This document is from the French Institute of Petroleum and discusses global energy trends:
1) It projects that by 2030, renewable sources like biofuels and solar will see strong growth and make up a larger share of global primary energy demand, while oil's relative participation will decline.
2) Many institutions project that natural gas will play an important role replacing offline nuclear capacity in Japan in the short term. Asia has significant natural gas import infrastructure and LNG prices are currently lower than oil.
3) While OECD countries remain the biggest oil consumers, demand growth is shifting to countries like China, India, and the Middle East. Asia will become a major oil consumer region like Europe and North America
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key aspects include increasing domestic oil and gas production, with targets of 5.4 million boe/d by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost domestic refining and natural gas supply while expanding internationally in select markets and business segments. Local content is expected to provide nearly 70% of total investment needs during this period.
The document contains an economic impact study from Penn State economists on the Marcellus Shale that found:
- In 2010, $8 billion annual impact and 107,000 jobs, with $900 million in state and local tax revenue.
- By 2020, $14 billion annual impact and 175,000 jobs, with $1.4 billion in state and local tax revenue.
- 30% of tax revenue remains local.
Hospitality Lawyer with pearls from NYU - Bjorn Hanson & Economists 6 2 08Jim Butler
Hotel Lawyer in NY. We cover many topics at wwwHotelLawBlog.com, but ne of the things that has fascinated me about the hospitality industry for more than 20 years now, is the close -- almost intimate -- relationship of industry performance to the U.S. economy's performance. Some might say this is intuitive, that when the economy does well, all business does well. But that is not always true. There are some businesses which do better in hard times, like discount and bargain stores, and there are some that seem impervious, like ultra luxury goods. However the relationship of the lodging industry's performance to the general economy, has been carefully documented by the experts, and it is worth noting. The implications are interesting.
Here is the presentation made at the NYU Hotel Investment Conference on June 2, 2008, along with his other panelists about the current state of our domestic and global economy, along with implications for the hospitality industry.
This document summarizes the key financial and operational highlights for Eletropaulo in 2008.
In 2008, Eletropaulo saw 3.9% growth in its captive market, an 8.3% increase in EBITDA to R$1,696 million, and a R$1,027 million net income, 44.1% above 2007. Electricity consumption grew 3.3% overall. Losses were reduced from 12% in 2005 to 11.6% in 2008 through inspections and regularization of illegal connections. Investments totaled R$457 million in 2008.
Energias do Brasil achieved several important goals in the first half of 2006. It started operations at its Peixe Angical hydroelectric plant, concluded its redundancy program, and issued new debentures. However, net income decreased due to one-time factors in 2005 and costs associated with the redundancy program. Overall the company is making progress on initiatives to reduce losses and position itself for continued growth.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
This document summarizes Gafisa's second quarter 2008 results. Some key highlights include:
1) Launches increased 102% and pre-sales increased 62% compared to the second quarter of 2007. Net operating revenues rose 63%.
2) EBITDA reached R$74 million, a 106% increase, and net income increased 67% compared to the second quarter of 2007.
3) Gafisa has expanded its operations to 20 Brazilian states with 143 developments nationwide, diversifying its product offerings and presence in new markets.
fifth third bancorp 3Q08CreditStratsFINALfinance28
The document provides stratifications of loan and lease portfolios by geographic region, product type, lien position, and credit score. Some key figures reported include percentages of total loans by region/product/position, non-performing asset (NPA) ratios, and year-to-date net charge-off (NCO) ratios. Florida, Michigan and other states represented the largest percentages of loans. Brokered home equity and retail direct home equity loans made up the bulk of the portfolio.
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key aspects include increasing domestic oil and gas production, with targets of 5.4 million boe/d by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost domestic refining and natural gas supply while expanding internationally in select markets and business segments. Local content is expected to provide nearly 70% of total investment needs during this period.
The document contains an economic impact study from Penn State economists on the Marcellus Shale that found:
- In 2010, $8 billion annual impact and 107,000 jobs, with $900 million in state and local tax revenue.
- By 2020, $14 billion annual impact and 175,000 jobs, with $1.4 billion in state and local tax revenue.
- 30% of tax revenue remains local.
Hospitality Lawyer with pearls from NYU - Bjorn Hanson & Economists 6 2 08Jim Butler
Hotel Lawyer in NY. We cover many topics at wwwHotelLawBlog.com, but ne of the things that has fascinated me about the hospitality industry for more than 20 years now, is the close -- almost intimate -- relationship of industry performance to the U.S. economy's performance. Some might say this is intuitive, that when the economy does well, all business does well. But that is not always true. There are some businesses which do better in hard times, like discount and bargain stores, and there are some that seem impervious, like ultra luxury goods. However the relationship of the lodging industry's performance to the general economy, has been carefully documented by the experts, and it is worth noting. The implications are interesting.
Here is the presentation made at the NYU Hotel Investment Conference on June 2, 2008, along with his other panelists about the current state of our domestic and global economy, along with implications for the hospitality industry.
This document summarizes the key financial and operational highlights for Eletropaulo in 2008.
In 2008, Eletropaulo saw 3.9% growth in its captive market, an 8.3% increase in EBITDA to R$1,696 million, and a R$1,027 million net income, 44.1% above 2007. Electricity consumption grew 3.3% overall. Losses were reduced from 12% in 2005 to 11.6% in 2008 through inspections and regularization of illegal connections. Investments totaled R$457 million in 2008.
Energias do Brasil achieved several important goals in the first half of 2006. It started operations at its Peixe Angical hydroelectric plant, concluded its redundancy program, and issued new debentures. However, net income decreased due to one-time factors in 2005 and costs associated with the redundancy program. Overall the company is making progress on initiatives to reduce losses and position itself for continued growth.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
This document summarizes Gafisa's second quarter 2008 results. Some key highlights include:
1) Launches increased 102% and pre-sales increased 62% compared to the second quarter of 2007. Net operating revenues rose 63%.
2) EBITDA reached R$74 million, a 106% increase, and net income increased 67% compared to the second quarter of 2007.
3) Gafisa has expanded its operations to 20 Brazilian states with 143 developments nationwide, diversifying its product offerings and presence in new markets.
fifth third bancorp 3Q08CreditStratsFINALfinance28
The document provides stratifications of loan and lease portfolios by geographic region, product type, lien position, and credit score. Some key figures reported include percentages of total loans by region/product/position, non-performing asset (NPA) ratios, and year-to-date net charge-off (NCO) ratios. Florida, Michigan and other states represented the largest percentages of loans. Brokered home equity and retail direct home equity loans made up the bulk of the portfolio.
04 30 2009 I First Quarter Results 2009 UsgaapEmbraer RI
- The document provides financial results and performance metrics for Embraer's first quarter of 2009, including lower jet deliveries, revenue, income from operations, and net income compared to previous quarters
- Key events in Q1 2009 included FAA certification of the Lineage 1000 jet and several military aircraft sales
- Embraer's backlog remained strong at $19.7 billion despite lower orders, with a continued focus on the E-Jet family which saw over 500 deliveries to date
CCR's 3Q06 results showed a 5.9% increase in net revenues compared to 3Q05. Total costs grew 8.6% due to higher operating costs returning to long-term trends, while EBIT increased 2.5% and EBITDA grew 3.9%. The financial result was negatively impacted by currency fluctuations. Traffic across most concessions recovered compared to recent quarters. CCR maintained a sound capital structure and liquidity. New business opportunities may come from additional Brazilian concessions and expanding into other markets like Mexico, Chile, U.S. and Canada.
