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.
- 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.
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.
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.
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.
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.
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.
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.
- 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.
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.
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.
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.
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.
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.
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.
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
Petrobras reported financial results for the 2nd quarter of 2011, with net income of R$10.9 billion, in line with 1Q11 results. Domestic oil and gas sales volumes increased 7% compared to 1Q11 and 9% compared to 2Q10. Three new extended well tests were implemented in pre-salt areas. Production is expected to increase in the second half of the year with the start-up of new offshore fields and platforms. Drilling in the Santos Basin pre-salt continues at an accelerated pace with high exploration success.
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
- 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.
Marathon Oil Corporation reported financial results for the first quarter of 2007, with net income of $717 million compared to $784 million in the same period of 2006. Earnings per share were $2.07 compared to $2.13 the prior year. Segment income totaled $749 million, down from $792 million in 2006. Exploration and production income decreased to $385 million due to lower natural gas prices and volumes. Refining and marketing income increased to $345 million on higher gasoline margins. Construction continued on major projects and the company increased its dividend.
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' 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.
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.
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.
Marathon Oil Corporation reported financial results for the second quarter of 2007, with net income of $1.55 billion compared to $1.75 billion in the same period of 2006. Refining and marketing segment income increased to $1.246 billion from $917 million due to improved refining margins. Exploration and production segment income decreased to $400 million from $659 million due to lower sales volumes and prices. The company also delivered its first shipment of liquefied natural gas from Equatorial Guinea, six months ahead of schedule. Capital, investment, and exploration spending for 2007 was increased by $441 million to $4.683 billion.
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.
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
Marathon Oil Corporation reported third quarter 2007 results, with net income of $1.021 billion compared to $1.623 billion in third quarter 2006. Earnings were impacted by a challenging quarter for downstream segments as increased crude costs compressed margins. Despite near-term volatility, Marathon is making investments in profitable long-term growth opportunities such as Canadian oil sands and refinery upgrades. Marathon also acquired additional oil sands leases and expects production from the assets to grow significantly in coming years.
- Marathon Oil Corporation reported Q4 2006 net income of $1.079 billion compared to $1.265 billion in Q4 2005. Full year 2006 net income was $5.234 billion compared to $3.032 billion in 2005.
- Upstream segment income decreased in Q4 2006 due to lower natural gas prices and volumes as well as higher costs, but increased for the full year due to higher oil volumes and prices.
- Downstream segment income decreased in Q4 2006 but increased for the full year due to Marathon's acquisition of a minority interest in 2005.
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.
Webcast Business Plan 2011-2015 Presentation Petrobras
Petrobras' CEO José Sergio Gabrielli presented the company's investment plan for 2011-2015. Some key points:
- Investments total $224.7 billion, similar to the previous 2010-2014 plan. Exploration & Production receives 57% of investments.
- The plan aims to double proved reserves by 2020 while maintaining discovery costs around $2/boe.
- Nineteen large projects are planned that will add over 2.3 million barrels per day of oil production capacity.
- 65% of Capex will go toward production development through drilling and developing new offshore oilfields.
Marathon Oil Corporation reported financial results for the fourth quarter and full year of 2007. Net income for Q4 2007 was $668 million compared to $1.079 billion for the same period in 2006. For the full year, net income was $3.956 billion compared to $5.234 billion in 2006. Key events in 2007 included acquiring Western Oil Sands, completing an LNG facility in Equatorial Guinea, and beginning major refinery expansion projects. Production is expected to increase in 2008 from new oil projects coming online.
- Marathon Oil Corporation reported a net income of $2.064 billion for Q3 2008, more than double the $1.021 billion in Q3 2007. Revenues increased to $23.446 billion from $16.954 billion.
- Exploration and Production segment income nearly doubled to $939 million due to higher liquid hydrocarbon prices and sales volumes. Oil Sands Mining reported income of $288 million.
- Refining, Marketing and Transportation segment income increased to $771 million due to higher refining margins and crude oil differentials. Integrated Gas income was $65 million.
