Petrobras reported this Thursday a net profit of BRL 31.1 billion in the third quarter of 2021, which represents a significant recovery compared to the loss of BRL 1.5 billion registered in the same period in 2020.
This was the fourth positive quarter for the company, after losses recorded in the first three quarters of 2020 due to the pandemic. The result for the third quarter was mainly driven by the increase in the international price of crude oil and fuel sales in the country, with emphasis on gasoline, diesel and aviation kerosene, informed the company.
“We reached our indebtedness target much earlier than planned and we are sharing part of the wealth generated with society and our shareholders, through taxes, dividends, job creation and investments”, said the president of Petrobras, Joaquim Silva e Luna.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 60.7 billion in the third quarter. The company benefited from the increase in the price of a barrel of Brent, which traded at an average of $73.47 in the third quarter, 70.9% more expensive than in the same period last year.
The positive results come amid new criticisms by President Jair Bolsonaro of Petrobras’ pricing policy, linked to the international market.
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