us results Thank present oil We're with relevant the future potential with today picture We us financial you can earnings the glad afternoon, company's expected of first relevant first the quite Thank the new of you, the for and bring on and everyone. 'XX. solid installed. Guanabara for next system the ahead, very being for please. start for call. prospects our we're come Jose-Mauro. and happy from installed slide, the have to watching in will this that with field, quarter and April operational XX, results our Carla. you, system We to with today Thank you Good go FPSO of first Mero production to
disclaimer our have usual prospects. we So, about future
quite a relevant for value and is safety, it's always safety a starting with you that So, already Petrobras know priority.
medium the ambitions XXXX. we security our safety on two fatalities per we're of happy reducing needs injuries even highly are why see and in priority, very having we have first We we be on focused zero below limit focused -- a our quite and man the doing improving quarter of acceptable to but continue our had safety fatalities, to unfortunately, to our be remind though and that hours, results And be that to over engaged that. us, total recordable the need we're unfortunately, metrics on time,
Next slide, please.
Talking about please. our agenda. Next ESG
report is, as well. GRI, south market, the of EPI the have disclosed our We the indicators and the And indicators recently top-tier report mid-April. for the sustainability presenting our on focused course, indicators
about relevant Petrobras of making focused environment, most upstream market and you efficiency positioning on so the environment industry So, our footprint disclosing improve the low-carbon already contributions and responsibility, and sustainability in having of metrics social in downstream is mostly for a emissions environment, know emissions, in reduce our portfolio. When the X low-carbon overall. as to investments major Scope the energy comprehensive having thoughtful investments the a on to our strategy the that in and society or report disclosing to operator in and to portfolio, the of offshore focused ourselves only low-cost the we either the contribution talk world. we Petrobras X, reducing our present relevant terms a We're focused does also on of and but not we're terms very
Brazil relevant have clean portion structure in that power-based electricity also of contributes matrix Brazil. and a natural offering represents the very to that thermal We is sustaining a energy and in gas country's relevant plants a
renewables, mostly content high very hydro. of have We
also So, investing our thermal role of plants maintaining of have less exploring a system. in possibilities new stability the and carbon-intensive business overall very important We're products. in the
We our lower and products have carbon the footprint. have a reducing of that very of terms sulfur a in strong of developing presence products level
on carbon forest are solutions, about focused also we presence biojetfuel, potential we to bio from also footprint conservation going a products. a own And and following. solutions forest low that several and we're reforestation We to our talk promoting have lower in terms show R&D strong future related of -- bunker, carbon
please. slide, Next
of has Petrobras presence terms So, conservation. strong in reforestation forest and a
institutes thank so than of and focused the partnerships universities, All in you, several acres Development in called program five partnership Forest. or of management of on million more contribution the focused that in Viva XX the is XX of a more than BNDES, with with Brazilian companies the I highly a right, Floresta next fund BRLXXX involves Bank back, Living forest, on around several research please. years, for has match in acres We a we're territory Development agencies Brazil, relevant project There may environmental improving million Petrobras million have Brazil project the It's that Bank. the of Brazilian with National alongside go X% forest Brazilian relevant quite sorry between territory. a --
Next, please.
emissions. In continue be our of terms targets of emissions, on we focused to delivering lower
our first upstream below in have we COX or We quarter, are achieved downstream highlight oil of And and fields. the target equivalent of course, business. per acceptable that from of limit the both levels result the barrel the emissions in the
represents We does level of COX the the per a kilos have of barrel barrels X.X equivalent than oil have X less billion with industry's of that industry average.
the were improved our carbon intensity refining below energy -- We have our in our targets. efficiency assets in and the also
targets, achieved Of have course, have favorable continually we're as focused results. those we improving on and what shown
lower five-year We of on in goals the on achieving also to our also to emissions terms XXXX. achieve focused be by emissions continue reducing and timeframe
reducing of And we're targets. and We focused our the have to portfolio emissions in long-term ambitious terms delivering deliver highly technology emissions. as having tool main very targets on management
Next, please.
total of had came plant reservoirs, higher levels in of In terms quarter. Brazil, emissions given of the low -- the our in the of emissions first operational it thermal absolute given the already emissions, the has but quarter increased, XXXX, have fourth power scenario in down generation we our emissions,
of course, strongly the we as well. gas and continue emissions, of lower So we operational continue and trajectory oil total delivering reducing emissions operational
those those areas XX% relevant by long reduce on committed strongly operational targets. continue be to We we to also the delivering run, have in targets on and emissions our
Next, please.
