output from new platforms, and it estimated full-year production of 2.84M boe/day.