Statement library · Note/letter

Aldemir Bendine, April 22, 2015

“In addition, changes in Petrobras’ business context, including the decline in oil prices, the appreciation of the U.S. Dollar and the need to reduce our level of indebtedness, have prompted a review of the Company´s future prospects and ultimately led to the reduction in the pace of the Company’s capital expenditures.”

Context

Letter from Petrobras's then-CEO to shareholders, on the release of the audited 2014 financial statements, explaining the slowdown in the pace of investments. The English text is Petrobras's own free translation.

Where

Note/letter · Petrobras's 2014 results release (Form 6-K filed with the SEC)

Verification

Checked against the text published by the author: Fourth Quarter of 2014 Results (Form 6-K, abril de 2015), on Oct. 24, 2026. Copied from the 6-K, p. 2, 'Comments from the CEO'. The translation into Portuguese is the project's.

Full text

www.sec.gov/Archives/edgar/data/1119639/000129281415000913/p

Topics

petrobras, investments, economy

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All statements by Aldemir Bendine · Identifier: fala:bendine-carta-acionistas-2015