The document is a quarterly report from the Hera Group, a multi-utility company operating in Italy. It provides an overview of Hera's mission and strategy, which involves providing quality utility services while respecting local communities and the environment. The report summarizes Hera's financial and operating performance over the past 5 years, which has seen revenue and profitability increase significantly. It also describes Hera's strategy of pursuing growth both organically and through mergers and acquisitions of other utility companies to expand its service areas and business lines. Sustainability is a key part of Hera's strategy and it reports on various social and environmental indicators to measure its performance.
The document summarizes the 2009 financial results of an unnamed bank. Key points include:
1) Net income for 2009 was RUB 1.2 billion, down 61.2% from 2008, as the bank took conservative measures during the economic crisis to prepare for potential recovery.
2) The bank maintained strong capital and liquidity positions despite challenges like downward pressure on interest margins and subdued loan demand.
3) Efficiency improved over 2009, with cost to income ratio down 4 percentage points and personnel expenses down 17.2% from 2008.
Gujarat Gas reported a 2.1% quarter-on-quarter increase in net operating income to Rs419 crore for 2QCY2010, with net profit increasing 21.5% year-over-year to Rs58 crore. EBITDA margin declined 270 basis points sequentially to 22.3% due to a decrease in the gross gas spread. Average gas sales volumes grew 2.1% quarter-on-quarter and 19.3% year-over-year. While top-line growth met expectations, bottom-line was marginally below estimates due to lower-than-expected EBITDA. Supply constraints are receding with improving domestic gas availability and subdued RLNG prices, supporting future volume
WEG reported its Q2 2010 results with the following highlights:
- Gross operating revenue increased 8.5% year-over-year to R$1.227 billion. Domestic revenue grew 3.7% while external markets grew 20%.
- Net income decreased 2.5% to R$116.1 million and EBITDA declined 4.3% to R$174 million.
- The company expanded internationally through additional investments in Mexico and South Africa and acquiring a company in Brazil.
- Management believes growth opportunities remain in energy efficiency and renewable energy areas.
Royal Dutch Shell reported a 5% increase in second quarter 2008 earnings compared to the same period last year, driven by higher oil and gas prices offsetting lower production volumes and weaker downstream conditions. The company declared a dividend of $0.40 per share, an increase of 11% from the prior year, and invested $5.7 billion in capital projects during the quarter. Shell also announced an offer to acquire Duvernay Oil Corp. for $5.9 billion including debt, subject to regulatory approvals.
Prospects for Growth - a Strategic Outlook | CEO José Sergio Gabrielli de Aze...Petrobras
- Brazil's oil demand is expected to grow strongly due to emerging market growth. Petrobras' oil product sales in Brazil have increased remarkably in recent years, especially for diesel and gasoline.
- Projections show sizable increases in the future demand for oil products and natural gas in Brazil, calling for additional refining capacity as seen in other fast-growing regions. This growth will require new equipment and critical resources in the supply chain.
wyeth UBS Global Life Sciences Conferencefinance12
Greg Norden, CFO of Wyeth, presented at the UBS Global Life Sciences Conference on September 25, 2007. He discussed Wyeth's strong financial performance in the second quarter and first half of 2007, with 10% revenue growth and earnings per share increases of 13-12%. Norden highlighted several of Wyeth's key marketed products that contributed significantly to revenue growth, including Enbrel, Prevnar, Effexor, and Nutritionals. He also provided an outlook for 2007 with raised EPS guidance and expectations for continued bottom line growth outpacing revenue growth.
Suzano's 2Q11 results were impacted by maintenance downtimes, higher operational costs, and appreciation of the Brazilian real against the US dollar. Pulp and paper sales volumes were flat or increased compared to the previous quarter. Cash production costs increased due to higher wood, chemical and fixed costs. EBITDA and net income declined compared to the previous quarter and the prior year period, while EBITDA margins decreased. The company continues to focus on increasing productivity and efficiency to offset cost pressures.
This document summarizes PPG Industries' first quarter 2008 financial results. It reported record sales driven by acquisition growth and solid organic volume growth despite difficult economic conditions. Segment earnings grew 17% year-over-year. All business segments experienced sales growth with the exception of the Architectural Coatings EMEA segment, which saw low-to-mid single digit growth. PPG expects key challenges in 2008 to include energy and raw materials costs.
JBS reported its first quarter 2009 results. Net revenue increased 58.2% year-over-year to R$9.27 billion. Consolidated EBITDA grew 20.4% to R$211.5 million. Key highlights included sustained margins in the US beef business, improved performance in Brazil, and consolidation of a global production and distribution platform. Management remains focused on reducing debt and capturing synergies across the business.
2007 - 7th Annual U.S. Analyst Airline Market Overview Commecial AviationEmbraer RI
The document provides an overview of the airline market from the perspective of aircraft in the 30-120 seat segment. It discusses trends in the industry including increased low-cost carrier competition, higher fuel prices, and efforts by airlines to reduce costs. Opportunities for regional jets include replacing aging fleets in China, Russia, and other growing markets. The E-Jets family from Embraer is positioned as helping airlines improve efficiency through right-sizing aircraft on routes.
Energias do Brasil reported strong financial results in 1Q08, with net income increasing 28.3% over 1Q07. The generation segment drove growth with an 86.3% increase in EBITDA. Commercialization also contributed significantly with a 165.5% increase in EBITDA due to high short-term prices. Manageable expenses remained stable despite inflation, while net financial expenses decreased 34.2% due to improved foreign exchange results. The company has low leverage, an extended debt maturity profile, and minimal currency exposure positioning it well for continued growth.
Wedding Industry Best Practices Survey PresentationWendy Dahl
Presentation given by Wendy Dahl at The Special Event 2011 during the session "Who Moved My Brides?". It reviews the wedding industry as a whole, how it reacted to the changing economy and how professionals stayed in business. To make the information useful, strategies and resources to put the statistics into action were included.
Venture-backed IPO activity continued to increase in the second quarter of 2007, with 26 companies raising $4.27 billion compared to 19 companies raising $2 billion in the same quarter of 2006. However, venture-backed merger and acquisition activity declined, with 67 deals in the second quarter of 2007 versus 95 deals in the second quarter of 2006. The technology sector saw the most IPO and M&A activity. Boston and San Jose were the metro regions with the most venture-backed IPO exits.
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key elements include increasing domestic oil and gas production, with targets of 5.4 million boe/day by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost local content of supplies to around 70% and focuses investment on infrastructure, logistics and the domestic value chain in Brazil.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris that provides environmental services. At an investor day in October 2008, Veolia discussed three main levers for value creation: 1) operating financial assets based on secure contractual forms, 2) assets invested based on consistent profitability targets of WACC + 3%, and 3) a historic base that generates recurring cash flow that is 85% from Europe and benefits from high visibility. Veolia also reviewed its strong organic growth, balanced geographical contribution from Europe, and operations in regions with high profitability. Examples demonstrated contract renewal rates, returns on operating financial assets, and value creation through a project in Poland.
Roddy Child-Villiers, Head of Investor Relations, presented Nestle's 2008 9-month sales results. Key highlights included organic growth of 8.9% for the group and food & beverage division, comfortably above the long-term target. Emerging markets achieved 16.8% organic growth. The financial position remained strong with a high credit rating and predictable cash flows. The outlook for full-year organic growth was improved to around 8%.
This document summarizes Braskem's 4Q07 earnings conference call. It discusses:
1) Braskem's consolidation of the Brazilian petrochemical industry through acquisitions in 2007 and its investment agreement with Petrobras.