portfolio U.S. So with we our target we of and solutions very is largest CCUS, technology utilization we mentioned storage good units. is and a developing XX And I And and HISEP, The focused tons accumulated COX. have technological that finding of re-injection million continue high-technology that and the seabed tons. COX industry's kind a that The offshore finding program that our of in future carbon capture new for program. -- XX.X of capture million re-injecting continue strong capturing provide very in strong prospects support program. will on, solution we're terms
please. Next,
and operate have where in for our in situations Brazil. provided areas we several environmental terms XXXX donations, In of only not investments, in for Brazil, XXXX disaster that several we and impacts social also but relevant in happened COVID-XX's
operate. on We focused science developing and regions environment and projects have small new the we culture, a relationship social developing in very and sports, businesses that technology strong
focused the programs highlight have on projects operate LPG started in Brazil operations. the in other back donation the also of well natural where We areas of our XXXX. mitigate socioeconomic that program in environment impacts as I we and we areas to also our
We end expect to LPG of until million the BRLXXX donate XXXX. of
and We operate, in company be have a already the areas focused those we corporate of is we part continue that highly on to delivering relevant social donations started responsibility. that a
Next, please.
government CEO contribution is before, shareholder. Brazilian our of has having to And in of our quite to society. society deliver we the take for a is our that continue Brazilian shareholders. and to society and we're mentioned strategy, very As And, the value cash focused more to the individual flow generating create and so our Almost solid XX% our operational of value able returns Brazilian course, terms tax that substantial. largest be on payments
And value. of terms quite delivering more creating in so responsive we're and
please. Next,
agenda In improvement continue continuous -- governance, the terms for we corporate of governance. company's our
a and the the recovery have our we with of and As governance. terms also revamping alongside streamlining improving you reputational company's over agenda financial image very and know, in trajectory, solid company's time
a have governance. solid We very
continue over on of achievements we and we to to institutions -- institutions and opportunities been be international of in company's to corporate do focused terms quality recognized our relevant several finding main from domestic new of future. that's, course, for And the made several have of the by to We and improve governance. different expect we one our the And values so. continue governance, time, have
please. Next,
area, the rest we we the had terms we by from financial our in first expect to continue prospects oil milestones, operational FPSO in in of pre-salt over we Guanabara the the and Marlim Also, pre-salt I that good up Central. to coming several a the Alto Cabo start of of fuel and expect the that very In development XXXX field. had ramp do from highlights XXXX, relevant the relevant oil Frio of and quarter discovery started Santos of the of of matter the for first basin,
the license field, days. the the Marlim and improvements and be upcoming efficiency of making continue over time focused had and wells we of have that that of on finding revitalization on made project sure CapEx project for broken quite and we to focused on a budget. the we time time, also in in know, environmental we It's well as continue course, construction the our in deliver terms streamline solutions to projects reducing the reducing to record one be CapEx have to of time. preliminary of construction you on we the new Marlim for XX And improving our future. And, We
-- sales. almost ppm, low XX XX% sulfur also Brazil, record already total XX% accounts which of in diesel of We diesel for XX%, sales the had the
running oil sulfur of -- target quality delivering and footprint carbon our lower and XX% XX supports of producing with low refineries our that oil, have products. low sulfur pre-salt high We
So is terms improved operations high pre-salt the in It's of also refinery very sustainable important utilization We March has that operating terms our factor, and of is in from assets in it's also in terms not of the and to highlight oil conditions. with high substantially profitable that only our throughputs. economic very quite a XX% finished participation utilization a with standards. safety factor and
refining maintaining So safety see results we're of We're terms maintaining high very quite factor standards, concerned. maintaining utilization and of the we profitability in our and good very safety assets.
gas of market also Brazil. continued natural opening the trajectory the have on in up We
work the have that in a sense. we'll Brazil deliver focused be market access seen in continue processing process up to that and we to we we the relevant natural Guamaré direction, continue on and opening also to our units, gas natural refining So provided steps gas and have continue and on market to in opening
cash results to billion. financial for $X recurring our the $XX the of $XX of highlight flow important of billion, billion, it's operating terms free flow In our quarter, EBITDA cash of
we our were able as solid financial well. operational to performance So translate into performance solid
to We have optimal maintained pretty the close leverage our range.
