Resilience and increase in net income mark the 1st quarter of 2020

 

We announce our results for the 1st quarter of 2020. Resilience and operational efficiency marked the period, and prudence is our trademark to overcome this moment.

 

We recorded increases of 51% in net income and 40% in net revenues, compared to the same period in 2019. The commitment to the health and safety of our team has doubled with our Covid-19 contingency plan.

 

The valuation and the high demand for Atlanta Field oil contribute to our results – our oil has a low sulfur content, in line with the new maritime fuel regulations prepared by the International Maritime Organization (IMO) which came into effect in January.

 

We will continue with our prudent and technical attitude in our decisions, monitoring daily the market developments and future scenarios, convinced that our financial soundness and resilience over the years keeps us in a privileged position to go through these times of crisis and volatility.

 

See the complete information in our Results Center.