Your SlideShare is downloading. ×
0
3rd Quarter 2012 (IFRS)Conference Call/WebcastOctober 29th, 2012
DISCLAIMERFORWARD-LOOKING STATEMENTS:DISCLAIMERThe presentation may contain forward-looking statements       We undertake ...
QUARTER HIGHLIGHTS» Net Income of R$5,567 million and EBITDA of R$14,375 million» Oil production in Brazil of 1,904 kboed ...
OIL AND NGL PRODUCTION (BRAZIL)Kbpd                                     2011                                              ...
DOMESTIC AND INTERNATIONAL PRICES                 R$/bbl                                                                  ...
LIFTING COST                                                                69.83                                         ...
DOMESTIC OUTPUT OF OIL PRODUCTS               Oil products output *                                                 Throug...
OIL PRODUCTS SALES IN BRAZIL                                           +6.4%                                              ...
TRADE BALANCE                   Exports                                            Imports                                ...
3Q12 vs 2Q12 OPERATING INCOME                                       5,746                                                 ...
3Q12 vs 2Q12 NET INCOME                                                             618                                   ...
3Q12 vs 2Q12 E&P               16,172              312                                                               1,646...
3Q12 vs 2Q12 DOWNSTREAMR$ million                                              1,402                              3,102   ...
CAPITAL STRUCTURE                      R$ Billion                          09/30/12   06/30/12                            ...
INVESTMENTS                9M2011                                                    9M2012         R$ 50.8 billion       ...
Information:Investor Relations+55 21 3224-1510petroinvest@petrobras.com.br                               16
Upcoming SlideShare
Loading in...5
×

Webcast - 3rd Quarter 2012 (IFRS)

1,627

Published on

Conference Call/Webcast
October 29th, 2012

» QUARTER HIGHLIGHTS
» Net Income of R$5,567 million and EBITDA of R$14,375 million
» Oil production in Brazil of 1,904 kboed (-3% vs. 2Q12) and natural gas of 377 kboed (+4% vs. 2Q12)
» Start up of FPSO Cidade de Anchieta in September 10th
» Current production: 42 kbpd with 3 wells
» Production peak (100 kbpd): March/2013
» Discoveries: Grana Padano (Espirito Santo), Pecém (Ceará), Barra and Moita Bonita (Sergipe Alagoas)
» Record refinery output (2,026 kbpd in 3Q12 vs. 1,886 kbpd in 3Q11)
» Start up of REPAR’s Coking unit
» 7th consecutive year in the Dow Jones Sustainability Index

Published in: Investor Relations
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,627
On Slideshare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
28
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Transcript of "Webcast - 3rd Quarter 2012 (IFRS)"

