The document is the results announcement for Petrobras' 3rd quarter 2009. It contains the following key points:
1. Petrobras saw an 8% increase in total production and a 5% rise in domestic oil production compared to the third quarter of 2008.
2. New production units are ramping up and expected to further increase output. Pre-salt activities are accelerating with ongoing exploration and appraisal wells.
3. Operating income was impacted by a provision for special participation tax related to the Marlim field, but net income was flat after adjusting for foreign exchange variations.
4. Exploration and production showed solid operating performance while downstream income normalized with increases in international prices. Gas and energy
The document summarizes Petrobras' 3rd quarter 2007 results. It reports that domestic oil and NGL production was slightly higher than the previous quarter despite expected growth being lower than planned due to scheduled stoppages and delays. It outlines major oil and gas production projects coming online in 4Q07 and 2008 that will contribute to Petrobras reaching its target of 2 million barrels per day of oil and NGL production by 2008. The document also provides an overview of refining capacity and domestic sales in Brazil.
Petrobras reported financial results for the third quarter of 2010. Net income increased 10% compared to the same period last year to R$8.566 billion. Domestic oil and gas production grew 2% while refinery output increased due to a plant restart. Investments totaled R$56.5 billion year-to-date, 11% higher than the first nine months of 2009. Average oil prices remained stable in Brazil despite declines in international markets.
The document summarizes Petrobras' 4th quarter 2007 results and 2007 annual results. Key points include a 14,000 bpd increase in domestic oil production year-over-year due to new production systems, a 1% decline in production from existing systems, and a 131.1% reserves replacement rate. Lifting costs increased in the 4th quarter due to currency effects and wage increases. Net income decreased from the prior quarter due to higher costs and operating expenses. Upcoming production units are also outlined.
- The company reported a 2% increase in oil production for 3Q08 compared to 2Q08 due to production growth from platforms P-52 and P-54.
- New production systems P-51, P-53 and the FPSO Cidade de Niterói are on schedule to start production in 1Q09, with first oil from P-51 in January 2009.
- The company has completed its minimum exploratory program in the pre-salt Santos Basin and is preparing for an extended well test of the Tupi field, which is on schedule.
Petrobras announced strong financial results for the 2nd quarter of 2009. Oil production increased 6% compared to the first half of 2008 due to new platform startups. Lifting costs remained stable in US dollars despite higher oil prices. Net income doubled compared to the first quarter due to higher oil prices and sales volumes as well as cost cutting efforts. Capex continued to grow significantly, supported by expanding access to development banks and the capital market.
Petrobras announced results for the 4th quarter and full year 2009. Key highlights include:
1) Petrobras replaced its Brazilian oil and natural gas production for the 17th consecutive year and increased its international reserves.
2) Brazilian oil and gas production increased 6% from 2008 due to new production units coming online. International production grew 6% as well.
3) Petrobras outlined its production targets for 2010 which will see further growth from new systems and enhanced oil recovery projects.
The document provides an overview of Petrobras' 4th quarter and full year 2011 results, highlighting a 16.41 billion barrel increase in proven oil reserves, a 2% increase in total oil and gas production to 2.62 million barrels per day, and investments of R$73 billion in 2011, 47% of which went to exploration and production activities. Petrobras also discussed its exploration successes in 2011, production outlook for 2012, and progress made in developing pre-salt fields in the Campos and Santos basins.
The document summarizes Petrobras' 3rd quarter 2007 results. It reports that domestic oil and NGL production was slightly higher than the previous quarter despite expected growth being lower than planned due to scheduled stoppages and delays. It outlines major oil and gas production projects coming online in 4Q07 and 2008 that will contribute to Petrobras reaching its target of 2 million barrels per day of oil and NGL production by 2008. The document also provides an overview of refining capacity and domestic sales in Brazil.
Petrobras reported financial results for the third quarter of 2010. Net income increased 10% compared to the same period last year to R$8.566 billion. Domestic oil and gas production grew 2% while refinery output increased due to a plant restart. Investments totaled R$56.5 billion year-to-date, 11% higher than the first nine months of 2009. Average oil prices remained stable in Brazil despite declines in international markets.
The document summarizes Petrobras' 4th quarter 2007 results and 2007 annual results. Key points include a 14,000 bpd increase in domestic oil production year-over-year due to new production systems, a 1% decline in production from existing systems, and a 131.1% reserves replacement rate. Lifting costs increased in the 4th quarter due to currency effects and wage increases. Net income decreased from the prior quarter due to higher costs and operating expenses. Upcoming production units are also outlined.
- The company reported a 2% increase in oil production for 3Q08 compared to 2Q08 due to production growth from platforms P-52 and P-54.
- New production systems P-51, P-53 and the FPSO Cidade de Niterói are on schedule to start production in 1Q09, with first oil from P-51 in January 2009.
- The company has completed its minimum exploratory program in the pre-salt Santos Basin and is preparing for an extended well test of the Tupi field, which is on schedule.
Petrobras announced strong financial results for the 2nd quarter of 2009. Oil production increased 6% compared to the first half of 2008 due to new platform startups. Lifting costs remained stable in US dollars despite higher oil prices. Net income doubled compared to the first quarter due to higher oil prices and sales volumes as well as cost cutting efforts. Capex continued to grow significantly, supported by expanding access to development banks and the capital market.
Petrobras announced results for the 4th quarter and full year 2009. Key highlights include:
1) Petrobras replaced its Brazilian oil and natural gas production for the 17th consecutive year and increased its international reserves.
2) Brazilian oil and gas production increased 6% from 2008 due to new production units coming online. International production grew 6% as well.
3) Petrobras outlined its production targets for 2010 which will see further growth from new systems and enhanced oil recovery projects.
The document provides an overview of Petrobras' 4th quarter and full year 2011 results, highlighting a 16.41 billion barrel increase in proven oil reserves, a 2% increase in total oil and gas production to 2.62 million barrels per day, and investments of R$73 billion in 2011, 47% of which went to exploration and production activities. Petrobras also discussed its exploration successes in 2011, production outlook for 2012, and progress made in developing pre-salt fields in the Campos and Santos basins.
This document provides an overview of Petrobras' 3rd quarter 2006 earnings conference call. It includes:
1) Domestic oil production increased 1.3% compared to the previous quarter due to new platform performances.
2) Lifting costs increased 8.5% due to higher transportation, seismic, and drilling expenses as well as initial operational costs for new fields.