2) Braskem's record resins production and sales in 2007, as well as its financial performance including an 11% increase in net revenue and 5% increase in EBITDA.
3) Braskem's priorities for 2008 including the startup of new operations in Paulinia, progress on growth projects in Venezuela, and extending its debt maturity profile.
04 30 2009 I First Quarter Results 2009 UsgaapEmbraer RI
- The document provides financial results and performance metrics for Embraer's first quarter of 2009, including lower jet deliveries, revenue, income from operations, and net income compared to previous quarters
- Key events in Q1 2009 included FAA certification of the Lineage 1000 jet and several military aircraft sales
- Embraer's backlog remained strong at $19.7 billion despite lower orders, with a continued focus on the E-Jet family which saw over 500 deliveries to date
CCR's 3Q06 results showed a 5.9% increase in net revenues compared to 3Q05. Total costs grew 8.6% due to higher operating costs returning to long-term trends, while EBIT increased 2.5% and EBITDA grew 3.9%. The financial result was negatively impacted by currency fluctuations. Traffic across most concessions recovered compared to recent quarters. CCR maintained a sound capital structure and liquidity. New business opportunities may come from additional Brazilian concessions and expanding into other markets like Mexico, Chile, U.S. and Canada.
The document is a quarterly report from the Hera Group, a multi-utility company operating in Italy. It provides an overview of Hera's mission and strategy, which involves providing quality utility services while respecting local communities and the environment. The report summarizes Hera's financial and operating performance over the past 5 years, which has seen revenue and profitability increase significantly. It also describes Hera's strategy of pursuing growth both organically and through mergers and acquisitions of other utility companies to expand its service areas and business lines. Sustainability is a key part of Hera's strategy and it reports on various social and environmental indicators to measure its performance.
The document summarizes the 2009 financial results of an unnamed bank. Key points include:
1) Net income for 2009 was RUB 1.2 billion, down 61.2% from 2008, as the bank took conservative measures during the economic crisis to prepare for potential recovery.
2) The bank maintained strong capital and liquidity positions despite challenges like downward pressure on interest margins and subdued loan demand.
3) Efficiency improved over 2009, with cost to income ratio down 4 percentage points and personnel expenses down 17.2% from 2008.
Gujarat Gas reported a 2.1% quarter-on-quarter increase in net operating income to Rs419 crore for 2QCY2010, with net profit increasing 21.5% year-over-year to Rs58 crore. EBITDA margin declined 270 basis points sequentially to 22.3% due to a decrease in the gross gas spread. Average gas sales volumes grew 2.1% quarter-on-quarter and 19.3% year-over-year. While top-line growth met expectations, bottom-line was marginally below estimates due to lower-than-expected EBITDA. Supply constraints are receding with improving domestic gas availability and subdued RLNG prices, supporting future volume
WEG reported its Q2 2010 results with the following highlights:
- Gross operating revenue increased 8.5% year-over-year to R$1.227 billion. Domestic revenue grew 3.7% while external markets grew 20%.
- Net income decreased 2.5% to R$116.1 million and EBITDA declined 4.3% to R$174 million.
- The company expanded internationally through additional investments in Mexico and South Africa and acquiring a company in Brazil.
- Management believes growth opportunities remain in energy efficiency and renewable energy areas.
Royal Dutch Shell reported a 5% increase in second quarter 2008 earnings compared to the same period last year, driven by higher oil and gas prices offsetting lower production volumes and weaker downstream conditions. The company declared a dividend of $0.40 per share, an increase of 11% from the prior year, and invested $5.7 billion in capital projects during the quarter. Shell also announced an offer to acquire Duvernay Oil Corp. for $5.9 billion including debt, subject to regulatory approvals.
Prospects for Growth - a Strategic Outlook | CEO José Sergio Gabrielli de Aze...Petrobras
- Brazil's oil demand is expected to grow strongly due to emerging market growth. Petrobras' oil product sales in Brazil have increased remarkably in recent years, especially for diesel and gasoline.
- Projections show sizable increases in the future demand for oil products and natural gas in Brazil, calling for additional refining capacity as seen in other fast-growing regions. This growth will require new equipment and critical resources in the supply chain.
wyeth UBS Global Life Sciences Conferencefinance12
Greg Norden, CFO of Wyeth, presented at the UBS Global Life Sciences Conference on September 25, 2007. He discussed Wyeth's strong financial performance in the second quarter and first half of 2007, with 10% revenue growth and earnings per share increases of 13-12%. Norden highlighted several of Wyeth's key marketed products that contributed significantly to revenue growth, including Enbrel, Prevnar, Effexor, and Nutritionals. He also provided an outlook for 2007 with raised EPS guidance and expectations for continued bottom line growth outpacing revenue growth.
Suzano's 2Q11 results were impacted by maintenance downtimes, higher operational costs, and appreciation of the Brazilian real against the US dollar. Pulp and paper sales volumes were flat or increased compared to the previous quarter. Cash production costs increased due to higher wood, chemical and fixed costs. EBITDA and net income declined compared to the previous quarter and the prior year period, while EBITDA margins decreased. The company continues to focus on increasing productivity and efficiency to offset cost pressures.
This document summarizes PPG Industries' first quarter 2008 financial results. It reported record sales driven by acquisition growth and solid organic volume growth despite difficult economic conditions. Segment earnings grew 17% year-over-year. All business segments experienced sales growth with the exception of the Architectural Coatings EMEA segment, which saw low-to-mid single digit growth. PPG expects key challenges in 2008 to include energy and raw materials costs.
JBS reported its first quarter 2009 results. Net revenue increased 58.2% year-over-year to R$9.27 billion. Consolidated EBITDA grew 20.4% to R$211.5 million. Key highlights included sustained margins in the US beef business, improved performance in Brazil, and consolidation of a global production and distribution platform. Management remains focused on reducing debt and capturing synergies across the business.
2007 - 7th Annual U.S. Analyst Airline Market Overview Commecial AviationEmbraer RI
The document provides an overview of the airline market from the perspective of aircraft in the 30-120 seat segment. It discusses trends in the industry including increased low-cost carrier competition, higher fuel prices, and efforts by airlines to reduce costs. Opportunities for regional jets include replacing aging fleets in China, Russia, and other growing markets. The E-Jets family from Embraer is positioned as helping airlines improve efficiency through right-sizing aircraft on routes.
Energias do Brasil reported strong financial results in 1Q08, with net income increasing 28.3% over 1Q07. The generation segment drove growth with an 86.3% increase in EBITDA. Commercialization also contributed significantly with a 165.5% increase in EBITDA due to high short-term prices. Manageable expenses remained stable despite inflation, while net financial expenses decreased 34.2% due to improved foreign exchange results. The company has low leverage, an extended debt maturity profile, and minimal currency exposure positioning it well for continued growth.
Wedding Industry Best Practices Survey PresentationWendy Dahl
Presentation given by Wendy Dahl at The Special Event 2011 during the session "Who Moved My Brides?". It reviews the wedding industry as a whole, how it reacted to the changing economy and how professionals stayed in business. To make the information useful, strategies and resources to put the statistics into action were included.
Venture-backed IPO activity continued to increase in the second quarter of 2007, with 26 companies raising $4.27 billion compared to 19 companies raising $2 billion in the same quarter of 2006. However, venture-backed merger and acquisition activity declined, with 67 deals in the second quarter of 2007 versus 95 deals in the second quarter of 2006. The technology sector saw the most IPO and M&A activity. Boston and San Jose were the metro regions with the most venture-backed IPO exits.
