Quarterly information - ITR
Petro Rio S.A.
September 30, 2021
Independent Auditors' Report on the Review of the Quarterly Information
| 1 |
Contents | ||
Balance sheet................................................................................................................................................................. | 6 | |
Statements of income............................................................................................................................................... | 7 | |
Statements of income.............................................................................................................................................. | 8 | |
Statements of comprehensive income ....................................................................................................... | 9 | |
Statements of comprehensive income ..................................................................................................... | 10 | |
Statements of changes in shareholders' equity..................................................................................... | 11 | |
Statements of cash flows...................................................................................................................................... | 12 | |
Statements of added value ................................................................................................................................. | 13 | |
1. | Operations......................................................................................................................................................... | 14 |
2. | Basis of preparation and presentation of financial statements.................................. | 18 |
3. | Cash and cash equivalents.................................................................................................................... | 21 |
4. | Securities........................................................................................................................................................... | 22 |
5. | Restricted cash ............................................................................................................................................. | 22 |
6. | Accounts receivable.................................................................................................................................. | 23 |
7. | Recoverable taxes....................................................................................................................................... | 24 |
8. | Advances to suppliers.............................................................................................................................. | 24 |
9. | Non-current assets classified as held for sale (Consolidated)...................................... | 25 |
10. | Investments..................................................................................................................................................... | 27 |
11. | Property, plant and equipment (Consolidated) ................................................................... | 30 |
12. | Intangible assets (Consolidated) ...................................................................................................... | 32 |
13. | Suppliers........................................................................................................................................................... | 36 |
14. | Taxes and social contributions payable ..................................................................................... | 36 |
15. | Other accounts payable - Acquisition of Wahoo................................................................. | 36 |
16. | Loans and financing.................................................................................................................................. | 37 |
17. | Leases CPC 06 (R2) / IFRS 16 ............................................................................................................... | 40 |
18. | Deferred income tax and social contribution.......................................................................... | 41 |
19. | Provision for abandonment (ARO).................................................................................................. | 42 |
20. | Advances to/from partners in oil and gas operations ....................................................... | 44 |
21. | Impairment..................................................................................................................................................... | 44 |
22. | Shareholders' equity ................................................................................................................................. | 45 |
23. | Related party transactions ................................................................................................................... | 47 |
24. | Net revenue.................................................................................................................................................... | 48 |
25. | Costs of products sold and services rendered ....................................................................... | 49 |
26. | Other operating revenues (expenses), net................................................................................ | 50 |
27. | Financial income (loss) ........................................................................................................................... | 50 |
28. | Income tax and social contribution................................................................................................ | 51 |
29. | Segment reporting (Consolidated).................................................................................................. | 51 |
30. | Objectives and policies for financial risk management................................................... | 52 |
31. | Insurance (Not reviewed by the independent auditors) ................................................ | 56 |
32. | Contingencies................................................................................................................................................ | 57 |
33. | Subsequent events ................................................................................................................................... | 58 |
33.1 | TBMT-10H well start of production................................................................................................ | 58 |
| 2 |
Independent auditor's review report on quarterly information
The Shareholders, Board of Directors and Officers
Petro Rio S.A.
Rio de Janeiro - RJ
Introduction
We have reviewed the accompanying individual and consolidated interim financial information, contained in the Quarterly Information Form (ITR) of Petro Rio S.A. for the quarter ended September 30, 2021, comprising the statement of financial position as of September 30, 2021 and the related statements of profit or loss and of comprehensive income for the three- and nine-month periods then ended, and the statements of changes in equity and of cash flows for the nine month period then ended, including the explanatory notes.
Management is responsible for preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement NBC TG 21 - Interim Financial Reporting, and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in conformity with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.
Scope of review
We conducted our review in accordance with Brazilian and international standards on review engagements (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion on the individual and consolidated interim financial information
Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the quarterly information referred to above are not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34 applicable to the preparation of Quarterly Information Form (ITR), and presented consistently with the rules issued by the Brazilian Securities and Exchange Commission (CVM).
| 3 |
Other matters
Statements of value added
The abovementioned quarterly information includes the individual and consolidated statement of value added (SVA) for the nine months period ended September 30, 2021, prepared under Company's Management responsibility and presented as supplementary information by IAS 34. These statements have been subject to review procedures performed together with the review of the quarterly information with the objective to conclude whether they are reconciled to the interim financial information and the accounting records, as applicable, and if its format and content are in accordance with the criteria set forth by NBC TG 09 - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the overall individual and consolidated interim financial information.
Rio de Janeiro, October 29, 2021.
ERNST & YOUNG
Auditores Independentes S.S.
CRC-2SP015199/O-6
| 4 |
Notes to the quarterly information
September 30, 2021
(In thousands of reais, unless otherwise indicated)
Balance sheet
September 30, 2021 and December 31, 2020 (In thousands of reais - R$)
Parent company | Consolidated | ||||||
Note | 09/30/2021 | 12/31/2020 | 09/30/2021 | 12/31/2020 | |||
Assets | |||||||
Current assets | |||||||
Cash and cash equivalents | 3 | 19,868 | 27,480 | 1,948,979 | 809,273 | ||
Securities | 4 | 3,541 | - | 2,577,231 | 22,793 | ||
Restricted cash | 5 | - | - | - | 49,996 | ||
Accounts receivable | 6 | - | - | 291,783 | 386,165 | ||
Oil inventories | 25 | - | - | 359,396 | 186,160 | ||
Inventory of consumables | - | - | 25,283 | 8,506 | |||
Financial instruments | 30 | - | - | 50 | 14,926 | ||
Recoverable taxes | 7 | 2,287 | 2,648 | 76,977 | 124,321 | ||
Advances to suppliers | 8 | 16 | 16 | 72,989 | 58,245 | ||
Advances to partners | 20 | - | - | 28,477 | 86,997 | ||
Prepaid expenses | 114 | 340 | 9,352 | 25,594 | |||
Other receivables | - | - | 480 | - | |||
25,826 | 30,484 | 5,390,997 | 1,772,976 | ||||
Non-current assets classified as held for | 9 | - | - | 72,665 | 68,439 | ||
sale | |||||||
25,826 | 30,484 | 5,463,662 | 1,841,415 | ||||
Non-current assets | |||||||
Advances to suppliers | 8 | - | - | 12,596 | 12,596 | ||
Deposits and pledges | 4,392 | 5,347 | 15,224 | 20,317 | |||
Recoverable taxes | 7 | - | - | 8,891 | 32,848 | ||
Deferred taxes | 18 | 16,817 | 14,181 | 202,259 | 199,942 | ||
Related parties | 23 | 40,179 | 8,627 | - | - | ||
Right-of-use (Lease CPC 06.R2 IFRS 16) | 17 | - | - | 439,419 | 369,836 | ||
Investments | 10 | 5,836,047 | 3,642,162 | - | - | ||
Property, plant and equipment | 11 | 1,120 | 1,486 | 3,514,952 | 3,359,013 | ||
Intangible assets | 12 | - | - | 1,788,163 | 956,866 | ||
5,898,555 | 3,671,803 | 5,981,504 | 4,951,418 | ||||
Total assets | 5,924,381 | 3,702,287 | 11,445,166 | 6,792,833 | |||
See the accompanying notes to the financial statements.
| 5 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Petro Rio SA published this content on 03 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 01:01:02 UTC.