3) Net income increased slightly to R$7.085 billion, with higher revenues offset by a change in how ANP calculates special participation costs in the Marlim field.
Petrobras reported financial results for the 3rd quarter of 2010. Net income increased 10% compared to the same period last year. Total investments so far in 2010 were 11% higher than the first nine months of 2009. Production grew 2% due to new production units starting up. The average realization price for oil remained stable in Brazil despite lower international prices. Domestic oil product sales increased 11% due to higher diesel and gasoline demand. Operating income decreased due to collective bargaining agreements and maintenance stoppages increasing costs.
Petrobras announced its second quarter 2010 results. Net income increased 7% to R$8.3 billion. New oil discoveries in the Campos Basin pre-salt are estimated to contain 500 million barrels of recoverable oil. Production is increasing with the start-up of new production units such as the FPSO Capixaba in Espírito Santo. Planned investments total $224 billion through 2014 according to the new business plan. Oil and gas production increased year-over-year due to contributions from new projects.
1) The results announcement reported a 5% increase in EBITDA and 4% increase in net income for the 1st quarter of 2010 compared to the 4th quarter of 2009.
2) Oil and natural gas liquids production reached a new monthly record in April 2010 of over 2 million barrels per day.
3) Capital expenditures for the quarter totaled over $17 billion and several new production units are expected to come online throughout 2010 and boost total production capacity.
4) Drilling continues in the pre-salt region with five appraisal wells and plans to lease the first floating production unit, indicating the huge potential of pre-salt reserves.
Webcast 4th Quarter and Fiscal Year 2008 Petrobras
The document summarizes Petrobras' 4th quarter and fiscal year 2008 results. Key points include:
- Oil and gas production levels decreased slightly in 4Q08 due to natural field declines and stoppages. New production systems helped offset declines.
- Prices and margins decreased significantly in 4Q08 compared to 3Q08 due to lower global oil prices.
- Exploration and Production results were affected by lower prices and impairment charges. Downstream was impacted by inventory holding losses.
- Cash flow from operations was positive despite lower earnings, helped by inventory reductions. Leverage increased due to debt and currency devaluation.
Petrobras announced its 4th quarter 2010 results. Key highlights included record oil production in Brazil of 2,256 thousand barrels per day in December 2010. International production increased 3% compared to 2009. Several new production systems and gas treatment units started up in 2010. Proven reserves totaled nearly 16 billion barrels of oil equivalent according to ANP criteria, with over 1 billion added from the Santos pre-salt area. Investments in 2010 were R$76.4 billion, up 8% from 2009.
This document provides a summary of PETROBRAS' 1st quarter 2006 earnings conference call. The summary includes:
- PETROBRAS' net income decreased 18% compared to the previous quarter due to higher tax payments.
- Domestic oil and NGL production increased 14% year-over-year due to new platform start-ups.
- Lifting costs increased 6% quarter-over-quarter mainly due to a 3% real appreciation and lower production volumes.
- Refining costs decreased 6% from the previous quarter due to fewer planned refinery stoppages.
Webcast about the 1st Quarter Results 2011 - IFRSPetrobras
Petrobras reported strong financial results for the 1st quarter of 2011, with record net income. Key highlights included the start-up of pre-salt production in the Campos and Santos Basins, new oil discoveries in the Santos Basin pre-salt area, and the start-up of new gas pipelines and refining units. Oil and gas production increased slightly compared to the prior year due to ramp-ups in existing fields and assets. In the Santos Basin pre-salt area, Petrobras continued development and exploration activities through EWTs, new discoveries, and optimization of drilling times and costs.
Webcast about the 3rd Quarter Results 2011 - IFRSPetrobras
The document provides highlights from Petrobras' 3rd quarter 2011 results. Key points include:
- Operating income and EBITDA were stable compared to the previous quarter. Net income was affected by a 19% devaluation of the Brazilian Real.
- Production of the P-56 platform in the Marlim Sul field is expected to reach peak production in Q1 2012.
- Developments in pre-salt areas include the start-up of the Lula-Mexilhão gas pipeline and tests confirming the potential of the Franco field.
- Production increased 1.2% year-over-year for the first nine months but declined 1% compared to the previous quarter due to scheduled and unscheduled
Edition 36 - Sharing in Petrobras - number 1/2011Petrobras
Petrobras received an award in Chile for its contributions to economic development through investments in technology, quality and the environment. It also signed cooperation agreements with Chinese companies SINOPEC and SINOCHEM. Petrobras started production from its first definitive pre-salt production system and began extended well tests in other pre-salt fields. It also began operating production systems in five pre-salt reservoirs, exported pre-salt oil to Chile, and started a logistics company to transport ethanol.
Petróleo Brasileiro S.A. - PETROBRAS is Brazil's state-controlled oil company. It presented at the World Money Show in February 2007. The presentation discusses PETROBRAS' typical deepwater production projects using semi-submersible platforms and floating storage and offloading vessels. It also highlights several new production platforms coming online in 2007 that would increase its oil production capacity by 560,000 barrels per day. PETROBRAS is a major international integrated energy company with operations in exploration and production, refining, petrochemicals, gas and power.
Edition 29 - Sharing in Petrobras - number 4/2008Petrobras
Petrobras set new monthly oil production records in September. It made a major light oil discovery in the pre-salt area offshore Espírito Santo estimated to contain 1.5-2 billion barrels of oil. Petrobras started first oil production from the pre-salt layer in September in the Jubarte field offshore Espírito Santo, representing an investment of $30 million. Petrobras' net profit in the third quarter of 2008 set a record at $5.99 billion, 56% higher than the previous year, due to increased production and oil, fuel, and export prices.
Edition 26 - Sharing in Petrobras - number 1/2008Petrobras
Petrobras rose to become the sixth biggest energy company in the world and the largest company in Latin America by market value in late 2007. Two key factors contributed to this growth - the discovery of large new oil fields off the coast of Brazil that could make Brazil a major oil producer, and increased investments as part of Petrobras' strategic plan, particularly in production development. These achievements led to record returns for Petrobras shareholders in 2007.
Edition 31 - Sharing in Petrobras - number 2/2009Petrobras
Petrobras had a net income of $2.64 billion in the first quarter of 2009, a 21.7% increase over the fourth quarter of 2008. Total oil and gas production reached 2.3 million barrels of oil equivalent per day, up 6.65% from the same period in 2008. The Akpo field in Nigeria began production in March, with Petrobras holding a 16% interest. Petrobras also announced three new oil discoveries in the Santos Basin and installed a new supercomputer to better simulate production from pre-salt reservoirs.