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key elements include increasing domestic oil and gas production, with targets of 5.4 million boe/day by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost local content of supplies to around 70% and focuses investment on infrastructure, logistics and the domestic value chain in Brazil.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris that provides environmental services. At an investor day in October 2008, Veolia discussed three main levers for value creation: 1) operating financial assets based on secure contractual forms, 2) assets invested based on consistent profitability targets of WACC + 3%, and 3) a historic base that generates recurring cash flow that is 85% from Europe and benefits from high visibility. Veolia also reviewed its strong organic growth, balanced geographical contribution from Europe, and operations in regions with high profitability. Examples demonstrated contract renewal rates, returns on operating financial assets, and value creation through a project in Poland.
Roddy Child-Villiers, Head of Investor Relations, presented Nestle's 2008 9-month sales results. Key highlights included organic growth of 8.9% for the group and food & beverage division, comfortably above the long-term target. Emerging markets achieved 16.8% organic growth. The financial position remained strong with a high credit rating and predictable cash flows. The outlook for full-year organic growth was improved to around 8%.
This document summarizes Braskem's 4Q07 earnings conference call. It discusses:
1) Braskem's consolidation of the Brazilian petrochemical industry through acquisitions in 2007 and its investment agreement with Petrobras.
2) Braskem's record resins production and sales in 2007, as well as its financial performance including an 11% increase in net revenue and 5% increase in EBITDA.
3) Braskem's priorities for 2008 including the startup of new operations in Paulinia, progress on growth projects in Venezuela, and extending its debt maturity profile.
Braskem reported strong financial results for 2007. Net income before minority interest reached nearly R$1 billion, up 70% from 2006. Braskem also achieved record resins production and sales in 2007. For 2008, Braskem expects continued growth in the Brazilian resins market and further reductions in fixed costs. Braskem will start up operations at its new Petroquímica Paulínia facility and continue developing growth projects in Venezuela. The company also plans to realize synergies from recent acquisitions and further establish itself as a leading global petrochemical company.
This document provides an overview of Chevron Corporation. It summarizes Chevron's strong financial performance in 2007, including record earnings of $18.7 billion and total shareholder return of 30.5%. It also discusses Chevron's strategies for addressing the challenges of growing global energy demand, constrained supply, and geopolitical dynamics by focusing on growth areas in Asia Pacific through its leading project queue and exploration successes. Chevron's strategies are to develop integrated positions in upstream, gas, and downstream with a focus on cost management, capital stewardship, safety, and reliability.
Ideiasnet reported financial results for 4Q08 and full year 2008. 4Q08 gross revenue grew 9.8% and net revenue grew 11.7% over 4Q07. EBITDA grew 95.2% in 4Q08 and 33% for the full year. Net income declined 42% in 4Q08 and 63% for the full year due to negative foreign exchange impacts. The portfolio companies Officer, Softcorp, and Spring Wireless saw revenue and EBITDA growth in 4Q08 and 2008, while Padtec and iMusica experienced strong revenue growth.
Hera achieved a double digit growth rate of 17% in EBITDA for the first 9 months of 2008. This growth was driven by internal factors like tariff increases in water and waste businesses, contributions from new plants, and normalized weather conditions boosting gas sales. Results were also supported by M&A activity integrating acquired companies. Overall, positive results across all core business lines demonstrated the company's resilient structure in the current macroeconomic environment.
fifth third bancorp 2Q08PortfolioStratificationsRfinance28
This document provides loan and lease stratification data for the second quarter of 2008. It includes breakdowns of non-performing assets, 90+ day delinquencies, and year-to-date net charge-off ratios by loan-to-value ratios and credit scores for various consumer loan and lease categories, including brokered home equity loans, direct home equity loans, first and second liens, and home equity lines of credit. The data shows that higher loan-to-value ratio loans and lower credit score loans typically have higher non-performing asset and delinquency rates as well as higher net charge-off ratios.
fifth third bancorp 2Q08PortfolioStratificationsRfinance28
This document provides loan and lease stratification data for the second quarter of 2008. It shows percentages of total loans and non-performing asset (NPA) and 90+ day delinquency ratios for various loan categories, including brokered home equity loans, direct home equity loans, and credit scores. The highest delinquency ratios were seen in loans with combined loan-to-value ratios over 95% and credit scores under 660.
fifth third bancorp3Q 08 Credit Strats FINALfinance28
The document provides loan and lease stratification data for the third quarter of 2008. It breaks down the portfolio by product type, geographic region, loan-to-value ratios, non-performing assets, and year-to-date net charge-off ratios. Some of the key figures shown include brokered home equity loans making up 3% of the total portfolio, with Florida having the highest non-performing asset and net charge-off ratios. Retail direct home equity loans made up 9% of the portfolio, with the highest non-performing asset ratios occurring in loans above 95% loan-to-value. Credit quality was lowest for loans to borrowers with credit scores below 660.
The document provides an overview of TIM's financial and operational performance in Q2 2010. Key points include:
1) TIM grew its customer base by 17% year-over-year to 44.4 million lines. Minutes of use and revenues increased, driven by growth in post-paid customers and VAS revenues.
2) ARPU and profitability improved due to a shift in revenues from incoming to outgoing voice and VAS. Interconnection costs declined as incoming traffic decreased.
3) Network quality and customer satisfaction scores improved, strengthening TIM's competitive position. The company aims to further growth through innovation and benefits for existing customers in H2 2010.
First Quarter 2009 Results
- Hera reported positive growth in Q1 2009, with revenues increasing 28.1% due to higher electricity sales volumes and tariff increases.
- EBITDA grew 8% to €166.6 million, supported by synergies, organic growth from tariff progression and market expansion, and contributions from new plants.
- The waste business expanded volumes 8.3% but EBITDA fell 5.4% as special waste volumes declined 9.8% with the economic slowdown and recycled product prices fell.
George Buckley outlines 3M's strategy for sustainable growth. He discusses leveraging operational excellence through productivity initiatives to maximize profitability. 3M will focus on growing its core businesses, pursue complementary acquisitions, and develop new business opportunities through emerging business opportunities. The strategy aims to achieve 5-8% annual organic growth through international expansion, new markets, and customer value enhancement.
Energias do Brasil reported its third quarter 2007 earnings results in a conference call. The company's CEO, CFO, and investor relations officer presented operating and financial performance for the quarter. Energias do Brasil saw growth in energy distributed and volume sold, while facing challenges from rising costs and expenses. Overall, the company reported higher revenues but lower EBITDA compared to the previous year.
HMS Group 9 months 2011 results presentationHMS Group
HMS Group reported financial results for the first nine months of 2011, with revenue increasing 27.2% year-over-year to 20.56 billion rubles. EBITDA grew 95.4% to 4.4 billion rubles, while net income increased 182.6% to 2.97 billion rubles. The pumps segment performed strongly due to project execution and standard pump sales, however the oil and gas equipment segment struggled from a lack of integrated solution orders. Overall results were positively impacted by growth in the pumps business, while challenges in oil and gas equipment were expected to improve in the coming quarters.
The document summarizes Walgreens' third quarter 2008 conference call. It discusses Walgreens' record sales and earnings in Q3 2008, additions to senior management, and the company's strategies to broaden access to healthcare services while driving growth. Key highlights include strong prescription sales, cost control of selling and administrative expenses, and plans to expand into specialty pharmacy and worksite health clinics.
1) The document discusses 3M's strategy for growth through customer value enhancement, continued commitment to operational excellence, and plans to drive higher earnings.
