Petróleo Brasileiro S.A. - Petrobras (PBR) Q4 2022 Earnings Call Transcript

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Q4 2022 Earnings Conference Call March 2, 2023 10:00 AM ET

Company Participants

Carla Albano - Investor Relations

Jean Paul Prates - Chief Executive Officer

Rodrigo Araujo - Chief Financial & Investor Relations Officer

Joao Henrique Rittershaussen - Chief Production Development Officer

Conference Call Participants

Carla Albano

Good afternoon, everyone. Welcome to Petrobras Webcast with Analysts and Investors about the Fourth Quarter 2022 Results. It's great to have you join us today. We'd like to inform you that all participants will follow the transmission by Internet as listeners. After an introduction, a Q&A session will begin. You can send us questions by e-mail at petroinvest@petrobras.com.br.

Today, we have with us Jean Paul Prates, CEO; Claudio Mastella, Chief Trading and Logistics Officer; Fernando Borges, Chief Exploration and Production Officer; Joao Henrique Rittershaussen, Chief Production Development Officer; Paulo Palaia, Chief Digital Trading and Innovation Officer; Rafael Chaves, Chief Institutional Relations and Sustainability Officer; Rodrigo Araujo, Chief Financial and Investor Relations Officer; Rodrigo Costa, Chief Refining and Natural Gas Officer; and Salvador Dahan, Chief Governance and Compliance Officer.

To initiate, I'll pass the floor to Petrobras CEO, Jean Paul Prates. Please Jean, go ahead.

Jean Paul Prates

Hello to all of you. It is an honor to speak to you as a CEO of Petrobras at a time when we are disclosing such an expressive and symbolic results for the company. At the same time, we met all our production targets. We advanced in the prospecting of new reserves and in the decarbonization of our operations. We maintain our competitiveness, raising the utilization factor of our refineries, while launching new products with renewable content. All these achievements are extremely important in the complex scenario we live today.

As global consumption of foster fuel hits record highs, we must prepare ourselves for the inevitable energy transition. While no one can say precisely how long the traditional oil and gas industry will be dominant, it is indisputable that this moment is getting closer and closer. We will maintain our leading role in oil and gas production, while working to build a new future. Our main goal in the new management that starts now is to make Petrobras an increasingly balanced company, strong and prepared to be the protagonist of the energy transition, drawing on its unique knowledge of Brazil's potential for this growing market.