The document summarizes the company's financial results for the 1st quarter of 2009. It reported a 3% increase in domestic oil, NGL, and natural gas production compared to the 4th quarter of 2008 due to new production systems coming online. Operating income decreased compared to the previous quarter primarily due to lower oil prices and sales volumes, though cost reductions partially offset this. New discoveries were also announced in pre-salt areas that will help drive future growth.
The document provides an overview of Petrobras' financial results for the first quarter of 2007. Some key points:
- Oil and gas production decreased 1.2% domestically due to scheduled platform maintenance, while international production fell 3% due to unrest in Ecuador.
- Revenue fell 5.2% from the previous quarter due to lower sales volumes and oil prices. Operating profit rose 15% through cost reductions.
- Net income declined 20.6% to R$4.1 billion, impacted by higher financial expenses from currency fluctuations and an absence of tax benefits from the prior quarter.
- Investments totaled R$8.3 billion, with 48% toward E&P and 23
- Petrobras achieved its 2012 production target of 1,980 kbpd despite operational challenges.
- Pre-salt production increased to 136.4 kbpd in 2012, up from 100.3 kbpd in 2011.
- Proven reserves totaled 16.44 billion boe and the reserve replacement ratio was 103.3%.
- The PROEF program in the UO-BC increased average production by 25 kbpd and operational efficiency by 11 percentage points.
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
Edition 30 - Sharing in Petrobras - number 1/2009Petrobras
Petrobras signed several new agreements and partnerships that will help expand its business opportunities in Asia and Europe. In Asia, Petrobras signed memorandums with Chinese companies to promote economic development and trade between Brazil and China. It also signed an agreement to sell oil to a Chinese company. In Europe, Petrobras partnered with Portuguese companies in areas like biofuels, natural gas, power, and oil exploration. These partnerships open new fronts for Petrobras in regions where it already operates. Additionally, three new oil platforms started production in Brazil, increasing Petrobras' domestic output by 460,000 barrels per day. Two more platforms are scheduled to begin operating in Brazil in 2009.
The document provides information on Petrobras' 3rd quarter 2014 conference call, including:
- Operating income decreased 48% from the previous quarter due to write-downs and losses totaling $4.1 billion.
- Net income decreased 38% and EBITDA decreased 27% from the previous quarter.
- Oil production is forecast to be 2,125 thousand barrels per day in 2015, a 4.5% increase from 2014.
- The 2015 CAPEX budget is estimated between $31-33 billion and oil prices are projected between $50-70 per barrel.
This document provides an overview of Petrobras' 3rd quarter 2006 earnings conference call. It includes:
1) Domestic oil production increased 1.3% compared to the previous quarter due to new platform performances.
2) Lifting costs increased 8.5% due to higher transportation, seismic, and drilling expenses as well as initial operational costs for new fields.
3) Net income increased slightly to R$7.085 billion, with higher revenues offset by a change in how ANP calculates special participation costs in the Marlim field.
Petrobras reported financial results for the 3rd quarter of 2010. Net income increased 10% compared to the same period last year. Total investments so far in 2010 were 11% higher than the first nine months of 2009. Production grew 2% due to new production units starting up. The average realization price for oil remained stable in Brazil despite lower international prices. Domestic oil product sales increased 11% due to higher diesel and gasoline demand. Operating income decreased due to collective bargaining agreements and maintenance stoppages increasing costs.
Petrobras announced its second quarter 2010 results. Net income increased 7% to R$8.3 billion. New oil discoveries in the Campos Basin pre-salt are estimated to contain 500 million barrels of recoverable oil. Production is increasing with the start-up of new production units such as the FPSO Capixaba in Espírito Santo. Planned investments total $224 billion through 2014 according to the new business plan. Oil and gas production increased year-over-year due to contributions from new projects.
1) The results announcement reported a 5% increase in EBITDA and 4% increase in net income for the 1st quarter of 2010 compared to the 4th quarter of 2009.
2) Oil and natural gas liquids production reached a new monthly record in April 2010 of over 2 million barrels per day.
3) Capital expenditures for the quarter totaled over $17 billion and several new production units are expected to come online throughout 2010 and boost total production capacity.
4) Drilling continues in the pre-salt region with five appraisal wells and plans to lease the first floating production unit, indicating the huge potential of pre-salt reserves.
Webcast 4th Quarter and Fiscal Year 2008 Petrobras
The document summarizes Petrobras' 4th quarter and fiscal year 2008 results. Key points include:
- Oil and gas production levels decreased slightly in 4Q08 due to natural field declines and stoppages. New production systems helped offset declines.
- Prices and margins decreased significantly in 4Q08 compared to 3Q08 due to lower global oil prices.
- Exploration and Production results were affected by lower prices and impairment charges. Downstream was impacted by inventory holding losses.
- Cash flow from operations was positive despite lower earnings, helped by inventory reductions. Leverage increased due to debt and currency devaluation.
Petrobras announced its 4th quarter 2010 results. Key highlights included record oil production in Brazil of 2,256 thousand barrels per day in December 2010. International production increased 3% compared to 2009. Several new production systems and gas treatment units started up in 2010. Proven reserves totaled nearly 16 billion barrels of oil equivalent according to ANP criteria, with over 1 billion added from the Santos pre-salt area. Investments in 2010 were R$76.4 billion, up 8% from 2009.
This document provides a summary of PETROBRAS' 1st quarter 2006 earnings conference call. The summary includes:
- PETROBRAS' net income decreased 18% compared to the previous quarter due to higher tax payments.
- Domestic oil and NGL production increased 14% year-over-year due to new platform start-ups.
- Lifting costs increased 6% quarter-over-quarter mainly due to a 3% real appreciation and lower production volumes.
- Refining costs decreased 6% from the previous quarter due to fewer planned refinery stoppages.
Webcast about the 1st Quarter Results 2011 - IFRSPetrobras
Petrobras reported strong financial results for the 1st quarter of 2011, with record net income. Key highlights included the start-up of pre-salt production in the Campos and Santos Basins, new oil discoveries in the Santos Basin pre-salt area, and the start-up of new gas pipelines and refining units. Oil and gas production increased slightly compared to the prior year due to ramp-ups in existing fields and assets. In the Santos Basin pre-salt area, Petrobras continued development and exploration activities through EWTs, new discoveries, and optimization of drilling times and costs.
