May 08, 2020
Petróleo Brasileiro S.A. – Petrobras in view of the news published today in the media regarding the meeting held on 05/06/2020 by the Executive Board in an internal event
with the company’s employees, clarifies that it has been keeping the market informed about the actions on resilience adopted due to the impacts of the COVID-19 (coronavirus) pandemic and the oil prices shock, according to the releases disclosed on 03/26/2020 and 04/01/2020.
Resilience actions are aimed at preserving the company’s liquidity in this scenario of uncertainties, reinforcing its financial soundness. Considering current costs and expenses and the high volatility of the price of commodities, it is not possible to accurately measure the use of the company’s cash, which may, however, in a stress scenario, reach US$ 1 billion in months of higher volatility.
The company reinforces that with the measures adopted it will ensure the maintenance of its financial health and cash balance in 2020 and that it will keep the markets informed about future movements, reflecting its commitment to transparency.