- Production averaged 379,000 barrels of oil equivalent per day, up from 371,000 in Q3 2007.
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 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.
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.
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
Petrobras reported financial results for the 2nd quarter of 2011, with net income of R$10.9 billion, in line with 1Q11 results. Domestic oil and gas sales volumes increased 7% compared to 1Q11 and 9% compared to 2Q10. Three new extended well tests were implemented in pre-salt areas. Production is expected to increase in the second half of the year with the start-up of new offshore fields and platforms. Drilling in the Santos Basin pre-salt continues at an accelerated pace with high exploration success.
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
- 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.
Marathon Oil Corporation reported financial results for the first quarter of 2007, with net income of $717 million compared to $784 million in the same period of 2006. Earnings per share were $2.07 compared to $2.13 the prior year. Segment income totaled $749 million, down from $792 million in 2006. Exploration and production income decreased to $385 million due to lower natural gas prices and volumes. Refining and marketing income increased to $345 million on higher gasoline margins. Construction continued on major projects and the company increased its dividend.
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' 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.
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.
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.
Marathon Oil Corporation reported financial results for the second quarter of 2007, with net income of $1.55 billion compared to $1.75 billion in the same period of 2006. Refining and marketing segment income increased to $1.246 billion from $917 million due to improved refining margins. Exploration and production segment income decreased to $400 million from $659 million due to lower sales volumes and prices. The company also delivered its first shipment of liquefied natural gas from Equatorial Guinea, six months ahead of schedule. Capital, investment, and exploration spending for 2007 was increased by $441 million to $4.683 billion.
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.
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
Marathon Oil Corporation reported third quarter 2007 results, with net income of $1.021 billion compared to $1.623 billion in third quarter 2006. Earnings were impacted by a challenging quarter for downstream segments as increased crude costs compressed margins. Despite near-term volatility, Marathon is making investments in profitable long-term growth opportunities such as Canadian oil sands and refinery upgrades. Marathon also acquired additional oil sands leases and expects production from the assets to grow significantly in coming years.
- Marathon Oil Corporation reported Q4 2006 net income of $1.079 billion compared to $1.265 billion in Q4 2005. Full year 2006 net income was $5.234 billion compared to $3.032 billion in 2005.
- Upstream segment income decreased in Q4 2006 due to lower natural gas prices and volumes as well as higher costs, but increased for the full year due to higher oil volumes and prices.
- Downstream segment income decreased in Q4 2006 but increased for the full year due to Marathon's acquisition of a minority interest in 2005.
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.
Webcast Business Plan 2011-2015 Presentation Petrobras
Petrobras' CEO José Sergio Gabrielli presented the company's investment plan for 2011-2015. Some key points:
- Investments total $224.7 billion, similar to the previous 2010-2014 plan. Exploration & Production receives 57% of investments.
- The plan aims to double proved reserves by 2020 while maintaining discovery costs around $2/boe.
- Nineteen large projects are planned that will add over 2.3 million barrels per day of oil production capacity.
- 65% of Capex will go toward production development through drilling and developing new offshore oilfields.
Marathon Oil Corporation reported financial results for the fourth quarter and full year of 2007. Net income for Q4 2007 was $668 million compared to $1.079 billion for the same period in 2006. For the full year, net income was $3.956 billion compared to $5.234 billion in 2006. Key events in 2007 included acquiring Western Oil Sands, completing an LNG facility in Equatorial Guinea, and beginning major refinery expansion projects. Production is expected to increase in 2008 from new oil projects coming online.
- Marathon Oil Corporation reported a net income of $2.064 billion for Q3 2008, more than double the $1.021 billion in Q3 2007. Revenues increased to $23.446 billion from $16.954 billion.
- Exploration and Production segment income nearly doubled to $939 million due to higher liquid hydrocarbon prices and sales volumes. Oil Sands Mining reported income of $288 million.