2) 3M aims to grow its core business, pursue complementary acquisitions, build new businesses through adjacencies and emerging business opportunities, and focus on international growth.
3) Near term actions to drive growth include capital investments in core manufacturing capacity expansions, 2006 acquisitions mostly of small companies, and a manufacturing strategy focused on strategic needs in the core or near adjacencies through bolt-on acquisitions.
1) The document discusses a presentation given at Citi's 23rd Annual Transportation Conference in November 2008.
2) It provides an overview of CSX's current financial performance and outlook, noting that while volume has declined, pricing momentum and productivity initiatives have helped sustain earnings growth.
3) It acknowledges economic headwinds but expresses confidence that CSX's diverse business portfolio and focus on operational excellence will allow it to continue generating strong free cash flow through the downturn.
Similar to Presidente Jose Sergio Gabrielli de Azevedo. Apresentação durante o evento Nor-Shipping, Oslo. (20)
Strategic Plan 2040 || Business and Management Plan 2019-2023Petrobras
The presentation contains forward-looking statements about future events that are not based on historical facts and are not assurances of future results. Such statements merely reflect the Company’s current views and estimates of future economic circumstances, industry conditions, company performance and financial results. Readers are cautioned that these statements are only projections and may differ materially from actual future results or events. The document also contains certain financial measures that are not recognized under Brazilian GAAP or IFRS and may not be comparable to similarly-titled measures provided by other companies.
Plano Estratégico 2040 || Plano de Negócios e Gestão 2019-2023Petrobras
Este documento descreve a jornada da companhia até o momento, suas ambições para o futuro e os planos para alcançá-las. A companhia busca reduzir custos, dívida e riscos, enquanto aumenta a produção, rentabilidade e investimentos em novas áreas, como renováveis. Seus principais objetivos incluem reduzir acidentes, dívida e aumentar retorno sobre capital empregado.
Petrobras provides an overview and highlights of its operations in the first half of 2018. Key points include a net income of $17 billion, an 18% increase in operating income, and starting production from the first system in the Transfer of Rights area of the Buzios field. Petrobras also anticipates increasing production through 2022 by starting up 19 new production units and expanding its exploratory portfolio by 31% since 2017. The company aims to reduce debt levels through divestments and maintain its 2018-2022 capex at $74.5 billion, focusing investments on pre-salt areas and projects with higher profitability.
Apresentação Investor Day, São Paulo, 2018Petrobras
O documento apresenta as informações da reunião anual com investidores da Petrobras em 2018. Nele, o presidente da Petrobras discute os principais destaques da companhia no ano, incluindo a redução da dívida líquida, aumento do fluxo de caixa livre e entrega consistente das metas de produção. Além disso, o documento aborda a melhoria da governança corporativa e da gestão de riscos da Petrobras.
- Petrobras held its annual investor day in 2018 to discuss the company's performance and future plans
- The CEO highlighted improvements in safety, debt reduction, cash generation, governance, and exploration successes in recent years
- Executives provided details on ongoing debt management initiatives, production increases, cost savings, and new deepwater project startups
- The company aims to further strengthen its financial position while preparing for a low-carbon future through technology investments and portfolio optimization
O documento fornece informações sobre as atividades e desempenho da Petrobras em 2017, incluindo sua transição para uma economia de baixo carbono, transformação digital, desempenho operacional e financeiro, segurança e saúde dos trabalhadores, e contribuições para a sociedade e meio ambiente. A mensagem do presidente destaca os compromissos da empresa com a sustentabilidade, como investimentos em novas tecnologias de baixo carbono e redução de emissões.
FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements about future events within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended, that are not based on historical facts and are not assurances of future results. Such forward-looking statements merely reflect the Company’s current views and estimates of future economic
circumstances, industry conditions, company performance and
financial results. Such terms as "anticipate", "believe", "expect",
"forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forward-looking statements. Readers are cautioned that these statements are only projections and may differ materially from
actual future results or events. Readers are referred to the documents filed by the Company with the SEC, specifically the Company’s most recent Annual Report on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements,
including, among other things, risks relating to general economic
and business conditions, including crude oil and other commodity prices, refining margins and prevailing exchange rates, uncertainties inherent in making estimates of our oil and
gas reserves including recently discovered oil and gas reserves,
international and Brazilian political, economic and social developments, receipt of governmental approvals and licenses and our ability to obtain financing.
Este documento descreve:
1) As previsões contidas na apresentação envolvem riscos e incertezas e não são garantias de resultados futuros.
2) A companhia não se obriga a atualizar previsões com novas informações.
3) Alguns indicadores financeiros não são reconhecidos pelo BR GAAP ou IFRS e não devem ser usados isoladamente.
Apresentação de Pedro Parente no Investor Day Nova YorkPetrobras
Petrobras CEO Pedro Parente presented at an event in New York on October 2, 2017. The presentation included disclaimers about forward-looking statements and non-SEC compliant reserves data. It discussed Petrobras' strengths in deepwater production, integrated operations across Brazil's energy industry, and ongoing work to improve governance, reduce costs and leverage through partnerships and divestments. The Business Plan aims to lower leverage, reduce injury rates, focus capital expenditures, and lower production costs.
Apresentação de Pedro Parente no Investor Day LondresPetrobras
1. The document contains a disclaimer stating that any forward-looking statements are based on estimates and are subject to risks and uncertainties.
2. It then outlines an agenda for a Petrobras Day presentation, including discussing Petrobras at a glance, the oil and gas industry, Brazil's regulatory framework, Petrobras' strengths, recent results, and future planning.
3. The document provides several cautions about non-SEC compliant data and financial measures included in the presentation.
Apresentação de Pedro Parente no Investor Day São PauloPetrobras
1) O documento apresenta avisos sobre previsões e estimativas contidas no material.
2) É informado que termos como "descobertas" não podem ser usados nos relatórios arquivados da companhia segundo as diretrizes da SEC.
3) Há um aviso para investidores norte-americanos sobre indicadores financeiros não reconhecidos pelo BR GAAP ou IFRS.
Este documento apresenta o plano estratégico e de negócios da Petrobras para 2017-2021. O plano visa reduzir custos operacionais em 18% e a dívida líquida da empresa através de parcerias e desinvestimentos. O plano também prevê aumentar a produção de petróleo e gás natural por meio de novos projetos de exploração e produção, principalmente no pré-sal.
Petrobras presents its Strategic Plan for 2017-2021 which focuses on oil and gas production. Key goals include reducing total recordable injury rate by 36% and reducing leverage (net debt to EBITDA ratio) to 1.4 by 2018. The plan prioritizes cost reductions through operational efficiencies, partnerships and divestments. Planned investments total $74.1 billion, with 81% directed towards exploration and production. The plan expects to increase oil and gas production to 3.34 million boe/day by 2021 through development of pre-salt and post-salt assets. Financial measures aim to fund investments without taking on additional net debt over the period.
Strategic Plan and 2017-2021 Business & Management PlanPetrobras
This document outlines Petrobras' strategic plan for 2017-2021. It discusses where the company is currently, with high debt levels and operating costs, and where it wants to be - an integrated energy company focused on oil and gas. The plan details how Petrobras will get there through initiatives like cost reductions, partnerships and divestments, and lower capital expenditures. It establishes metrics to measure success in areas like safety, financial leverage, and production levels. The strategies discussed include optimizing the exploration and production portfolio, increasing efficiency in deepwater production, and strengthening refining and natural gas operations.
