Petrobras reported a consolidated net income attributable to the shareholders of the company of $5.82bn in Q2 2023. Credit: Arnaldo Jr via Shutterstock.

Petrobras is considering further increasing the average capacity use of refineries in the third quarter of 2023, reported Reuters.

Between April and June, the Brazilian Government-backed oil company increased usage to 93%, the highest since the third quarter of 2015.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In a conference call with analysts, Petrobras executive director of industrial processes and products William France noted that the oil company set new records for diesel production in June and July and will hit targets in August too.

To offer more competitive fuel pricing, the company optimised its refining and logistics infrastructure.

According to Petrobas executive director of logistics, commercialisation and markets Claudio Schlosser, the business is still keeping an eye on the fuel markets and will change rates as needed.

See Also:

In relation to the global economy and the oil supply, he claimed that Petrobras currently perceives “great uncertainty” in the world, which raises price volatility.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Late last week, Petrobras reported a consolidated net income attributable to the shareholders of the company of $5.82bn, (28.3bn reais), a 47.06% drop comapred with the same period a year ago.

The fall was attributed to the depreciation of Brent, the drop in global diesel crack spreads of over 40%, and greater operating costs including impairment charges and tax expenses.

Due to the size of the pre-salt projects and the impact of the signature bonus associated with the Southwest Sagittarius, gua Marinha and North Brava fields, capital expenditure during the review period was $3.2bn, or 5.46% more than year-over-year.