Webcast about the 3rd Quarter Results 2011 - IFRSPetrobras
The document provides highlights from Petrobras' 3rd quarter 2011 results. Key points include:
- Operating income and EBITDA were stable compared to the previous quarter. Net income was affected by a 19% devaluation of the Brazilian Real.
- Production of the P-56 platform in the Marlim Sul field is expected to reach peak production in Q1 2012.
- Developments in pre-salt areas include the start-up of the Lula-Mexilhão gas pipeline and tests confirming the potential of the Franco field.
- Production increased 1.2% year-over-year for the first nine months but declined 1% compared to the previous quarter due to scheduled and unscheduled
Edition 36 - Sharing in Petrobras - number 1/2011Petrobras
Petrobras received an award in Chile for its contributions to economic development through investments in technology, quality and the environment. It also signed cooperation agreements with Chinese companies SINOPEC and SINOCHEM. Petrobras started production from its first definitive pre-salt production system and began extended well tests in other pre-salt fields. It also began operating production systems in five pre-salt reservoirs, exported pre-salt oil to Chile, and started a logistics company to transport ethanol.
Petróleo Brasileiro S.A. - PETROBRAS is Brazil's state-controlled oil company. It presented at the World Money Show in February 2007. The presentation discusses PETROBRAS' typical deepwater production projects using semi-submersible platforms and floating storage and offloading vessels. It also highlights several new production platforms coming online in 2007 that would increase its oil production capacity by 560,000 barrels per day. PETROBRAS is a major international integrated energy company with operations in exploration and production, refining, petrochemicals, gas and power.
Edition 29 - Sharing in Petrobras - number 4/2008Petrobras
Petrobras set new monthly oil production records in September. It made a major light oil discovery in the pre-salt area offshore Espírito Santo estimated to contain 1.5-2 billion barrels of oil. Petrobras started first oil production from the pre-salt layer in September in the Jubarte field offshore Espírito Santo, representing an investment of $30 million. Petrobras' net profit in the third quarter of 2008 set a record at $5.99 billion, 56% higher than the previous year, due to increased production and oil, fuel, and export prices.
Edition 26 - Sharing in Petrobras - number 1/2008Petrobras
Petrobras rose to become the sixth biggest energy company in the world and the largest company in Latin America by market value in late 2007. Two key factors contributed to this growth - the discovery of large new oil fields off the coast of Brazil that could make Brazil a major oil producer, and increased investments as part of Petrobras' strategic plan, particularly in production development. These achievements led to record returns for Petrobras shareholders in 2007.
Edition 31 - Sharing in Petrobras - number 2/2009Petrobras
Petrobras had a net income of $2.64 billion in the first quarter of 2009, a 21.7% increase over the fourth quarter of 2008. Total oil and gas production reached 2.3 million barrels of oil equivalent per day, up 6.65% from the same period in 2008. The Akpo field in Nigeria began production in March, with Petrobras holding a 16% interest. Petrobras also announced three new oil discoveries in the Santos Basin and installed a new supercomputer to better simulate production from pre-salt reservoirs.
The document summarizes the company's financial results for the 1st quarter of 2009. It reported a 3% increase in domestic oil, NGL, and natural gas production compared to the 4th quarter of 2008 due to new production systems coming online. Operating income decreased compared to the previous quarter primarily due to lower oil prices and sales volumes, though cost reductions partially offset this. New discoveries were also announced in pre-salt areas that will help drive future growth.
The document provides an overview of Petrobras' financial results for the first quarter of 2007. Some key points:
- Oil and gas production decreased 1.2% domestically due to scheduled platform maintenance, while international production fell 3% due to unrest in Ecuador.
- Revenue fell 5.2% from the previous quarter due to lower sales volumes and oil prices. Operating profit rose 15% through cost reductions.
- Net income declined 20.6% to R$4.1 billion, impacted by higher financial expenses from currency fluctuations and an absence of tax benefits from the prior quarter.
- Investments totaled R$8.3 billion, with 48% toward E&P and 23
- Petrobras achieved its 2012 production target of 1,980 kbpd despite operational challenges.
- Pre-salt production increased to 136.4 kbpd in 2012, up from 100.3 kbpd in 2011.
- Proven reserves totaled 16.44 billion boe and the reserve replacement ratio was 103.3%.
- The PROEF program in the UO-BC increased average production by 25 kbpd and operational efficiency by 11 percentage points.
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
Edition 30 - Sharing in Petrobras - number 1/2009Petrobras
Petrobras signed several new agreements and partnerships that will help expand its business opportunities in Asia and Europe. In Asia, Petrobras signed memorandums with Chinese companies to promote economic development and trade between Brazil and China. It also signed an agreement to sell oil to a Chinese company. In Europe, Petrobras partnered with Portuguese companies in areas like biofuels, natural gas, power, and oil exploration. These partnerships open new fronts for Petrobras in regions where it already operates. Additionally, three new oil platforms started production in Brazil, increasing Petrobras' domestic output by 460,000 barrels per day. Two more platforms are scheduled to begin operating in Brazil in 2009.
The document provides information on Petrobras' 3rd quarter 2014 conference call, including:
- Operating income decreased 48% from the previous quarter due to write-downs and losses totaling $4.1 billion.
- Net income decreased 38% and EBITDA decreased 27% from the previous quarter.
- Oil production is forecast to be 2,125 thousand barrels per day in 2015, a 4.5% increase from 2014.
- The 2015 CAPEX budget is estimated between $31-33 billion and oil prices are projected between $50-70 per barrel.
The document provides an overview of Petrobras' 4th quarter 2006 results and full year 2006 results. Key points include:
- Domestic oil and gas production increased 5.6% in 2006 due to new production units coming online.
- Total oil, gas, and NGL production increased 3.5% in 4Q06.
- Average sales prices for oil increased 20.45% in 2006.
- Net income decreased 26.6% in 4Q06 primarily due to lower oil prices and sales volumes.
- Exploration and Production operational profit decreased due to international oil price declines.
Webcast about the 2nd Quarter Results 2011 - IFRSPetrobras
1) Petrobras reported net income of R$10.9 billion for 2Q11, in line with 1Q11 results and a 32% increase over 2Q10.