Plano Estratégico e Plano de Negócios e Gestão 2017-2021Petrobras
Este documento apresenta o Plano Estratégico e de Negócios da empresa para o período de 2017-2021, com o objetivo de guiar a empresa rumo à sua visão de longo prazo. O plano descreve onde a empresa está atualmente, enfrentando desafios como endividamento e preços baixos de petróleo, e onde deseja chegar, com métricas focadas em segurança e redução da alavancagem. O plano também explica como a empresa pretende alcançar seus objetivos por meio de iniciativas de redução de custos, par
O Conselho de Administração da Petrobras aprovou o Plano de Negócios e Gestão 2015-2019, com objetivos de desalavancagem da companhia e geração de valor para acionistas. O plano prevê reduzir a alavancagem líquida para menos de 40% até 2018 e 35% até 2020, com desinvestimentos de US$ 15,1 bilhões em 2015-2016 e US$ 42,6 bilhões em 2017-2018. A produção total esperada é de 3,7 milhões de barris de óleo equivalente por dia em 2020, com o pré
1) A Petrobras divulgou seus resultados do primeiro trimestre de 2016, apresentando prejuízo líquido de R$ 1,2 bilhão.
2) Os resultados foram impactados negativamente pela queda nos preços do petróleo e câmbio desfavorável.
3) A produção total de petróleo e gás natural da Petrobras no Brasil e no exterior caiu 1% em relação ao trimestre anterior.
The document summarizes Petrobras' 1st quarter 2016 results. Net income decreased 123% to a loss of R$1.2 billion due to lower oil prices, weaker demand, and higher financial expenses. Oil and gas production declined 6% to 2.6 million boed. Lifting costs fell 21% in Brazil and 37% abroad. Refining costs decreased slightly. Downstream sales volumes declined 5-8% while refining utilization remained stable. Cash flow from operations fell 2% to US$6 billion. Investments declined 13% to R$15.6 billion.
Presidente Jose Sergio Gabrielli de Azevedo. Apresentação durante o evento Nor-Shipping, Oslo.
1. French Institute of Petroleum
CEO
JOSÉ SÉRGIO GABRIELLI DE AZEVEDO
May 23rd, 2011
FRANCE
1
2. DISCLAIMER
FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements about future We undertake no obligation to publicly update or revise any
events within the meaning of Section 27A of the Securities Act of 1933, as forward-looking statements, whether as a result of new
amended, and Section 21E of the Securities Exchange Act of 1934, as information or future events or for any other reason. Figures
amended, that are not based on historical facts and are not assurances of for 2010 on are estimates or targets.
future results. Such forward-looking statements merely reflect the
Company’s current views and estimates of future economic circumstances,
industry conditions, company performance and financial results. Such All forward-looking statements are expressly qualified in their
terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", entirety by this cautionary statement, and you should not
"project", "seek", "should", along with similar or analogous expressions, are place reliance on any forward-looking statement contained in
used to identify such forward-looking statements. Readers are cautioned this presentation.
that these statements are only projections and may differ materially from
actual future results or events. Readers are referred to the documents
filed by the Company with the SEC, specifically the Company’s most NON-SEC COMPLIANT OIL AND GAS RESERVES:
recent Annual Report on Form 20-F, which identify important risk factors
that could cause actual results to differ from those contained in the CAUTIONARY STATEMENT FOR US INVESTORS
forward-looking statements, including, among other things, risks relating to We present certain data in this presentation, such as oil and
general economic and business conditions, including crude oil and other gas resources, that we are not permitted to present in
commodity prices, refining margins and prevailing exchange rates, documents filed with the United States Securities and
uncertainties inherent in making estimates of our oil and gas reserves Exchange Commission (SEC) under new Subpart 1200 to
including recently discovered oil and gas reserves, international and Regulation S-K because such terms do not qualify as proved,
Brazilian political, economic and social developments, receipt of probable or possible reserves under Rule 4-10(a) of
governmental approvals and licenses and our ability to obtain financing. Regulation S-X.
3. PRIMARY DEMAND FOR ENERGY – BREAKDOWN BY FUEL (MM TOE)
16.882 Average Annual Growth (% p.y.)
16.590 Business as Sustainable
9% 1,3% Usual Development
2,2% 10% Traditional +1,0% +1,4%
1,4% 3% 1% Biomass
6% 3,5%
1,3%
3% Other
12.271 Renewable* +6,4% +8,5%
7%
9%
0,7% 28% Biofuels +5,8% +7,2%
2% 0,4%
6% 25%
Hidro
+2,0% +2,4%
27%
Nuclear +1,2% +1,9%
22%
22%
21% Coal
+1,6% +0,9%
Gas
+1,5% +1,6%
30% 29%
33%
Oil +0,96% +0,72%
2008 Business as
2007 2030 Sustainable
2030
Usual Development
• Loss of oil relative participation in primary energy demand
•Wind, Solar (PV e CSP), Geothermal, Marine (Tide and Wave) • Significant growth of biofuels and other renewable, driven by
•Source: 2008 – IEA ; 2030 –Petrobras’ Scenarios
technological advances
• Low gas prices may result in higher gas participation over time
3
4. ACCORDING TO MOST OF THE INSTITUTIONS, NATURAL GAS WILL PLAY AN IMPORTANT
ROLE FILLING THE GAP LEFT BY THE CURRENT OFFLINE NUCLEAR CAPACITY
Possible outcomes to the mix of fossil energy that will substitute offline nuclear capacity
WoodMackensie Societé Générale Barclays Capital Credit Suisse PIRA
Onagawa; Coal; 14% Coal; 11% Coal; 10%
2.174 Coal; 20% Coal; 20%
Natural Gas;
20%
Natural Gas;
Fukushima Natural Gas; 39%
Daiishi; 4.696 Natural Gas; 47%
40% Natural Gas;
50%
Oil Products;
Fukushina 70%
Daini; 4.400 Oil Products;
Oil Products, Oil Products; 50%
40% 39% Oil Products,
Tokai Daini; 30%
1.100
Offline Nuclear Capacity (MW) Substituição
Substitution Substitution
Substituição Substitution
Substituição Substitution
Substituição Substitution
Substituição
81500 Gw/h – 75%
Japanese spot LNG prices lower than oil in an energy equivalent basis
Natural gas import infrastructure not much affected and already operating with
significant spare capacity
40 regasification terminals and a big storage capacity (35 day of demand)
Assumptions: It is expected that coal plants will be restored to full capacity. Capacity Factor: 75% nuclear; time horizon 12 months
Source: GE-MC/MKT/PREÇOS e GE-MC/SGN/CGNL
4
5. ALTHOUGH THERE IS AN ONGOING TRANSITION ON DEMAND GROWTH DYNAMICS,
OECD MEMBERS STILL ARE THE BIGGEST OIL‐CONSUMING COUNTRIES
10%
Saudi Arabia
8%
China
6%
Annual Oil Demand Growth,
Brazil India
2005‐2010 (%)
4%
Iran
Russia
2%
Canada
France Annual GDP Growth,
Mexico Korea
2005‐2010 (%)
0%
‐2% 0% 2% 4% 6% 8% 10% 12%
USA
‐2%
United
Kingdom Germany
Spain
‐4%
Italy Biggest Oil‐Consuming Countries – 2010
Japan
‐6%
Source: PIRA Note: each circle represents the relative size of each country’s oil demand. 5
6. THE REGION HOLDS SUFFICIENT NATURAL RESOURCES TO THE SUSTAINABLE
PRODUCTION OF FOOD AND BIOFUELS
Main Biofuels Producers and Government Programs Brazil ‐ Production (billion liters)
Biodiesel 28
28
Mexico and Caribbean Ethanol
26
Production (billion liters)
0.4 0.5 0.6
Costa Rica‐ max E8; B2 23
2008 2009 2010 Panama E10
Colombia
Ecuador 18
B2,5; E10 E8, B8
Colombia ‐ Production
(billion liters) Peru – B2 Brazil B5;
2011‐ B5; E7‐E8
E20
0.3 0.3 0.4 Bolivia – B2,5
0.2
2015‐ B20
2008 2009 2010
Argentina
2010 ‐ B7; E3
Argentina ‐ Production (billion liters) 2011/ 2012‐ B10; E5
Paraguay
2.2 B5; E18‐E24
0.8 1.4 0.3 Uruguay
0.4
2012: B5
2010 2015: E5 1.6 2.4
2007 2008 2009 1.2
0.4
Chile – B2‐B5
2006 2007 2008 2009 2010
E2‐E5
• Biofuels industry contributes to the rural sector development and
to employment generation;
• In Brazil, agro‐ecological zones delimit the areas for soy, cane,
and palm. From the 7% of feasible and authorized area available
to the production of cane in Brazil, only 1% is used.