- Refining, Marketing and Transportation segment income increased to $771 million due to higher refining margins and crude oil differentials. Integrated Gas income was $65 million.
- Production averaged 379,000 barrels of oil equivalent per day, up from 371,000 in Q3 2007.
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 $50-70 per barrel.
The document summarizes the company's financial results for the 1st quarter of 2009. It reported a 3% increase in domestic oil, NGL, and natural gas production compared to the 4th quarter of 2008 due to new production systems coming online. Operating income decreased compared to the previous quarter primarily due to lower oil prices and sales volumes, though cost reductions partially offset this. New discoveries were also announced in pre-salt areas that will help drive future growth.
Webcast 4th Quarter and Fiscal Year 2008 Petrobras
The document summarizes Petrobras' 4th quarter and fiscal year 2008 results. Key points include:
- Oil and gas production levels decreased slightly in 4Q08 due to natural field declines and stoppages. New production systems helped offset declines.
- Prices and margins decreased significantly in 4Q08 compared to 3Q08 due to lower global oil prices.
- Exploration and Production results were affected by lower prices and impairment charges. Downstream was impacted by inventory holding losses.
- Cash flow from operations was positive despite lower earnings, helped by inventory reductions. Leverage increased due to debt and currency devaluation.
OPERATIONAL AND FINANCIAL
RESULTS - 1st Quarter 2014
Conference Call / Webcast
May 12th 2014
1Q14 Results
8% increase in Operating Income. 14% reduction in Net Income relative to 4Q13
Higher Operating Income due to the full effect during the 1Q14 of the oil products price adjustments and the lower share of
imported diesel in sales, negatively impacted by the provision for PIDV. Net income was lower due to the impact of the fiscal
benefit from interest on capital of R$ 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.
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.
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.
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.
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' 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.
- PetroMagdalena Energy is building on past success by focusing on organic cash flow opportunities in its portfolio in Colombia through activities like enhancing netbacks, reducing costs, and increasing efficiency.
- The company plans to increase development activity in 2012 in the Llanos Basin following exploration success there.
- The 2012 work program is estimated between $70-80 million, with 65% directed towards light oil exploration and development in key areas like Cubiro and Arrendajo. This includes 10 development wells and 3 exploration wells for the rest of the year.
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.
Investor Presentation - September 2011 (English)PetroMagdalena
PetroMagdalena Energy is an oil and gas exploration company focused on assets in Colombia. The presentation provides an operational update, including achievements to date and ongoing work. Key points include reducing costs and increasing production and reserves at core assets like Cubiro. Cubiro is a major asset that saw a 126% increase in reserves in 2010 and will see continued drilling and development in 2011. The 2011 capital budget is $40-50 million to fund an exploration and development program aimed at further increasing production and reserves.
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.
This investor presentation by PetroMagdalena Energy Corp.:
1) Discusses the company's focus on organic cash flow opportunities through exploration success, reducing costs, and maximizing value from existing assets.
2) Provides details on the company's diversified portfolio of oil and gas assets in Colombia and achievements in 2011, including an 86% increase in reserves at the Cubiro block.
3) Outlines the company's 2012 work program which includes exploration and development drilling estimated to cost between $50-60 million, with the goal of doubling reserves in the Llanos Basin.
This document provides an investor presentation for PetroMagdalena Energy Corp. It discusses the company's focus on increasing production, reserves, and cash flow from its portfolio of oil and gas assets in Colombia. Some key points:
- The company aims to increase organic cash flow through exploitation and exploration opportunities across its assets. This includes increased development activity in 2012 at its Cubiro block in the Llanos Basin following exploration success there in 2011.
- At Cubiro, the company increased 2P reserves by 86% to 10.8 million barrels of oil equivalent based on a technical report. 1P reserves increased 73% to 3 million barrels.