2) Production is expected to increase in 2H11 with the start-up of new offshore fields and platforms.
3) Petrobras is accelerating its pre-salt exploration and has drilled 30 wells in the Santos Basin so far in 2011.
This document provides an overview and summary of Petrobras' 2nd Quarter 2012 financial results. Key points include:
- Petrobras reported a loss in 2Q12 versus a profit in 1Q12, due to factors like exchange rate devaluation, lower oil product prices in Brazil, production stoppages, and increased exploration expenses.
- The average exchange rate depreciated in 2Q12 compared to 1Q12, negatively impacting costs.
- Operational highlights included refining throughput records and advances in contracting for offshore oil development.
- 2Q12 results were affected by unique factors that are unlikely to occur together or at the same intensity in future quarters.
OPERATIONAL AND FINANCIAL
RESULTS - 1st Quarter 2014
Conference Call / Webcast
May 12th 2014
1Q14 Results
8% increase in Operating Income. 14% reduction in Net Income relative to 4Q13
Higher Operating Income due to the full effect during the 1Q14 of the oil products price adjustments and the lower share of
imported diesel in sales, negatively impacted by the provision for PIDV. Net income was lower due to the impact of the fiscal
benefit from interest on capital of R$ 3.2 billion, that occurred in the 4Q13.
The document provides operational and financial results for the 2nd quarter of 2014. It summarizes oil and gas production figures, including a 50,000 barrel per day increase in oil production from the 1st to 2nd quarter. It also outlines factors supporting further production growth for the remainder of 2014, with a target average production of 2.075 million barrels per day. Lifting costs for the 2nd quarter were $14.57 per barrel, a 3% increase from the previous quarter, mainly due to a stronger US dollar.
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.
Rio oil and gas expo conference diretor de abastecimento, paulo roberto costaPetrobras
The document discusses Petrobras' strategic plans to integrate its petrochemical and refining operations through 2022. It outlines investments in new refineries, expansion of existing refineries, and several major petrochemical projects. The largest of these is the COMPERJ petrochemical complex, which will produce a variety of petrochemicals and fuels using heavy crude from Brazil as a feedstock. The integration is aimed at capturing synergies between refining and petrochemical operations to add value and lower costs.
18 09-2008 Paulo Roberto Costa na Rio Oil and Gas Expo Conference no Rio de J...Petrobras
The document discusses Petrobras' strategic plans to integrate its petrochemical and refining operations through 2022. It outlines investments in new refineries, expansion of existing refineries, and several major petrochemical projects. The largest of these is the COMPERJ petrochemical complex, which will produce a variety of petrochemicals and derivatives using heavy crude from Brazil as a feedstock. The integration is aimed at capturing synergies between refining and petrochemical operations to add value and hedge against volatility in each business segment.
Rio oil and gas expo conference diretor de abastecimento, paulo roberto costaPetrobras
The document discusses Petrobras' strategic plan through 2020, including investments in refining and petrochemical industries to better integrate those sectors. It outlines Petrobras' current refining infrastructure and capacity in Brazil and details several new refining projects planned through 2020 to increase capacity. It also provides an overview of Brazil's petrochemical industry value chain and Petrobras' role in that sector through its ownership stakes in major petrochemical companies.
This document provides a summary of SBM Offshore's 2009 results and outlook. Key highlights include net profits of $230 million and record backlog of $10 billion despite lower new orders. Major projects delivered in 2009 included FPSOs in Brazil and the Gulf of Mexico. The company's lease fleet consists of 18 units under long-term contracts. SBM Offshore is focused on cost control and executing major projects in 2010 while pursuing new technologies like LNG FPSO and wave energy conversion.
ARC Resources - October 2012 Investor PresentationARC Resources
ARC Resources is an oil and gas company focused on growth through its capital program in 2012. The $600 million capital budget is focused on oil and liquids-rich gas plays in NE BC, Northern AB, Pembina, and SE Sask/Manitoba that will provide production and revenue growth. ARC has a history of balanced growth and income through risk management, operational excellence, and capital discipline.
Rio oil and gas expo conference diretor de abastecimento,2 paulo roberto costaPetrobras
Paulo Roberto Costa, Downstream Director at Petrobras, discussed Petrobras' strategic plan to invest in refining and petrochemical integration through 2022. Key points included expanding petrochemical production capacity, capturing synergies between refining and petrochemical operations, and developing new petrochemical projects like COMPERJ, an integrated refining and petrochemical complex in Rio de Janeiro. The goal is to add value across the supply chain and position Petrobras as a leader in cost-efficient petrochemical production in Brazil.
Pre-salt: overview and opportunities - Rio Oil & Gas 2012Petrobras
The document provides an overview of Petrobras' pre-salt strategy and results. Key points include:
- Petrobras has a strategy of performing extended well tests and pilot production to appraise pre-salt fields before full development.
- Exploration success rates in the Santos Basin pre-salt have exceeded 90%, resulting in major discoveries like Lula and Sapinhoá.
- The Lula Pilot was a pioneering project that demonstrated the productivity and potential of pre-salt reservoirs.
- Production from pre-salt fields is expected to increase significantly through 2020 to over 4 million barrels per day.
The document summarizes the company's 3rd quarter 2009 results. Domestic oil production increased 5% due to new production units coming online. Pre-salt exploration activities are accelerating with new wells planned. Lifting costs were stable despite higher oil prices. Net income was flat after adjusting for currency effects. Exploration and production saw solid operating performance while downstream income normalized with increasing international prices. Capex was in line with business plans and the company continues to successfully raise long-term capital.
Petrobras is a fully integrated Brazilian energy company operating across the hydrocarbon chain from exploration and production to distribution. It has significant oil and gas reserves, production, refining capacity, and market share in Brazil. Petrobras' 2013-2017 business plan focuses on capital discipline and performance improvement to maintain an investment grade rating. The plan allocates over $200 billion to upstream projects in Brazil and segments like downstream and gas and power, with the aim of generating $32 billion in savings by 2016 through cost optimization programs.
El Paso Corporation presented perspectives on emissions accounting and cap-and-trade policy considerations for the natural gas sector. El Paso has extensive experience inventorying and reporting its greenhouse gas emissions. Key challenges for the natural gas industry include the vast number of small emission sources and high uncertainty in fugitive methane emissions. El Paso recommends a consistent national reporting program that phases in requirements and considers the industry's limited prior experience with emissions accounting. Cap-and-trade programs could significantly impact natural gas sector businesses, with compliance costs estimated in the billions of dollars depending on the allowance price.
