May 17, 2022

The Catholic Transcript

Complete News World

Petrobras justifies the company's profits

Petrobras justifies the company’s profits

After the adjustments promoted this week in the prices of petrol, diesel and cooking gasa Petrobras She posted, Saturday (12), two videos on her website justifying the increases. According to the state-owned company, the latest adjustment was necessary to maintain supplies for all businesses, and mitigate the risk of shortages.

The company says it did not immediately retract the recent rise in oil prices because it “does not convey volatility and recognizes the importance of contributing to affordable fuel”.

In the post, the company claims that its record earnings in 2021 may seem high, but in fact it is not. According to the company, the profit is proportional to the size of the investment. The state-owned company closed last year with a Unprecedented profits amounted to 106.7 billion Brazilian riyals.

“You can imagine how much investment is required to produce the fuel that gets to you. It’s a billionaire’s investment,” he says.

According to Petrobras, the annual rate of return used to operate the company in 2021 was 8%, leaving, according to the state-owned company, “only 2% above the cost of its debt, which is a fair return.”

The publication says that the company is one of the most invested in Brazil and that more than half of its money is given back to society through taxes, government participation and state dividends.

See also  Watch Brazilian stocks fall and rise further in New York - Money Times

In 2021, the state-owned company reported that it paid R$23 million in hourly taxes and honors, and that it created about 10,000 jobs for every R$1 billion of investment in exploration and production.

“We invest more than R$70 billion annually, benefiting more than 4 million people through the purchase of cooking gas for vulnerable families.”

Finally, the company states that “here there is no monopoly and other companies, as well as Petrobras, also produce and import fuelAccording to the company, market prices guarantee the operation and supply of the country, which is promoted by several companies.