a $X.X CEO with our society XX result to net So we to income $XX range government to have of with debt announce operational dividends within well. conditions, creation and able a mentioned, in and $XX as very billion. in net the first solid continued distribution that XXXX taxes we We relevant of we paid a of take debt billion. recurring financial to billion were contribution quarter our -- commitment has distribution the a Brazilian only having the billion the of terms And and posted our By our has strong stay value BRL optimal the of of create. gross already solid that as reinforces value
that at to quarter financial cost well we preserved maintaining our shares we announced looking net leverage focused the we So our and shows control. below dividend X.XX, X.X when preferred under to ordinary be to BRL is it times, and first on And and the also debt for of our were able per continue so our XXXX. EBITDA leverage maintain sustainability
oil in compared first Next, Talking have about quarter external environment, please. the seen crude the of first to quarter XXXX we when prices of course, the as and well. higher
of impacted of quarter in impact of for quarter exchange a well. the real We the when average period have financial impact but saw XXXX impact, Brazilian first an the results first the the saw over the the quarter appreciation with an the non-cash end And we Brazilian XXXX. positively of period. It's we of appreciation rate FX seen of slight dollar the for QX real as we compare for also XXXX. a It our terms for
please. Next,
restructuring over when very that the barrel environment to lot time on But a you in per external company. challenging we Of the price, financial relevant value good $XXX improving the five -- last more And six same to seeing that as being the quarter. on results. have but prices of terms above we're terms we years. we're a and the and a in the company's operational Brent of one scenarios the done know, We course, the performance see job different much saw the company's that even focused we it's And of is can think about able create next company add are than now. first in last very
We have relevantly reduced our lifting more half. cost than by
We have the the over reduced by billion our interest than G&A XX%. more than interest have in year $X payments, past. refining costs XX%, in we real by payments terms more The
$XX.X Now that was more in very debt. more less is the in and debt a debt, in than solid billion company of very much the five of XXXX very us quarter financial that healthy profile we to of in debt basically confidence scheduled years, healthy the gives about as terms is not that also mature is a corporate next entire is payments, level of performance the first payments course, the dividend five that with which The and a billion. billion debt, upcoming of at situation. only less mature paid, results, those has financial favorable our taxes it's generating is much the There of we also years, well $X to And maturity, social also terms $XX and the now, think When the our but but look as expected company responsibility tax company's future, course, debt is distributing results higher. is next not well. the debt That represents the only leases than now. gross
prices up higher XX% crude the of we quarter the the volume a sales crude We of a lower Even quarter, fourth solid market. to in as had higher quarter when though EBITDA quarter. of billion, had in mentioned, a with we $XX oil a the compare positive XXXX, it's quarter is the and exports, impact XXXX. That's the we In when quarter we I please. fourth oil to a very first compare there EBITDA, Next, of quarter. have domestic seasonality for recurring
a market. solid a very in that EBITDA But So have sales domestic the XXXX. it's the despite volume impact, we lower QX for
EBITDA Next, by improved from please. results the XX% have When the we in upstream look substantially segment, business by quarter. at the segment our
that very coming most the ramp-ups a recently. platforms have installed have of relevant We from the impact we
had ramp-up relevant had also stoppages have of a in given to QX PXX, we that quarter, Sururu. XXXX. in XXXX. Sépia had We the and Carioca situation We we So some the fourth COVID those we the stoppages stoppages in the in of field postpone -- in FPSO Berbigão had because of fewer
So we had QX a relevant XXXX. impact in
Of our management development run course, long the at on of when we we're our reservoirs. system, look focused
to So that's maximize of a And it's short-term we of over the stoppages, important the definition reservoirs though value innovations can lot how increase, generates a we have that it to have long and the those run, so cost have in long of manage the those and interventions. the we even return run.
RTC the volumes, offset domestic lower impact in that the in had have of the margins we in offset by we partially mentioned. sales was Downstream segment, as When that terms market, QX of QX, volumes higher we I the partially higher sales segment, refining In QX QX. the and and with compare
lower We're terms I website, that different segment, event hosted improving also LNG. invite in QX for and XXXX. supply little Gas our of an contracts. had look those I how the our the our relevant is Gas at more they're of Power to a and contracts, the to nature in strategy in and we the have our detail how explain The with designed Looking works. had This and segment sources the portfolio, imports are the website, quite recently segment think also relevant you slides understand in detail Power supply working & impact conditions & Gas of to & more on we mitigated QX. at distribution segment. bit in in They was commercial of impact a very Power And costs the company's
Next, please.