08.10.2009 Presentation of President José Sergio Gabrielli de Azevedo about ...Petrobras
The document discusses perspectives for the LP gas and oil markets. It summarizes that global oil demand is expected to increase significantly by 2020-2030, challenging production capacity. World LP gas demand is projected to grow over 1% annually. Brazil's pre-salt oil reserves could double the country's proven reserves. Domestic oil production and product demand in Brazil are both expected to increase steadily through 2020. LP gas consumption and imports in Brazil have grown but imports are projected to decline as new refineries come online. Petrobras' infrastructure includes refineries, natural gas units, pipelines and terminals to integrate operations across the LP gas supply chain. LP gas faces displacement risks from natural gas and wood but opportunities include modernizing bott
Petrobras held its annual CEO Energy/Power Conference in September 2008. The presentation provided an overview of Petrobras' corporate organization, key operating results from 2005-2007, recent oil and gas discoveries in Brazil from 2002-2007 including major pre-salt finds, and major projects planned from 2007-2012 aimed at increasing production capacity. It also discussed Petrobras' focus on developing Brazil's domestic supply chain and workforce to support its growing operations.
Petrobras held its annual CEO Energy/Power Conference in September 2008. The presentation provided an overview of Petrobras' corporate organization, key operating results from 2005-2007, recent oil and gas discoveries in Brazil from 2002-2007 including major pre-salt finds, and major projects planned from 2007-2012 aimed at increasing production capacity. It also discussed Petrobras' focus on developing Brazil's domestic supply chain and workforce to support its growing operations.
Presidente José Sergio Gabrielli de Azevedo. Apresentação para The Brazil-Tex...Petrobras
The document discusses Petrobras, a Brazilian oil and gas company. It outlines Petrobras' strategy to become a more integrated energy company through large investments between 2010-2014. This includes expanding oil and gas production, refining capacity, and downstream assets like pipelines and petrochemical plants. Petrobras also discusses its leadership in deepwater drilling and major pre-salt oil discoveries off the coast of Brazil.
ARC Resources - December 2012 Investor PresentationARC Resources
ARC Resources presented their investor presentation for December 2012. The presentation highlights ARC's focus on oil and liquids-rich gas plays, with their 2013 capital budget allocating 91% to drilling and infrastructure for these plays. ARC forecasts production growth in 2013 while maintaining their $0.10 per month dividend. Their strategic focus is on operational excellence in their key resource plays to create long-term value for investors.
The document provides an investor update from Penn West Energy Trust. It discusses Penn West's discovered petroleum initially-in-place (DPIIP), including that DPIIP is equivalent to original oil in place. It also notes that certain information in the presentation constitutes forward-looking statements and is subject to risks and uncertainties. Furthermore, the document summarizes Penn West's light oil and natural gas reserves, prospective acreage holdings in various plays, and its Cardium development program in west central Alberta.
MPX Energia reported strong 4Q12 results with key highlights:
- Commercial operations began at three power plants totaling 889 MW.
- Natural gas production in the Parnaíba basin reached 2.1 million m3/day.
- Significant reduction in spot market exposure by postponing two PPAs.
- Capex of $374 million in the quarter to advance construction of plants totaling 1,925 MW.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
ARC Resources - January 2013 Investor PresentationARC Resources
This document is an investor presentation from ARC Resources that contains forward-looking statements regarding ARC's projections, expectations, and beliefs relating to future production, reserves, exploration and development plans. It notes key metrics like current production of 92,800 boed, reserves of 572 mmboe, and an annualized dividend yield of 18%. It also outlines ARC's focus on oil and liquids-rich gas development in its core areas and production growth from areas like the Montney formation, while maintaining capital discipline and delivering returns to investors.
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.
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Link de registro
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UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
2. DISCLAIMER
The presentation may contain forecasts CAUTIONARY STATEMENT
about future events. Such forecasts merely FOR US INVESTORS
reflect the expectations of the Company's
management. Such terms as "anticipate", The United States Securities and Exchange
"believe", "expect", "forecast", "intend", Commission permits oil and gas companies,
"plan", "project", "seek", "should", along with in their filings with the SEC, to disclose only
similar or analogous expressions, are used proved reserves that a company has
to identify such forecasts. These predictions demonstrated by actual production or
evidently involve risks and uncertainties,
whether foreseen or not by the Company. conclusive formation tests to be
Therefore, the future results of operations economically and legally producible under
may differ from current expectations, and existing economic and operating conditions.
readers must not base their expectations We use certain terms in this
exclusively on the information presented presentation, such as oil and gas
herein. The Company is not obliged to resources, that the SEC’s guidelines
update the presentation/such forecasts strictly prohibit us from including in
in light of new information or future filings with the SEC.
developments.