- The company is also working to maximize value from its
PetroMagdalena Energy Corp. presented its investor presentation for January 2012. The presentation focused on staying the course with their strategy by increasing production and reserves through exploration success at Cubiro in 2011 and increased development activity in 2012 in the Llanos Basin. Their goals are to improve operating cash flow by enhancing netbacks, reducing costs, and increasing efficiency across their diversified portfolio. They achieved an 86% increase in reserves at Cubiro in 2011 and expect production to increase from 2,800 boed in 2011 to a range of 4,300-4,700 boed in 2012, which would generate an estimated $82 million in operating cash flow for the year.
17.11.2009 Presentation of General Manager for E&P Hugo Repsold Junior in Ba...Petrobras
Petrobras has had success exploring and developing pre-salt reservoirs off the coast of Brazil. They have drilled 11 exploratory wells in the Santos Basin pre-salt cluster with a 100% success rate. Recent accomplishments include the first oil from the Tupi field in May 2009 and ongoing appraisal and testing of additional discoveries like Iara and Guará. Petrobras plans to bring pre-salt production online starting in 2013 to help meet its growth targets.
OGX achieved first oil production from its Waimea field in the Campos Basin in January 2012, within a record time frame of less than 3 years from discovery. In its first month of production, the FPSO OSX-1 operated with an average efficiency of 95-99%, highlighting the company's efficient execution from exploration and appraisal drilling to initial oil production. However, the document also cautions that OGX's resources are not proven reserves and are subject to significant risks and uncertainties.
Petrobras reported its financial results for the 1st quarter of 2015. Net income was R$5.3 billion, a 1% decrease from the same period last year. Higher oil production from the pre-salt fields and lower costs partially offset factors such as lower oil prices, a stronger dollar, and lower oil product sales in Brazil. Operational highlights included setting new monthly oil production records from the pre-salt and starting up new production systems. For 2015, Petrobras expects total oil and gas production of 2.8 million boe/day and plans investments of US$25-26 billion to be funded through cash flow and debt rollovers.
This document discusses Penn Virginia's (PVA's) presentation at the BMO Capital Markets 10th Annual Unconventional Resource Conference on January 8, 2012. It begins with forward-looking statements and definitions of proved, probable and possible oil and gas reserves. It then provides a high-level overview of PVA, including its transition to focus on oil and liquids-rich plays like the Eagle Ford Shale. The document summarizes PVA's key assets and highlights its multi-year drilling inventory in the Eagle Ford Shale play.
This document provides an overview of Petrobras' performance in 2010. The key points are:
1) Petrobras achieved three major milestones in 2010 - starting up the Lula field pilot system, raising $69.9 billion in the world's largest equity issuance, and signing a contract guaranteeing the right to produce 5 billion barrels of oil.
2) Financially, net profit reached $19.18 billion, a 17% increase over 2009. Total oil and gas production was 2.58 million barrels per day.
3) Investments totaled $45.08 billion, an 8% increase over 2009, focused on increasing production, improving refining facilities, and expanding transportation
Edition 38 - Sharing in Petrobras - June/2013Petrobras
Petrobras presented its 2013-2017 Business and Management Plan (BMP) with forecast investments of US$236.7 billion. The majority (US$147.5 billion) will go toward Exploration and Production, focusing on pre-salt and transfer of rights areas. Downstream investments include refineries and petrochemical projects. The BMP maintains the company's commitment to investment grade ratings while prioritizing operational efficiency. Seven new production systems are scheduled to start operations in 2013, increasing output capacity to 820,000 barrels per day.
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.
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.
The document summarizes Chevron's third quarter 2008 earnings conference call. It discusses Chevron's Q3 2008 earnings of $7.9 billion, an update on upstream production including impacts from hurricanes, the status of major capital projects, and other highlights in upstream operations. Representatives from Chevron's executive team presented on topics such as earnings components, production by region, and progress on key projects.
The document provides an operational and financial summary of Petrobras' results for the 1st quarter of 2013. Key highlights include:
- Net income of R$7.693 billion and EBITDA of R$16.231 billion.
- Oil production was 1,910 kbpd, down 4% from 4Q2012 due to scheduled maintenance. Three new FPSOs started production.