Source: consolidated data based on various sources (ADP Renewables, ÚNICA, ANP and others)
6
7. ASIA, LATIN AMERICA AND MIDDLE EAST HAVE THE LARGEST PROJECTS OF NEW
REFINERIES AND CAPACITY EXPANSIONS
Refining Capacity additions (2011‐2016)
(Totals in kbpd)
4000
3500 New Refineries
3.204
3000 Expansions
2500
2000
1.997
1.755
1500
1000
736 703
500 437
153
0
Asia Middle East North Latin America Europe Former Soviet Africa
America Union
• The new refineries have large scale, high complexity and are fully prepared to process heavy crudes. Most of them
are focused in maximizing low sulfur distillates, objective achieved through the use of delayed coking and
hydrocracking units.
Source: Pira, Petrobras, 2011 7
8. ALTHOUGH THE MAIN EXPECTED REFINING PROJECTS IN THE WORLD ARE EXPORT‐
ORIENTED, IN LATIN AMERICA AND IN ASIA, THE LARGEST PROJECTS ARE ORIENTED
TO THE DOMESTIC MARKET.
Main capacity expansion projects in the world 2011‐2016 (kbpd)
North America Russia and Europe
400 Asia
180 325 180 200
140 300
75 200
2011 2012 2013 2011 2014 2016
PBF Energy Shell & Valero Tatneft Rosneft Turcas &
Aramco Socar
2012/16 2014 2015
Petrochina IndianOil Petro
Vietnam
Middle East
Latin America 375 400
580 300
Africa
178 182 110
20
2013 2014 2015
2012 2016
2013/14/ Aramco & Iran Oil Aramco &
2013/14 2013/15 Petrochina Sonangol Total Sinopec
15
Ecopetrol PDVSA
Petrobras
Project Starting Year
Source: Pira, Petrobras, 2011 8
10. FSU STAYS AS A MAJOR EXPORTER OF DIESEL AND FUEL OIL.
NON‐CHINESE ASIA INCREASES ITS IMPORTS OF OIL PRODUCTS.
150
720 300
50 10 320
140 100 240
30
370 230
540 5
10
40
30 200 65 10 100
20 130 140 80
60 60 10
110 250
70 170
60
130 200
130
Main Products' Net Exports/(Imports)
kBPD
1600 110 160
1200
800
200
400
Major world oil product
0
-400 Gasoline Diesel/Gasoil Jet Fuel Oil flows (MMBpd - 2009)
-800
-1200
USA and Latin Europe Middle Africa FSU China Asia
Canada America East (without
China)
2010 2020 Source: PIRA (Maps). PETROBRAS (Graphs) 10
11. WITH NEW REFINING IN ASIA, LONG‐HAUL* CRUDE ROUTES BECOME MORE RELEVANT
TOWARDS THE EAST, BUT LONG‐HAUL ROUTES FOR PRODUCTS MAY WEAKEN
• Tonne miles more than tripled to China, while seaborne
imports just doubled. Its fast growth demanded fast
diversification of sources from even more distant
places.
• China’s strong imports also pressure other Asian
countries to diversify their imports.
• India also demands new sources, diversifying imports
to further regions, such as West Africa.
• New refining in Asia/Pacific implies in less needs of
long‐haul imports of products, but some long‐haul
exports may remain, from India and Arabian Gulf to
Million DWT
Europe or to the US. 500
Estimated Tanker Demand
400
Vessels above
300
200,000 dwt
200
Vessels under
100 200,000 dwt
0
2010 2011 2012 2013 2014 2015
* Long‐haul = more than 5,000 Nautical Miles
11
• Clarkson Research, February 2011
12. THE INDIAN OCEAN IS EVER MORE CRITICAL TO OIL AND PRODUCTS SHIPPING
There are strategic risks in the strait of malacca and piracy in the gulf of aden
China plans to reduce its dependency on the Malacca Strait, but volumes shipped through the
strait will remain high
• Myanmar oil pipeline
(2013/2014): 440
kbpd
• Kazakhstan‐China oil
pipeline (2013): 400
kbpd
• Russia‐China oil
pipeline (Present: 300
kbpd; expansion by
2015: 600 kbpd)
• Total from pipeline
options: 1440 kbpd,
are only 23% of
expected imports
from China (2015) –
6400 kbpd (IEA
2010)
Map: Current and future routes for China´s oil and natural gas imports (IEA 2011)
12
13. WORLD DEMAND FOR OIL
GLOBAL LIQUIDS DEMAND
120
Scenario: Business as Usual
10
1 Capacity addition
required
100
2020 43 48 MM bpd
90 Scenario: Sustainable
Development
2030 65 78 MM bpd
80
Challenges of
70 Existing production supply • Incorporation of new
discoveries
(Em MM bpd)
60
50 Project decline in • Alternatives energy
the production source
40
30 • Increase of energy
efficiency
20
2000 2005 2010 2015 2020 2025 2030 •increases to Oil in Place or
recovery factor
o Perspectives: investments in oil production will be necessary
Source: IEA World Energy Outlook 2010, EIA International Energy Outlook 2010 13
14. INTEGRATED VALUE CHAIN
Business Plan 2010‐2014
US$ 224.1 Bn Opportunities:
2%1%2%1% Economic Growth
8% Internacional Geopolitical stability
E&P 5%
RTM Hydrocarbon potential
G&P
Biofuels
Petroquímica
Challenges:
Marketing 53%
Critical resources (goods and
Biofuels 33%
Corporative Brasil
services, human resources)
95%
Financing
Energy Integration
Our main lines: Key Statistics and market position (2010)
Exploration and RTM (incl.
Retail Gas and Power International Biofuels
Production Petrochemicals)
• 15.3 Bn boe of • 12 refineries • 7,306 service • 14,246 km of • 25 countries • 3 new biodiesel
1P(SPE) stations pipelines • 0.7 Bn boe of 1P(SPE) plants
• 2.0 mm bbl/d • 245 mil boed of
• 2.3 mm boed •38.8% market share •Participation in 20 of • Ethanol: new
refining capacity production
production 27 discos of gas in markets
• 11.2 mm t/y Brazil • 281 mil bbl/d refining
•98.5% of brazilian • Responsible for
capacity
production nominal • 5,944 MW of 10% of brazilian
petrochemical Electricity Generation •Petrochemical, Gas ethanol exports.
