Created in 1953, Petrobras is an integrated
energy company engaged in exploration
and production, refining, commercialization,
of oil products, natural gas, biofuels and
electricity. We achieved global leadership in
technology and operations at deep waters
and our forecast is to double oil production in
Brazil by 2020.
Non - Voting
Non - Voting
Non - Voting
Ebitda Net Income
2030 Strategic Plan
Oil production increases up to 2020 and it
sustains at an average of 4 million barrels of oil
per day for the 2020-2030 period.
• Integrated Growth
• Social and Environmental Responsability
and Management Plan
US$ 220.6 billion
Exploration & Production
Gas & Energy
Engineering, Technology and Materials
Other Areas *
Management focused on excellence in costs
Guarantee the expansion of the business
with solid financial indicators
Oil and Natural Gas Exploration &
Production projects in Brazil
Investment Grade Rating maintenance
No new equity issuance
Convergence with international
prices (Oil Products)
Partnerships and business
Operating Costs Optimization Program
Campos Basin Operational
Efficiency Improvement Program
Investment and Operating Costs Management
Well Cost Reduction Program
Subsea Installations Cost
* Financial Area, Strategy and Corporate Services
In 2013, oil and natural gas production was
2,320 thousand barrels of oil equivalent per
day (boed), down 1% from 2012. The Campos
Basin Operational Efficiency Increase Program
contributed with 63 thousand barrels of oil per
day (bpd) in additional oil production in 2013.
The forecast for 2014 is a 7.5% increase in our oil
production in Brazil.
Total oil production from pre-salt areas rose 79%
to 301,600 bpd in 2013, with successive records.
Accumulated production surpassed 290 million
boe in only six years of production.
A record output of 412 thousand bpd was set on
February 27, 2014. In the same month, the first
well to produce using the innovative Buoyancy
Supported Risers (BSR) technology, on FPSO
Cidade de São Paulo, started-up producing an
impressive 36 thousand bpd.
Exploratory Success and
Reserves Increase in Brazil
Exploratory Success Index: 75% (100% in Pre-salt)
Reserve Replacement Index : 131% (above 100% for the 22nd consecutive year)
Reserve/ Production Ratio (R/P) = 20 years
Highlights for Pre-salt and new exploratory frontiers discoveries
(Sergipe-Alagoas and Potiguar).
Oil, NGL and Natural Gas
Production Curve in Brazil
2013 2014 2015 2016 2017 2018 2019 2020
7.5% ± 1 p.p.
28 new platforms will start-up operation in the 2014-2018 period
Oil, NGL and Natural Gas Production (million boe)
Oil and NGL Production (million bpd)
Proven Reserves - SPE criteria
(Society of Petroleum Engineers)
platforms that will START-UP in 2014
fpso Cidade de Ilhabela
FPSO Cidade de Mangaratiba
P-63 will process the
production of P-61
Due to increased operational efficiency of refining
facilities and greater use of logistical assets, in 2013
we processed 2,074 thousand bpd of oil and NGL
(Natural Gas Liquid), and produced 2,124 thousand
bpd of oil products (6% more than in 2012).
Diesel and gasoline production record was set
in August, with a daily average of 893,000 bpd
and 515 thousand bpd, respectively. On January,
2014 gasoline S-50 was launched in Brazil. It
has a maximum sulfur content of 50 parts per
Abreu e Lima Refinery (1st phase) 2014 115 kbpd
Abreu e Lima Refinery (2nd phase) 2015 115 kbpd
Comperj (1st phase) 2016 165 kbpd
Premium I (1st phase) 2018 300 kbpd
Premium II 2019 300 kbpd
UNIT total capacity
million and complies with changes to product
specification. One of the main benefits of the
new fuel is lower vehicular emissions of pollutants.
We sold 2,383 thousand bpd of oil products in the
brazilian market, up 4% from 2012. Highlights were
diesel (+5%), gasoline (+4%), and fuel oil (+17%). Oil
exports fell 43% from 2012 to 207 thousand bpd
and imports rose 17% to 404 thousand bpd.
Therewith, our trade balance reported a deficit
of US$ 16.2 billion.
Our subsidiary Transpetro operates 48 terminals,
53 ships, 7,517 km of oil pipelines and 7,152 km of
gas pipelines. In 2013, 59.4 million tons of oil and
oil products were transported and averaged 69.8
/day were moved (up 15% from previous
year’s average). Under the Fleet Modernization
and Expansion Program (Promef), three ships have
been delivered in 2013.
Our subsidiary Petrobras Biocombustível owns
three plants and two others through partnership in
Brazil. In 2013, total biodiesel production capacity
rose from 765,000 m³/year to 821,000 m³/year.
We have an interest in nine ethanol plants through
controlled companies. At the end of the 2013/2014
harvest, we achieved an ethanol output of 1.06
million m³ and 1.58 million tons of sugar.
We are present in more than 20 countries. Our
operations abroad focus on Latin America, Africa
and the US and prioritize Upstream. Investments
abroad in 2013 were R$ 5.1 billion, 90% on
Upstream. Our output abroad was 128,500 barrels
of oil per day and 15.5 million m³/day of natural gas,
totaling 219,500 barrels of oil equivalent per day.
The Leopoldo Américo Miguez de Mello Research
and Development Center (Cenpes), in Rio de
Janeiro, coordinates the investments in Research &
Development, that totaled R$ 2.4 billion in 2013, in
partnerships with some universities and institutes,
besides suppliers and other operating companies.
Some of the most important achievements were
the development of new materials, design of
systems to more accurately evaluate exploratory
risk, lower well construction time and real time
Governance and Social
We are a public company and comply with stock
market rules and capital market regulators in Brazil,
the US, Spain and Argentina, where our shares are
listed. We pursue management strategies and tools
that are consistent with best corporate governance
practices and have been listed in the Dow Jones
Sustainability Index World for eight years in a row.
In line with safety standards of our operations, most
of our units in Brazil are ISO 14001 (environmental
management) and OHSAS 18001 (occupational
health and safety) certified. In 2013, investments on
Investments on social, environmental and sports
projects were R$ 519.5 million. We also launched
the Petrobras Social and Environmental Program,
which allocates R$ 1.5 billion for these areas from
2014 to 2018, and was based on UN Global Compact
guidelines and ISO 26000 principles.
Gas & Energy
Natural gas supply in 2013 rose 15% compared to
the previous year to 85.9 million m³/day. Brazil’s gas
pipeline network totals 9,190 km and the volume of
natural gas sold averaged 62.5 million m³/day, up
14% from 2012. We have an interest in 21 natural
gas distribution companies whose combined sales
were 33.2 million m3
/day, or 53% of Brazil’s market.
We have three fertilizer plants in Brazil and, in 2013,
we sold 1.06 million tons of urea and 189,000 tons
of ammonia. We generated an average of 3,983
megawatts through 18 own and leased thermal
power plants for the Brazilian National Grid, up 48%
from the previous year.
Our subsidiary Petrobras Distribuidora sells and
distributes oil products and biofuels. In 2013, it
sold 53.7 million m³, up 4.5% from 2012. It is a
leader in the Brazilian market, with a 37.5% market
share and a network of 7,710 service stations.
Its expenditures last year totaled R$ 1.03 billion,
net operating revenue was R$ 86.6 billion and net
income was a record R$ 1.8 billion.
Cidade de São Paulo
Cidade de Itajaí
Cidade de Paraty
Nine new platforms
were completed in 2013.
Adding 1 million
barrels of production
capacity per day