- Record refining output of 2.149 million barrels per day on April 7th. Oil product sales in Brazil grew 7% year-over-year.
- Exploration expenses decreased from 4Q2012 while 18 wells were written off due to being dry or subcommercial.
The document provides an overview of Petrobras, the Brazilian national oil company. Some key points:
- Petrobras operates across the entire hydrocarbon chain from exploration and production to refining and distribution of oil and gas.
- From 2013-2017, Petrobras plans to invest $236.7 billion in projects, with $147.5 billion for exploration and production activities focused on pre-salt reserves off the coast of Brazil.
- New production units coming online in 2013-2014 from pre-salt fields are expected to boost Petrobras' oil production in Brazil to over 2 million barrels per day.
Braskem reported financial results for the first quarter of 2010 with an EBITDA of R$729 million, up 19% from the fourth quarter of 2009. Net revenue was R$4.466 billion, up 5% from the previous quarter. Domestic resin sales were stable compared to the fourth quarter. Braskem also announced the approval of its PVC project in Alagoas with an NPV of US$450 million and changes to its Venezuela project that reduce investments to US$500 million. Total planned investments for 2010 amount to R$1.6 billion, focusing on the PVC expansion project in Alagoas and other growth and maintenance projects.
Marathon Oil Corporation reported strong financial results for Q4 2003 and full year 2003. Net income for Q4 2003 was $485 million compared to $194 million for Q4 2002. For full year 2003, net income was $1.321 billion compared to $516 million in 2002. The company replaced over 120% of production in 2003 through exploration success in Angola, Norway, Gulf of Mexico and Equatorial Guinea. Marathon also strengthened its financial position through asset sales of over $1.2 billion and initiated organizational changes expected to result in $135 million in annual savings beginning in 2004.
Similar to Webcast about the 1st Quarter Results 2011 - IFRS (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 $74.1 billion, with 81% directed towards exploration and production. The plan expects to increase oil and gas production to 3.34 million boe/day by 2021 through development of pre-salt and post-salt assets. Financial measures aim to fund investments without taking on additional net debt over the period.
Strategic Plan and 2017-2021 Business & Management PlanPetrobras
This document outlines Petrobras' strategic plan for 2017-2021. It discusses where the company is currently, with high debt levels and operating costs, and where it wants to be - an integrated energy company focused on oil and gas. The plan details how Petrobras will get there through initiatives like cost reductions, partnerships and divestments, and lower capital expenditures. It establishes metrics to measure success in areas like safety, financial leverage, and production levels. The strategies discussed include optimizing the exploration and production portfolio, increasing efficiency in deepwater production, and strengthening refining and natural gas operations.
Plano Estratégico e Plano de Negócios e Gestão 2017-2021Petrobras
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O Conselho de Administração da Petrobras aprovou o Plano de Negócios e Gestão 2015-2019, com objetivos de desalavancagem da companhia e geração de valor para acionistas. O plano prevê reduzir a alavancagem líquida para menos de 40% até 2018 e 35% até 2020, com desinvestimentos de US$ 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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The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
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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).
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
2. DISCLAIMER
FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements We undertake no obligation to publicly update or
about future events within the meaning of Section 27A of revise any forward-looking statements, whether as
the Securities Act of 1933, as amended, and Section 21E a result of new information or future events or for
of the Securities Exchange Act of 1934, as amended, that any other reason. Figures for 2011 on are
are not based on historical facts and are not assurances of estimates or targets.
future results. Such forward-looking statements merely
reflect the Company’s current views and estimates of
future economic circumstances, industry conditions, All forward-looking statements are expressly
company performance and financial results. Such terms qualified in their entirety by this cautionary
as "anticipate", "believe", "expect", "forecast", "intend", statement, and you should not place reliance on
"plan", "project", "seek", "should", along with similar or any forward-looking statement contained in this
analogous expressions, are used to identify such forward- presentation.