in May to payments agreement, free divestments. billion surplus, debt the were round, was and quarter. to at working the we latest terms from quarter flow quarter very the focused liability. only flow quarter have a taxes, by we to now an going areas of manage and company. it cash of prices $X.X very from the mentioned month. our the of first income had contingent Transfer in for have and quarter we I've before, Rights liability given we the strong to look see management, settle flow. pension Apart XXXX That free paid prepaid the Atapu, liability, dividend bonus we level made the of Including cash not whenever generation next the favorable used around Investments also liabilities sense, this bidding divestments building Transfer for capital of fourth that from mainly in the the Rights cash payments almost to before, be we expected the for of and but finance for signature the for prepay mentioned expected potential Buzios at in cash we look high I impacted to look that the we Surplus operating billion be first were The part relevant will in of also payments we dividend of now. cash from As the whenever the flow -- on debt. free or a a in but payment increase we made the the $X after the And EBITDA have service in we broad the have Sépia XXXX. Transfer After are also either opportunities investments, maintain go the of X.X% pension Right debt, and also the QX in
we quarter over expect balance cash So, time. the high first we very don't maintain ended that with to a
$XX optimal know, million As million between $X you our and guys is optimal of level. level cash
continue our course, It's level terms free flow we open to given cash that after billion, important expectation distribute also the that had. over we and in maintaining in is, in time. quite go expect generate. to our were we back transactions. We $X We leverage, first to And prepaid the to of that billion the to highlight, volatility repurchase active market $X.X the almost quarter, of first quarter, investments
times those prepay couple use mentioned use whenever and So, volatility. reduce to We our a I've exposure managing higher opportunities opportunities we to as liability before, more debt debt had have of we to time. we our those over a expensive
Next, please.
to We we billion optimal continue is maintain able to to from look to April $XX as profile, closer also on especially we and maturity by upstream the XX. duration to offer increase transaction, quarter, healthy of also our debt the our within and the that the leverage bring the end announced range been tender maturity at billion before, we profile. mid-April, announced a $XX the we and that of We've as repurchase quite maturity of I've closed after a the mentioned projects,
XX but the we the maturing XXXX. of from curve, billion, from So in between prepaid the bonds bonds around maturing mostly beginning and $X
Gulf projects, When please. at management in we quarter the started the Mexico phase important have developments XXXX. assets. our the Next, for We we of binding portfolio of look first
Química, were We latest that have call Leste earnings QX signed XXXX. Deten calls the signed earnings after for and our we were projects those had welcome Albacora
cash the We signed also the that the XXXX, in Paraná of the mean projects. in Bacalhau asset closed those exploratory and Basin. I past. from first NPS, relevant contingent coming we have projects earn-outs we had that also saw transport and blocks transporting that We in closed the past. coming we the now quarter inflows Carcara, had is midstream, and from payments In
XXXX. billion positively sold cash impacted generation years of of they flow we from additional cash almost So a those couple had that our $X were QX ago, in coming assets
good Next, very please. Overall, we had quarter. a
was income net $X.X recurring billion. Our
As mentioned before, but the foreign solid as income. very I mentioned impacted gains positively performance. non-cash, had a a they net positive before, operational impact has exchange company I rate We from had
from asset QX sales and lower We impacted didn't from also impact impairment QX. had and positively that reversals gains
XXXX. had in very, results But a QX XXXX. that little So we very the bit result for a solid again, offset QX
please. Next,
results distribute in only society ordinary based share as the having finally, of Brazilian Shareholder before, per of So in and have financial shareholders, relevant dividends company's for group to we can we the our of have as flow from profitable course, That and our that flow most our policy, that dividend on first XX% investments quarter. sustainability, in that distribute the generate maintain our the additional substantial can share common the the we dividends extraordinary mentioned also the on of dividends individual approved also, from the the And results But announced approved and Brazilian case of on important it's our but value solid cash I've we quite well. not our maximum generation. we think in of quarter, value was committing cash quarter We we to our policy focus shareholders. course, distribution company's X.XX XXXX, of per the respecting shareholder. is formula given formula, for dividend share. the preferred first those government pillars the relevant the BRL ourselves focus and creating on
Next, please.
terms our of control. quarter, flow coming distribution earnings with from Thank cash Thank Thank flow over being for dividend the and the very relevant in XXXX. our and you. maintain generation, we costs that to for have quarter value you, a I'll announce first we're pass today that not our only quarter. all solid our under you able a all the course, performance, that's picture very the call. was a of us And we also but of overall That to back the So solid Carla. were leverage cash operational to created able we floor generated we've Carla.