2
3. CONTINUED GROWTH OF DOMESTIC AND
INTERNATIONAL PRODUCTION
TWO CONSECUTIVE MONTHS WITH DOMESTIC OIL
PRODUCTION ABOVE 2 MILLION BPD
Total Production (Oil, NGL and Domestic Production - 3Q09 VS 3Q08
Natural Gas) - 3Q09 VS 3Q08
2,213 2,293
2,437 2,534 -3 %
+8 % 241 330 319
224
Thousand bpd
Thousand bpd
+4% +5%
2,213 2,293 1,883 1,974
3Q08 3Q09 3Q08 3Q09
Domestic International Oil and NGL Natural Gas
• Increase in total production due to higher domestic production and the start-up of Akpo field, in
Nigeria
• 5% increase in domestic oil production due to increased output from P-52 and P-54, coupled with
the start-up of P-51, P-53, FPSO Cidade de Niterói and FPSO Cidade de São Vicente
• Natural gas production restricted by the decrease in demand, specially from thermo-electric plants
3
4. NEW PRODUCTION UNITS WILL CONTINUE
RAMP-UP TO INCREASE PRODUCTION
P-51
AVERAGE
PLATFORM/ CAPACITY 3Q09
NUMBER OF EXPECTED
FIELD (thous. bpd) WELLS WELLS
(thous. bpd)
P-51
P-53 / Marlim 7 producers 13 producers
Leste
180 90
3 injectors 8 injectors
P-53
P-51 / Marlim 5 producers 10 producers
Sul
180 88
6 injectors 9 injectors
FPSO-Cidade 9 producers (oil)
FPSO Cidade de Niterói de Niterói / 100 38 2 producers (oil)
Marlim Leste 1 producer (gas)
FPSO Cidade de
Niterói
Total 460 216 - -
4
5. PRE-SALT ACTIVITIES ACCELERATING, REAFIRMING
POTENTIAL AND INCREASING UNDERSTANDING
Drilling of the 4th well of the
BM-S-10 BM-S-11 Evaluation Plan of Tupi was
BR 65% BR 65% concluded, confirming the
potential of the area
Iara
BM-S-8
Parati
BR 66% Iracema Excellent performance of
Tupi EWT, with production
Tupi NE of approximately 20
Tupi Júpiter
thousand bpd
Extensão - Tupi
Carioca Tupi P1 Formation Test in wells Iara,
Bem-te-vi
Guará
Iracema and Tupi Northeast
Iguaçu BM-S-24
Abaré BR 80% Drilling and completion of the
1st well in the Tupi pilot
Guarani
Azulão BM-S-9
Caramba
BR 45% Legend:
BM-S-21
BM-S-22 Drilled Wells
BR 80%
BR 20%
Formation Test
Next steps: new wells in the Tupi pilot; new exploratory wells in BMS-9, BMS-11
and BMS-10 Drilling and
Rigs: 3 new drilling rigs until 1H/2010 Completion
Ongoing biddings: (i) FPSO chartered for the Guará pilot; (ii) 8 hulls for the Pre-salt
project in Santos Basin
5
6. REDUCED HEAVY OIL DISCOUNT
IMPROVES MARGINS
121.37 114.78
(US$/barrel)
96.9
88.69
74.87 105.46
86.13 100.58 68.28
76.75 54.91 58.79
44.40
64.42
64.00
47.95 48.68
15.91 14.20 32.23
10.45 11.94 10.77
6.96 12.17 10.11 4.28
3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09
Petrobras Oil Price (average) Brent (average) Discount
• Decrease in global supply of heavy oil contributed to the significant reduction in the
Brent discount
• Improvement in relative price for Petrobras export basket increased export revenues
6
7. LIFTING COSTS STABLE, IN SPITE OF
HIGHER OIL PRICES
R$/barrel US$/barrel
114.78
68.28
54.40 54.91 58.79
41.62 44.40
41.48 38.86
36.79 34.24
22.39 16.33 21.28 24.78 30.27 22.86
20.06 18.11 14.69 19.50
17.61 19.09 17.91 17.58 16.84 9.87 6.87 10.78 13.84
10.21 8.24 7.82 8.72 9.02
3Q08 4Q08 1Q09 2Q09 3Q09 3Q08 4Q08 1Q09 2Q09 3Q09
Lifting Cost Gov. Take
Lifting Cost Gov. Take Brent
• Lower lifting costs without government take, in Reais, despite increase in international
oil prices
• In Dollars, the increase was due to FX rate appreciation
• Increase in the government take due to higher international oil prices and increase in
tax rates applied to certain fields, especially Marlim Sul e Marlim Leste
7
8. SUCCESSFUL LONG TERM PRICING POLICY
US$/bbl
US$/bbl R$/bbl
R$/bbl
3Q08 2Q09 3Q09
3Q08 2Q09 3Q09 R$/bbl
US$/bbl
160
129.81 250 215.62
140
120 200
112.49 160.79
100
187.02 152.65
150
80 77.34 81.54
60 70.37 100 128.41 131.52
40
62.23
50
20
0 0
Mar-07Jun-07Sep-07Dec-07Mar-08Jun-08Sep-08Dec-08Mar-09Jun-09Sep-09 Mar-07Jun-07Sep-07
Dec-07Mar-08Jun-08Sep-08
Dec-08Mar-09Jun-09Sep-09
ARP Petrobras ARP EUA
• Comparing with the 2Q09 the ARP decreased in Reais due to reduction of gasoline
and diesel price and the strengthening of the Real
• Express in Dollars, average sales price increased 5,4% due to strengthening of Real
8
9. INCREASE IN SALES VOLUMES, IN LINE
WITH ECONOMIC RECOVERY
Oil Products and Natural Gas in Brazilian Market
-2 %
-13% +3 %
2,118 +10%
2,085 1,998 2,054
337 302 1,824 244
244
Thousand bpd
215
404 498 456 492
453
224 211 212 222
195
354 329 331 327
303
799 755 +2 % 769
745 658
3Q08 4Q08 1Q09 2Q09 3Q09
Diesel Gasoline GLP Others Oil Products Natural Gas
• Oil product sales increased with resumption of Brazilian economic growth,
accentuated by seasonal aspects
• Natural gas sales decreased due to lower thermoelectric demand, partially
compensated by higher industrial consumption
9
10. IMPROVING OPERATIONS REFLECTED IN
GROWING TRADE BALANCE
(thousand barrel/day) Oil products
9M08 vs 9M09 Oil
633 628 714
234 222 562
231
157
399 406 152
483
405
5
Exports Imports Net Exports
Exports Imports Net Exports
Financial Volume (US$ Million)
• Boost in oil production led to higher
- US$ 1,813
oil export
+ US$ 1,795
19,920 18,107 • Imports decreased (specially diesel
8,845 10,640
imports) due to economic slow down,
lower thermoelectric generation and
9M08 9M09 increase in production of domestic oil
Im ports Exports products (diesel)
10
12. OPERATING INCOME IMPACTED BY SPECIAL
PARTICIPATION PROVISIONING
NET REVENUE
(IN MILLION R$ - 2Q09 VS 3Q09)
3,272 (4,401)
13,896
(2,520) 12,295
P.E. MARLIM = 2,048
10,247
2Q09 Net Operating Operating 3Q09
COGS Expenses Operating Income
Operating Income Revenue
• Higher oil prices, lower spread between light and heavy oil and increase in oil
products sale generated higher net operating revenue
• Higher sales volumes and higher import prices led to increase in COGS
• Decline in operating income is explained by a provisioning for special
participation tax related to Marlim field (R$ 2.05 billion)
12
13. NET INCOME FLAT, AFTER
ADJUSTING FOR FX VARIATIONS
NET INCOME
(R$ MILLION – 2Q09 VS 3Q09)
7,734 (3,649) 3,168 (63) (836) 949 7,303
Hedge
533
1,677 Net
Monetary
Variation
2Q09 Operating Financial Equity Minority 3Q09
Net Income Taxes
Income Result Income Interest Net Income
• Better financial result due to lower FX rate appreciation and net monetary variation
from the BNDES loan (R$ 1.7 Billion)
• Counterpart of hedge gains was higher COGS
• Taxes Increased due to the higher fiscal benefit from interest on equity along with
higher recovery of fiscal credits in exploratory activities abroad in 2Q09
• Reduction in minority interest due to lower FX gains on SPCs debts
13
14. EXPLORATION AND PRODUCTION –
SOLID OPERATING PERFORMANCE
EXPLORATION & PRODUCTION – OPERATING INCOME
(R$ MILLION – 2Q09 VS 3Q09)
2,806 (820)
(425) 418 (2,419)
8,246 7,806
2Q09 Oper. Price Effect Volume Effect Cost Effect Volume Effect Operational 3Q09 Oper.