looking statements. Readers are cautioned that these
statements are only projections and may differ materially
from actual future results or events. Readers are referred NON-SEC COMPLIANT OIL AND GAS RESERVES:
to the documents filed by the Company with the SEC,
specifically the Company’s most recent Annual Report on CAUTIONARY STATEMENT FOR US INVESTORS
Form 20-F, which identify important risk factors that could We present certain data in this presentation, such
cause actual results to differ from those contained in the as oil and gas resources, that we are not permitted
forward-looking statements, including, among other to present in documents filed with the United
things, risks relating to general economic and business States Securities and Exchange Commission (SEC)
conditions, including crude oil and other commodity under new Subpart 1200 to Regulation S-K because
prices, refining margins and prevailing exchange rates, such terms do not qualify as proved, probable or
uncertainties inherent in making estimates of our oil and possible reserves under Rule 4-10(a) of Regulation
gas reserves including recently discovered oil and gas S-X.
reserves, international and Brazilian political, economic
and social developments, receipt of governmental
approvals and licenses and our ability to obtain financing.
2
3. HIGHLIGHTS OF THE QUARTER
o Record net income;
o Start‐up of pre‐salt EWT in Campos and Santos Basins: Brava,
Tracajá and Lula Northeast;
o New oil discoveries in Santos Basin pre‐salt area, such as
Carioca Northeast and Macunaíma;
o Start‐up of gas pipelines linking Lula Pilot and Mexilhão platform
and connecting Caraguatatuba and Taubaté (Gastau);
o New diesel and naphtha HDT units in RPBC, REGAP and REVAP
refineries;
o US$ 6 billion Bond issuance of 5, 10 and 30 year.
3
4. MAIN INDICATORS
∆%
1Q11 4Q10 1Q10
1Q11 X 4Q10
EBITDA (R$/million) 16,093 14,584 10% 15,076
OPERATING INCOME¹ (R$/million) 12,536 10,773 16% 11,617
NET INCOME² (R$/million) 10,985 10,602 4% 7,726
AVERAGE REALIZATION PRICES – ARP (R$/bbl) 163.58 158.89 3% 157.39
AVERAGE REALIZATION PRICES – ARP (U$/bbl) 98.15 93.66 5% 87.29
Brent (US$/bbl) 104.97 86.48 21% 76.24
Average sales dollar (R$) 1.67 1.70 ‐2% 1.80
Production (thousand bbl/day) 2,627 2,628 ‐ 2.547
¹ Income before financial results, profit sharing and taxes
² Net income attributable to Petrobras shareholders 4
5. OIL AND GAS PRODUCTION – 1Q11 VS 1Q10
Total Production (daily average) Brazilian Production (daily average)
+3% 2,385
2,547 2,627 2,302 +4%
‐1% 341 Natural
245 242 International 317 8%
Gas
(thous bpd)
4% 3% Oil and
2,385 2,044 NGL
2,302 Brazil 1,985
1Q10 1Q11 1Q10 1Q11
o Increase in production due to ramp‐up of installed units in 2010 in Campos Basin, Lula Pilot, and EWTs of
Tiro, Sidon and Guará;
o Start‐up of new wells in Akpo and Agbami (Nigeria) partially offset by decline of mature fields in Argentina
and Colombia;
o Investments in infrastructure and new NG production units contributed to a supply growth of 8% when
compared 1Q11 VS 1Q10.
5
6. SANTOS BASIN PRE‐SALT UPDATE
o Approval of chartering of 2 new FPSOs for the
Guará‐Norte and Cernambi projects;
o New discovery of good quality oil in the pre‐
salt reservoirs of block BM‐S‐9, informally
known as Carioca Nordeste;
o Discovery of a new accumulation of good
quality oil in Parati (BM‐S‐10), named
‘ Macunaíma;
o 8 new drilled wells in 2011, taking Santos
Basin Pre‐Salt total to 28 wells drilled;
o PLANSAL Revision;
o Start up of Lula Nordeste EWT;
o Restart of Guará EWT;
o The current fleet of drilling rigs (6) will
increase to 11 by the and of the year.
