Page 15 - LatAmOil Week 31 2022

LatAmOil NEWS IN BRIEF LatAmOil

The financial institutions, led by Morgan Stan-
ley Senior Funding Inc. are: Banco do Brasil SA;
Citibank N/A; Deutsche Bank AG; HSBC Méx-
ico, SA; Itau BBA International plc; and Banco
Santander (Brasil) SA. The Financing shall
mature within 54 to 60 months from the date
hereof and provide for an interest rate, starting
on the disbursement date, corresponding to the
reference rate SOFR plus 6.25% per annum, the
latter may vary in accordance with certain con-
ditions set forth in the Credit Agreement. The
proceeds from the Financing shall be mainly
directed to the consummation of the acquisition
of the Potiguar Cluster, an upstream (oil and gas
producing fields) and mid & downstream (pri-
vate use terminal, refinery, and storage) assets, 2022-26 the investment projects requested by the the current fiscal year for purposes of calculating
located in the Potiguar Basin, in the state do Rio business areas were met because they presented the deduction.
Grande do Norte and currently owned and oper- good resilience and are supported by operating Petrobras, July 28 2022
ated by Petróleo Brasileiro SA – Petrobras. cash generation and the flow of divestments,
Additionally, it is worth noting that: (i) until with no adverse effects on leverage. Therefore,
the consummation of the acquisition of the there are no investments held back by financial PERFORMANCE
Potiguar Cluster, the Company will pay a tick- or budgetary constraints and the decision to use
ing fee lower than the interest rate to be charged the surplus resources to remunerate sharehold- Petrobras maintains
after the Financing has been disbursed; and (ii) ers presents itself as the most efficient one for
the disbursement of the Financing is subject to optimizing the allocation of cash. history of solidity, financial
compliance with usual conditions precedent for The dividends will be paid in two equal
similar operations in the market and set forth in installments in August and September, as sustainability with
the Loan Agreement. follows:
Finally, 3R reinforces its commitment to Amount to be paid: BRL6.732003 per com- distribution of profits
keep its shareholders, investors, and the market mon and preferred share outstanding, whereby:
in general duly informed, in line with the best (i) the first installment, in the amount of Strong cash generation, reflecting the company’s
corporate governance practices and in strict BRL3.366002 per outstanding preferred and operating performance and the increase in the
compliance with current legislation. common share, will be paid on August 31, 2022. oil market price, allowed the company to expand
3R Petroleum Óleo e Gás, August 2 2022 (ii) the second installment, in the amount the distribution of generated profits and the pay-
of BRL3.366001 per outstanding preferred and ment of taxes and government participation,
Petrobras comments common share, will be paid on September 20, which benefit society as a whole.
Petrobras once again achieved solid quarterly
2022.
on remuneration to of Petrobras shares traded on B3 and August According to Chief Financial and Investor
Record date: August 11, 2022, for holders results.
shareholders 15, 2022 for ADR holders traded on New York Relations Officer Rodrigo Araujo Alves, “The
Stock Exchange (NYSE). Petrobras shares will results of the second quarter of 2022 show the
Petrobras informs that its Board of Directors, be traded ex-dividends on B3 and NYSE as of resilience and solidity of the company, which is
at a meeting held today, approved the payment August 12, 2022. capable of generating sustainable results, con-
of dividends in the amount of BRL6.732003 per Payment date: For holders of Petrobras tinuing its history of value creation. In line with
outstanding preferred and common share. shares traded on B3, first payment will be made our commitment to distribute our profits, we
The proposed dividend is in line with the on August 31, 2022, and second payment will approved shareholder compensation of BRL6.73
Shareholder Remuneration Policy, which pro- be made on September 20, 2022. ADR holders per common and preferred share. Additionally,
vides that in case of gross debt below $65bn, will receive payments starting on September 08, we paid a total BRL77.3bn in taxes and govern-
Petrobras may distribute to its shareholders 60% 2022, and September 27, 2022, respectively. ment participation in the second quarter. Over
of the difference between operating cash flow Form of distribution: The first installment of the year, the figure totaled BRL147bn, a 92%
and acquisitions of fixed and intangible assets payment will be made as follows: (a) dividends, increase compared to the first half of last year”.
(investments). In addition, the Policy also fore- of BRL2.938861 per outstanding preferred and Net income in the quarter was $11bn, mainly
sees the possibility of paying extraordinary divi- common share; and (b) interest on equity of reflecting the appreciation of the Brent Crude
dends, provided that the financial sustainability BRL0.427141 per outstanding preferred and Oil price in the period. Additionally, the result
of the Company is preserved. common share. The second installment will be was positively impacted by the capital gain of
The approval of the proposed dividend is paid in full as dividends. $5.2bn related to the co-participation agree-
compatible with the company’s financial sus- It is important to point out that these pro- ment in Sépia and Atapu. Excluding special
tainability and is aligned with the commitment ceeds will be deducted from the dividends to items, recurring net income in the quarter was
of value generation for the society and for the be approved at the 2023 Annual Shareholders’ $9.1bn. These factors also explain the growth
shareholders, as well as with the best practices in Meeting for the year 2022, and their amounts in recurring EBITDA to $20.2bn (+34% vs
the oil and gas industry. will be adjusted by the Selic rate from the date Q1-2022) and free cash flow to $12.8bn (+61%
It is worth noting that in the Strategic Plan of payment of each installment until the end of vs Q1-2022).

Week 31 03•August•2022 www. NEWSBASE .com P15