Income on Revenues on Revenues on average on COGS Expenses Income
COGS
• Reduced spread between light and heavy oil contributed to the increase in revenues
• Increase in inventories caused slight reduction in sales volumes
• Increase in COGS due to higher production taxes due to higher oil prices
• Increase in operating expenses due to the extraordinary provision for Marlim field
Government take
14
15. DOWNSTREAM – INCOME NORMALIZING WITH
INCREASES IN INTERNATIONAL PRICES
DOWNSTREAM – OPERATING INCOME
(R$ MILLION – 2Q09 VS 3Q09)
2,911 (5,278)
7,914 (636)
(2,316)
205 2,800
2Q09 Oper. Price Effect Volume Effect Cost Effect Volume Effect Operational 3Q09 Oper.
Income on Revenues on Revenues on average on COGS Expenses Income
COGS
• Despite reduction in ARP in Reais (2Q09: R$ 160.79; 3Q09: R$ 152.75), increase
in the volumes sold, led by economic growth, increased revenues
• Higher oil and oil products import costs and reduced heavy/ light oils spread led
to increase in COGS
15
16. INCREASING CONTRIBUTIONS FROM GAS & ENERGY,
INTERNATIONAL AND DISTRIBUTION (2Q09 VS 3Q09)
Gas & Energy 2Q09 3Q09
VS.
Operating Result: R$ 576 million R$ 651 million
• Higher volumes sold in non-thermo electric markets
• Decrease in natural gas imports/transfer costs, following
the levels of international reference prices
• Reduction in the energy generation income partially offset
by better results from power sales
Operating Result : 2Q09 3Q09
International VS.
R$ 224 million R$ 363 million
• Higher realization prices and increase in production
contributed to higher operating income
• Akpo start-up in Nigeria was main contributor to the trend
of increasing production
Distribution
2Q09 VS. 3Q09
Operating result: R$ 466 million R$ 620 million
• 7% increase in sales margins and 9% in volumes
supported continued strength for our distribution
segment
16
17. CONTINUED GROWTH IN CAPEX,
CONSISTENT WITH BUSINESS PLAN
Capex 9M09 - R$ 50.7 billions vs Capex 9M08 - R$ 34.1 billions
7% 11%
2% 3%
3% 0,5
1% 0.9
1,1 1.2
3.8 0,4 3.7
2%
0,4 1.5 0.7
0,1 0.4 1% 0.3
11% 1,0 5.5
46% 4.1 15.8 46%
23.2 12%
1,5 4.5 7,1 2.2
9%
2,8d 6.4
10.6 6%
21% 19%
E&P Doestream G&E International Distribution Corporate SPE Projects under Negociation
Capex in line with the Company´s opportunities
17
18. SUCCESSFUL EFFORTS TO RAISE CAPITAL
FROM LONG TERM SOURCES
Market Capital Bond issuance + Others Loans
6.75 US$ 28.05 billions
6.5 Oct-30 (Maturity 2040) U S Eximbank
1.5 Yield: 7.00%
BNDES Others
(US$ bilion)
2
Oct-30 (Maturity 2020)
2.75
2.5 Yield: 5.875%
(*)
13.3
1.25 Jul-09 (Maturity 2019)
10
Yield: 6.875%
China
1.5 Development
0
Feb-11 (Maturity 2019) Bank
Brigde Loan Bond issue Yield: 8.125%
(*) R$ 25 billions converted by FX tax in 07.30.09
In 2009, US$ 34.8 billion were raised
with an average life of 10.6 years
18
19. LIQUIDITY STRENGTHENED, LEVERAGE
WITHIN TARGETS
R$ million 09/30/2009 06/30/2009
27% 28% 28%
23% 25% 26% 26%
Short Term Debt 10,639 13,086
21% 21% 21% 22% Long Term Debt 79,588 55,782
18% 19% 19%
21% Total Debt 90,227 68,868
19%
18%
Cash and Cash
30,088 10,072
12% Equivalents
Short Term Debt 60,139 58,796
30/09/2007 31/03/2008 30/09/2008 31/03/2009 30/09/2009 Capital Structure 49% 49%
Net Debt/Net Capt. US$ million 09/30/2009 06/30/2009
Short Term Debt/Total Debt
Total Debt 50,743 35,288
• Increase in liquidity due to the increase in cash and decrease in short term debt.
• Net Debt/Net Capitalization stable and within the target range (25%-35%)
19
20. STABLE CASH FLOWS SUPPORT
INVESTMENT PLAN
R$ million Jan-Sep2008 Jan-Sep 2009 3Q09
Cash at the beginning of period 13,071 15,889 10,072
Operating Cash Flow 34,337 38,180 16,681
Investment (34,534) (50,622) (18,446)
Free Cash Flow (198) (12,442) (1,765)
Dividends (6,187) (9,835) (3,426)
Financing 3,581 36,987 25,441
Cash at the end of period 10,776 30,088 30,088
Average Life of Debt (years)* 4.21 6.38 6.38
Net Debt/ EBITDA 0.85 1,00 1.11**
Average Brent (R$/bbl) 187.62 118.87 127.68
Average Exchange Rate (R$/US$) 1.69 2.08 1.87
Higher operating cash flow, despite lower oil prices
Increasing CAPEX supported by higher borrowings during the year
New loans improved average life of debt stock
* End of period
20 ** last 12 months
21. For more information:
Investor Relations
www.petrobras.com.br/ri
+55 21 3224-1510
21 petroinvest@petrobras.com.br