Petrobras CEO Prates on Oil Production, New Energy

The transcript discusses Petrobras's approach to energy transition, balancing oil production with decarbonization efforts, and the need for strategic investment. It highlights the importance of maintaining profitability while exploring new energy sources like wind power. The company aims to manage assets wisely, avoiding excessive divestment, and seeks to convince shareholders of the benefits of reinvestment. Petrobras is focused on evolving its operations to include more sustainable practices while maintaining its core oil and gas activities.

What is the primary focus of Petrobras in its energy transition strategy?

• Reducing oil production

• Selling off all assets

• Exploring new frontiers in Brazil

• Increasing shareholder dividends

How does Petrobras view the relationship between energy transition and oil production?

• They can complement each other

• They are mutually exclusive

• Oil production should be stopped immediately

• Energy transition is not a priority

What is Petrobras' approach to handling profits in exceptional years?

• Reinvest all profits into new projects

• Distribute all profits as dividends

• Balance between reinvestment and dividends

• Ignore shareholder interests

What was the critique of the previous divestment strategy at Petrobras?

• It was too conservative

• It ignored the Brazilian market

• It focused too much on renewable energy

• It was irrational and short-sighted

What new energy source is Petrobras considering due to its offshore operations?

• Solar power

• Wind power

• Hydroelectric power

• Nuclear power

What percentage of co-processed diesel does Petrobras aim to achieve in its refineries?

• 5%

• 10%

• 15%

• 20%

What is a key component of Petrobras' strategy to remain a player in the industry?

• Selling all assets

• Investing in energy transition and repositioning reserves

• Focusing solely on oil production

• Reducing workforce