Brazil's Petrobras CEO Says Need To Continue Exploring Pelotas Basin; Recognizes Demands From Investors For Dividends; CFO Says FPSO Vessel Almirante Tamandare Slated To Start Production In 2025; Tax Deal With Govt Was Good For Petrobras; Capital Reserve Was Used For What It Was Meant For, To Pay Dividends; If We Did Not Have A Reserve, We Would Face Difficulties In Issuing Dividends
Portfolio Pulse from Benzinga Newsdesk
Petrobras' CEO emphasized the need to continue exploring the Pelotas Basin and acknowledged investor demands for dividends. The CFO announced that the FPSO vessel Almirante Tamandare is set to start production in 2025. A tax deal with the government was beneficial for Petrobras, and the capital reserve was used to pay dividends, which would have been difficult without the reserve.
August 09, 2024 | 3:28 pm
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Petrobras' CEO emphasized the need to continue exploring the Pelotas Basin and acknowledged investor demands for dividends. The CFO announced that the FPSO vessel Almirante Tamandare is set to start production in 2025. A tax deal with the government was beneficial for Petrobras, and the capital reserve was used to pay dividends, which would have been difficult without the reserve.
The news highlights several positive developments for Petrobras, including continued exploration efforts, meeting investor demands for dividends, and a beneficial tax deal. The announcement of the FPSO vessel starting production in 2025 also indicates future revenue growth.
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