Between May 6 and 9, we will be present at the 50th edition of the Offshore Technology Conference (OTC) in Houston, USA, where we will present our technological journey to enable one of the main exploration and production projects in our portfolio: The Libra block, in the Santos Basin pre-salt cluster.
Petrobras reported a net profit of R$ 4 billion in the first quarter of 2019, an increase of 92% over the fourth quarter of 2018, mainly due to the lower occurrence of special items, with a total of R$ 600 million (negative). Adjusted EBITDA of R$ 27.5 billion was 6% lower than the fourth quarter of 2018, mainly driven by lower Brent prices, while free cash flow was positive for the 16th quarter in a row, with a total of R$ 12.1 billion.
Petrobras informs that the Board of Directors, in a meeting held today, approved new guidelines for the management of its asset portfolio. The guidelines are in line with the Resilience Plan, released on 03/08/2019, being part of the preparation process of the 2020-2024 Business and Management Plan, which is expected to be approved and disclosed in the 4th quarter of 2019.