  1. 1. 3rd Quarter 2012 (IFRS)Conference Call/WebcastOctober 29th, 2012
  2. 2. DISCLAIMERFORWARD-LOOKING STATEMENTS:DISCLAIMERThe presentation may contain forward-looking statements We undertake no obligation to publicly update orabout future events within the meaning of Section 27A of revise any forward-looking statements, whether asthe Securities Act of 1933, as amended, and Section 21E a result of new information or future events or forof the Securities Exchange Act of 1934, as amended, that any other reason. Figures for 2012 on areare not based on historical facts and are not assurances of estimates or targets.future results. Such forward-looking statements merelyreflect the Company’s current views and estimates offuture economic circumstances, industry conditions, All forward-looking statements are expresslycompany performance and financial results. Such terms qualified in their entirety by this cautionaryas "anticipate", "believe", "expect", "forecast", "intend", statement, and you should not place reliance on"plan", "project", "seek", "should", along with similar or any forward-looking statement contained in thisanalogous expressions, are used to identify such forward- presentation.looking statements. Readers are cautioned that thesestatements are only projections and may differ materiallyfrom actual future results or events. Readers are referred NON-SEC COMPLIANT OIL AND GAS RESERVES:to the documents filed by the Company with the SEC, CAUTIONARY STATEMENT FOR US INVESTORSspecifically the Company’s most recent Annual Report onForm 20-F, which identify important risk factors that could We present certain data in this presentation, suchcause actual results to differ from those contained in the as oil and gas resources, that we are not permittedforward-looking statements, including, among other to present in documents filed with the Unitedthings, risks relating to general economic and business States Securities and Exchange Commission (SEC)conditions, including crude oil and other commodity under new Subpart 1200 to Regulation S-K becauseprices, refining margins and prevailing exchange rates, such terms do not qualify as proved, probable oruncertainties inherent in making estimates of our oil and possible reserves under Rule 4-10(a) of Regulationgas reserves including recently discovered oil and gas S-X.reserves, international and Brazilian political, economicand social developments, receipt of governmentalapprovals and licenses and our ability to obtain financing. 2
  3. 3. QUARTER HIGHLIGHTS» Net Income of R$5,567 million and EBITDA of R$14,375 million» Oil production in Brazil of 1,904 kboed (-3% vs. 2Q12) and natural gas of 377 kboed (+4% vs. 2Q12)» Start up of FPSO Cidade de Anchieta in September 10th » Current production: 42 kbpd with 3 wells » Production peak (100 kbpd): March/2013» Discoveries: Grana Padano (Espirito Santo), Pecém (Ceará), Barra and Moita Bonita (Sergipe Alagoas)» Record refinery output (2,026 kbpd in 3Q12 vs. 1,886 kbpd in 3Q11)» Start up of REPAR’s Coking unit» 7th consecutive year in the Dow Jones Sustainability Index FPSO Cidade Anchieta 3
  4. 4. OIL AND NGL PRODUCTION (BRAZIL)Kbpd 2011 20122,200 3Q11 2Q12 3Q122,150 Average 1,978 2,110 Average 1,970 Avarege 1,9042,100 2,069 2,047 2,061 2,040 2,084 2,0982,050 2,002 1,9892,000 2,020 2,003 2,003 2,001 1,993 1,9411,950 1,968 1,963 1,961 1,9601,900 1,940 1,9281,850 1,843 50 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 * Operational Forecast • Scheduled maintenance: 77 kbpd in 3Q12 vs. 52 kbpd in 2Q12 • Natural decline in 3Q12: 57 kbpd • 2012 oil production target maintained 4
  5. 5. DOMESTIC AND INTERNATIONAL PRICES R$/bbl kbpd Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 (1) (2) ARP Brazil ARP USGC Gasoline Imports Diesel Imports • Increasing price differential in 3Q12 • Growing importsNote: (1) Weighted Average Realization Price of Diesel, Gasoline, Naphtha, LPG, Jet Fuel and Fuel Oil (2) Average Realization Price in United States Gulf Coast, considering the same volumes and products sold in Brazil 5
