Petroleo Brasileiro SA Petrobras ADR

PBR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$78.90	Zjm	Vdygtnx

Petrobras Benefits From Higher Oil Prices in Q1 as Downstream Improves as Well

Allen Good

May 9, 2022

Petrobras reported adjusted reoccurring EBITDA of BRL 78.2 billion compared with BRL 47.7 billion a year before. Higher oil prices were the primary factor lifting exploration and production adjusted EBITDA to BRL 73.0 billion from BRL 44.2 billion a year ago. Total production volumes rose to 2,796 thousand barrels of oil equivalent per day from 2,765 mboe/d a year earlier, as low-cost presalt volumes reached 72% of total volumes.

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