Petroleo Brasileiro SA- Petrobras (PBR) has released an update.
Petrobras reported robust financial performance in Q3 2024, with a net profit of $5.9 billion and strong cash generation of $11.3 billion, despite declining Brent prices. The company also increased its investments by 30% to $4.5 billion, focusing on strategic projects like the early start-up of FPSOs Maria Quitéria and Marechal Duque de Caxias. Additionally, Petrobras maintained its financial discipline with the lowest debt level since 2008, enhancing shareholder value through dividend approvals.
For further insights into PBR stock, check out TipRanks’ Stock Analysis page.
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