  6. 6. LIFTING COST 69.83 65.11 60.04 61.73 54.11 38.68 38.48 37.57 39.03 R$/Barrel 31.80 31.15 22.31 22.47 22.70 26.63 3Q11 4Q11 1Q12 2Q12 3Q12 Lifting Cost Govt Take • Higher personnel costs • Increase in workovers • Lower production 66
  7. 7. DOMESTIC OUTPUT OF OIL PRODUCTS Oil products output * Throughput Refining Cost kbpd kbpd R$/bbl 98% 2,008 2,026 2.500 93% 96% 100 1,886 90 541 549 1,927 1,974 511 2.000 1,866 80 341 385 70 147 144 316 133 1.500 60 9.31 8.56 441 439 50 7.68 406 1.000 40 1,550 1,586 1,529 30 836 878 894 500 20 10 0 0 3Q11 2Q12 3Q12 3Q11 2Q12 3Q12 3Q11 2Q12 3Q12 Diesel + Jet Fuel Gasoline LPG Others Utilization(%) Imported Oil Domestic Oil • Record operating performance • Refining Cost: higher personnel costs and scheduled turnarounds* Includes E&P’s LPG production 7 Confidencial
  8. 8. OIL PRODUCTS SALES IN BRAZIL +6.4% +5% 2,237 2,350 2,208 459 435 431 232 kbpd 235 228 557 569 488 1,050 1,021 1,090 3Q11 2Q12 3Q12 Diesel + Jet Fuel Gasoline LPG Others • Increase in sales volumes due to economic growth and seasonality 8 Confidencial
  9. 9. TRADE BALANCE Exports Imports Balance +1% +14% -14% 815 822 -1% 724 642kbpd 316 385 554 551 341 +57% 458 351 228 +60% 375 190 51 195 44 84 -173 134 172 148 219 50 31 28 144 163 142 -170 10 -271 -10 3Q11 2Q12 3Q12 3Q11 2Q12 3Q12 -180 -315 -261 3Q11 2Q12 3Q12 Oil Fuel Oil Others Diesel Gasoline Oil Products • Higher sales volumes met with imports 9
  10. 10. 3Q12 vs 2Q12 OPERATING INCOME 5,746 1,475 8,600 (3,675) 5,282 (228)R$ million 2Q12 Sales Revenue COGS SG&A Other Expenses 3Q12 Operating Income Operating Income • Increase in realization prices and lower dry hole expense led to higher operating income 10
  11. 11. 3Q12 vs 2Q12 NET INCOME 618 5,838R$ million 5,567 (2,268) (593) 3,318 (1,346) 2Q12 Operating Financial Equity Income Taxes Minority 3Q12 Net Income Income Results Interest Net Income • Higher operating income and financial results 11
  12. 12. 3Q12 vs 2Q12 E&P 16,172 312 1,646 16,380 413 (937) (1,226)R$ million 2Q12 Price Effect Volume effect Average Cost Volume Effect Operational 3Q12 Operational on Revenue on Revenue effect in COGS on COGS Expenses Operational Results Results • Lower production and higher costs were offset by lower dry hole expense 12
  13. 13. 3Q12 vs 2Q12 DOWNSTREAMR$ million 1,402 3,102 (891) (1,899) (397) (8,651) (9,968) 2Q12 Price Effect Volume Effect Average Cost Volume Effect Operational 3Q12 Operational on Revenue on Revenue Effect in COGS on COGS Expenses Operational Results Results • Reduced loss due to product price increases 13
  14. 14. CAPITAL STRUCTURE R$ Billion 09/30/12 06/30/12 50% 5,5 Endiv.Líq./Cap. Líquida Net Debt/EBITDA1 Net Debt/Net Capitalization2 Div. Líq./EBITDA Short-term Debt 15.3 17.6 40% 4,5 Long-term Debt 171.2 161.6 28% 28% 30% 22% 24% 24% 3,5 2.46 2.42 Total Debt 186.6 179.2 20% 2,5 1.66 1.61 (-) Cash and cash equivalents 3 52.6 45.9 1.41 10% 1,5 = Net Debt 133.9 133.2 0% 0,5 US$ Billion 09/30/12 06/30/12 3T11 3Q11 4T11 4Q11 1T12 1Q12 2T12 2Q12 3T12 3Q12 -10% -0,5 Net Debt 66.0 65.9 -20% -1,5 • Increase in cash equivalents due to exchange of guarantees with PETROS • Funding of € 2 Bi and £ 450 MM in the European market (closed on Oct, 1st)1) Net Debt / (EBITDA 9M12 / 9 X 12)2) Net Debt / (Net Debt + shareholder’s equity) 143) Includes tradable securities (maturing in more than 90 days)
  15. 15. INVESTMENTS 9M2011 9M2012 R$ 50.8 billion R$ 59.8 billion (US$ 31.1 billion) (US$ 31.1 billion) 1% 2% 1% 2% 6% 6% 6% 5% 48% 52% 37% 34% E&P Downstream G&E International Distribution Biofuel Corporate 15
  16. 16. Information:Investor Relations+55 21 3224-1510petroinvest@petrobras.com.br 16
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×