Summary by Moomoo AI
Petrobras reported a Q2 2024 net loss of $325 million, compared to a $5.86 billion profit in Q2 2023, primarily impacted by a $2.1 billion tax settlement charge and healthcare benefit cost adjustments. Sales revenue reached $23.5 billion in Q2 2024, up 2.1% YoY.The company enrolled in a tax settlement program in June 2024 to resolve disputes over remittances abroad from 2008-2013, receiving a 65% discount on the $8.1 billion original amount. Additionally, Petrobras modified its healthcare plan cost-sharing ratio from 60/40 to 70/30 between company and beneficiaries, resulting in a $1.3 billion expense.The Board approved shareholder remuneration of $2.42 billion for Q2 2024, including $1.28 billion in dividends and interest on capital, plus $1.14 billion from profit retention reserves. The company maintained strong operational performance with average production of 2.87 million barrels of oil equivalent per day in Q2 2024.