• 20% of deepwater
capacity2) and Power activities
production capacity
Note: (1) Includes Corporative and Elimination; (2) Through Braskem and Quattor 14
15. GROWING PRODUCTION FULLY SUPPORTED BY DISCOVERIES
Petrobras Total Production (000 b/d) 5,382
R
CAG
4.5% p.y. 7.6%
120
3,907 203
1. 109
128
2,217 2,583 176
1,809 101
623
96 144
22 163
35 334
2 5 2 274
2,980 3,950
1. 5 0 0 1. 6 8 4 2.004 Pre‐Salt 1,078
241
2002 2005 2010
... 2014
... 2020
Oil Production - Brazil Gas Production - Brazil Oil Production - International Gas Production - International
Petrobras Total Reserves (bln boe) ‐ SPE Criteria
5,000
Higher
• 18th consecutive years of fully replacing Estimates
the production (229% in 2010) 9,600
• R/P ratio 18.4 years (SPE Criteria) Lower estimates
8,100 29,000‐31,000
14,913 15,986
12,131
Proven Reserves 2002 Proven Reserves 2005 Proven Reserves 2010 Potential Recoverable (Lula, Transfer of Rights Total Resource Base
Cernambi, Iara, Guará and
Whales Park)
15
16. TRENDS IN LATIN AMERICA OIL PRODUCTION REFLECT THE BUSINESS
ENVIRONMENT IN EACH COUNTRY
4.0 Latin American Oil Production 6.0
Latin American Gas Production
3.5
5.0
3.0 Arg.
Arg.
Brazil 4.0
2.5
Bolivia
MMb/d
Colo.
Bcf/d
2.0 Brazil
Ecu. 3.0
Peru Colo.
1.5
Trin. 2.0 Trin.
1.0
Ven. Ven.
0.5 Mex. 1.0 Mex.
0.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
0.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Source: BP 2010 Statistical Review Source: BP 2010 Statistical Review
16
18. PRE-SALT SUSTAINABILITY
Ex: Commitment to give Local
content
environmental friendly destination
to the carbon dioxide produced
More equipment
from Pre‐Salt reservoirs, ... Expanded
availability
supply capacity
Increased
flexibility New suppliers
Environmental
Lower prices
Financial Ex:
• Lula Pilot breakeven in the US$ 35‐
45/bbl oil price range.
• Consortia sactioned procurement
of 13 FPSOs
Social
Strengthen Brazilian Create jobs and Reinforce internal
economy income market
18
19. TECHNOLOGICAL CHALLENGES
Subsea Reservoir
• Definition of large reservoir facies variations and fluid
• Qualification of flexible risers for water depth of 2,200m contacts from seismic data
(7,218 ft), considering CO2 and high pressure
• Internal reservoir characterization, with focus on the
• Qualification of flexible flowlines for high pressure gas • heterogeneities that impact fluid flow
Injection (about 8,000 psi)
• Secondary recovery: technical feasibility of water injection,
• Wax deposition in long pipelines • WAG‐HC and WAG‐CO2
• Feasibility of 4D seismics under the recovery methods
• Scaling control
• Rock‐fluids interactions: impact on the potential of scale
• Temperature management along the subsea lines • precipitation, on geomechanics of the surrounding rocks
• Installation and operation of uncoupled rigid risers • Avoid flow concentration in high permeability layers
• Improvement of the waterflood performance in mixed wet
• Operation of satellite WAG injection wells (avoid hydrate • carbonates
formation)
• Efficient control of inorganic scaling
FPUs Drilling and Completion
• Construction of high angle wells, deviated into the salt
zone
• Mooring in water depths of 2,200 m
• Definition of the best strategy of well stimulation
• Interaction with the riser´s system
• Quality of cement jobs and resistance to CO2
• Scenario for platforms with direct access to the wells (SPAR, • Well integrity
FPDSO)
• Penetration rate in the microbial carbonate reservoir
• CO2 separation facilities; compression, compression for
reinjection • Performance of intelligent completion
• Plant modularization for deck space/cargo optimization • New alloys to reduce costs of well materials
• Standardization of most systems in the FPSO • New procedures to reduce well drilling and completion
• duration
• Performance improvement of the new rigs
19
20. BRAZILIAN DEMAND AND REFINING CAPACITY
COMPERJ COMPERJ
(1º trem) (2º trem)
165 mil bpd 165 mil bpd
(Set-2013) (Jan-2018)
Mil bpd Refinaria
Abreu e Lima PREMIUM I
PREMIUM II
(1ª trem)
(RNE) 300 mil bpd
5.000 300 mil bpd
(Dez-2017)
230 mil bpd (Out-2014)
(Dez-2012)
PREMIUM I
(2ª trem)
4.000 300 mil bpd
(Dez-2016)
3.000
4.910
2.000
3.224
3.197
3.070
2.479
2.493
2.208
2.147
2.110
2.004
1.971
1.933
1.811
1.792
1.798
1.000
0
2009 (*) 2010 (*) 2011 2015 2020
Oil Production Throughput Oil Production Demand
(*) Dados do realizado para 2009 e 2010. 20
21. BIOFUELS TARGETS AND INVESTMENTS 2010‐2014
Continued expansion and integration with oil products
Strategy
Act globally, on biofuels production, with relevant participation in biodiesel and ethanol bussiness
Ethanol Exports Production Capacity of
Ethanol Production Biodiesel in Brazil
2.600 747
1,055 +47%
%
3 % +135
Thous. m³/year
+19 507
449
886
2010 2014 2010 2014 2010 2014
ETHANOL
Ethanol
BIO DIESEL INVESTMENTS 2010‐2014:
US$ 3.5 Billion • Increase of Petrobras participation in Brazil's
0,7
ethanol industry and bioenergy; investments
focus on developing a new generation of
biofuels and cogeneration power:
0,4
2,0 • Acquisition of 45.7% of Guarani, the 4th
largest processor of sugar cane in the country,
0,4 and agreement to reach a stake of up to 49%;
Ethanol Biodiesel R&D Logistics • Acquisition of 40.4% of Usina Total;
• Strategic partnership with Grupo São
Martinho, creating a new company, called
Nova Fronteira (49% BR).
21
22. HUMAN RESOURCES PETROBRAS
Time in company (average): 14.6 years
Actions in HR
51% 46%
Strategic Remuneration
3%
Internal development and
external attraction
48% Leadership development
Age (average): 42 years
Knowledge Management
Date: February 2011 22
23. TECHNOLOGICAL DEVELOPMENT
50 THEMATIC NETWORKS WITH 80 INSTITUTIONS
ANP
Technical
CENPES Scientific
Partner Partner
(manager) Committee
institution 1 institution 5
Partner Partner
institution 2 Partner institution 4
MCT institution 3
FINEP
CNPq
RESEARCH - Physical and Human Infrastructure UNIVERSITIES
INSTITUTES - Human Resources Training
- R & D Projects
SUPPLIERS - Technology Services INCUBATORS
23
24. DEMANDS OF HUMAN RESOURCES ‐ BUSINESS PLAN 2010‐2014
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Business Plan 2008 – 2012
28 Drilling Rigs
146 Supply Boats
New Stationary Production Units
Promef II
Freight 19 vessels
Refinery Premium II
Refinery Premium I
Comperj and RNEST replanning
New projects
78.402
Qualified
Professionals 212.638
New Demands
BP 2010-14
24
25. PETROBRAS CHALLENGES
Capacity to execute a huge portfolio project
Strength and reliability of supply chain
Resource management and efficiency
Human Resources challenges
Funding requirements
25