Petroleo Brasileiro SA- Petrobras (PBR) has released an update.
Petrobras reported a decrease in sales revenues of 5.1% to $47.235 billion for Jan-Jun/2024 compared to the same period in 2023, largely due to a drop in domestic oil product revenues and lower domestic market crude oil revenues. This was partially offset by a rise in exported crude oil revenues, driven by higher sales volumes and increased average prices. Key financial indicators also noted were a slight reduction in gross debt and a rise in the net debt to LTM Adjusted EBITDA ratio.
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