Petrobras has suffered more than R $400 million

Petrobras registered losses of R $446 million in 2017. Despite the negative result, this was the lowest loss of the last four years, reported today (15) the company.

The damage occurred due to extraordinary expenses. If it were not, Petrobras would have reached a net profit of R $7.089 billion. Among the extraordinary expenses, Petrobras highlights the R $11.198 billion agreement to close the collective action of investors in the United States, as well as adherence to federal debt settlement programs, which amounted to r $10.433 billion.

In 2017, the company's net debt reached US $84.871 billion, lower value since 2012. It was also possible to increase the average maturity period from 7.46 to 8.61 years and reduce the average interest rate from 6.2% to 5.9%. In addition, the company's annual interest expense dropped from R $25.6 billion in 2016 to R $22.3 billion last year.

According to Petrobras, the company crashed for the fourth year following the record of production in Brazil and achieved, for the third consecutive year, the goal. The total production volume of oil and natural gas was 2,767,000 of barrels of oil equivalent per day (boe), being 2,655,000 BoE in Brazil, even with the sale of assets abroad.

The sale of derivatives in the country declined by 6% compared to 2016. The production was 1.8 million barrels per day (bpd) and the sale reached 1,940,000 bpd due to increased imports by third parties. Source: Brazil Agency

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