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Petrobras corporate report

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Report summary

Petrobras is undergoing profound change as it reacts to the fallout from Lava Jato and lower oil prices. Capital spending has been slashed the dividend suspended and a major divestment programme has begun. Debt remains a problem however. Deleveraging is the priority but achieving this will be difficult with the company's debt set to continue deteriorating in the medium term.

What's included

This report contains

  • Document

    Petrobras corporate report

    PDF 2.01 MB

  • Document

    Petrobras corporate report

    ZIP 2.74 MB

  • Document

    Petrobras Corporate Report.xls

    XLS 3.34 MB

Table of contents

  • Other Petrobras research
  • Executive summary
  • Strategy
  • Financial health
  • Investment
  • Resources, reserves and production
  • Key success factors
  • Economic assumptions

Tables and charts

This report includes 41 images and tables including:

Images

  • Net debt outlook
  • Corporate cash flow outlook
  • Cash flow breakevens
  • Benchmark: cash flow breakevens (2016 to 2018)
  • Development investment (2016 to 2020)
  • Top pre-FID projects by projected capex (to 2030)
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)
  • Benchmark: share price performance
  • Benchmark: market premium / discount to WM upstream NPV,10
  • Strategic fit of upstream assets and regions
  • Benchmark: NPV,10 by resource theme
  • Benchmark: 2016 production
  • Strategy: Image 6
  • Benchmark: capital investment (2016 to 2020)
  • Benchmark: production CAGR
  • Benchmark: WM production outlook
  • Reserves and resource detail
  • Benchmark: reserves and resources detail
  • Benchmark: reserves and resource life
  • Production outlook
  • Domestic upstream cash flow by growth / legacy
  • Domestic upstream capex outlook by growth / legacy
  • Domestic oil production outlook by local content
  • Pre-FID Brent breakeven (15% discount rate)
  • Benchmark: pre-FID project returns
  • Upstream development spend intensity
  • Downstream cash flow outlook
  • Domestic supply and demand outlook
  • Benchmark: value creation
  • Brazil's exploration potential by basin

Tables

  • SWOT analysis
  • Top legacy assets by value
  • Base price assumptions (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Value assumptions
  • Foreign exchange rate assumptions
  • Key success factors: Table 2
  • Upstream asset sale options
  • Strategy: Table 2

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