6
8. EXTENDED WELL TESTS IN PRE‐SALT
EWT Results:
o Steady Production without decline
during the test;
o Good behavior of the reservoirs;
o Excellent lateral communication;
o No flow assurance issues;
o Restriction due to gas flaring limits.
6 EWT completed and 4 still underway
8
9. DRILLING OPTIMIZATION IN THE SANTOS PRE‐SALT
o Since the beginning of the activities in the Santos pre‐salt, the drilling time has decreased, reducing Capex.
* Wells ordered by drilling duration.
9
10. AVERAGE REALIZATION PRICE
US$/bbl R$/bbl
120 1Q11 AVERAGE
220
105 ARP Petrobras: 163.58
100 ARP USA: 180.54
86 170
78 94
80 75 76 77
68 80
59 70 73 74 72 120
60 64
44 2010 AVERAGE
ARP Petrobras: 158.26
70
40 49 ARP USA: 150.67
32
20 20
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11
ARP USA ARP Petrobras
Petrobras Oil Price (Average) Brent (US$/bbl)
o Oil price volatility in the quarter (Brent went from US$ 86,48 in the 4Q10 to US$ 104,97 in the 1Q11) due to
geopolitical issues in North Africa, especially in Libya.
10
11. LIFTING COST IN BRAZIL
175.30
R$/barrel US$/barrel
104.97
147.02
86.48
140.16
137.23
134.51
78.30
76.24 76.86
50.66 30.48
24.50 24.67 25.58
43.82 43.91 42.72 43.47 23.73
19.10
31.66 14.33 14.71 14.07 15.29
26.87 26.37 24.26 26.13
16.95 17.54 18.46 17.34 19.00 9.40 9.79 10.60 10.29 11.38
1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
Brent Government Take Lifting Cost
o 1Q11 vs. 4Q10 Comparison:
o Lifting cost increased due to higher expenses with well intervention and scheduled stoppages;
o Higher government take due to higher reference oil price.
11
12. OIL PRODUCTS AND NATURAL GAS SALES IN
DOMESTIC MARKET
OIL PRODUCTS NATURAL GAS
2.052 1.968 363
1.851
578 OTHERS 125 291
525
505 257
Thous. bpd
46 Thermal
219 30
208 LPG
203
414 439 GASOLINE
410
227 238 245 Non thermal
733 841 796 DIESEL
1Q10 4Q10 1Q11
1Q10 4Q10 1Q11
o Domestic oil products sales increased 6% in the 1Q11 vs 1Q10 comparison, due to the Brazilian economy growth;
o Jet Fuel sales increased 18% in the 1Q11 vs. 1Q10;
o Natural Gas sales increased 13% (1Q11 vs 1Q10), due to industrial and power generation demand.
12
13. OPERATING RESULTS – BRAZILIAN REFINING
Crude Oil Processed Oil Products Production Utilization Factor and
Thous. Barrels/day Thous. Barrels/day % Brazilian Oil Throughput
2.000 2.100
100
1,852 6.4%
1,738 1,877
1.800 1,765
1.800 95
332
1.600
341 424 89.8
1.500
418 90
1.400 86.2
244 85
1.200 239 82.1
1.200 80.4
1.000 80
390
900 353
800
1,520 92 75
1,397 73
600 600
70
400 6.5%
682 727
300
200 65
- 0 60
1Q10 1Q11 1Q10 1Q11 1Q10 1Q11
Imported Oil Processed
Diesel Jet Fuel Gasoline Utilization Factor - Brazil (*)
Brazilian Oil Processed
Brazilian Oil Throughput
Fuel Oil Others
o Increase in crude oil processed in the 1Q11 due to revamps and refining expansions during 2010. Schedule stoppages
in the 1Q10 also contributed to the increase.
(*) Utilization Factor reached 92.1% in March/2011 13
14. OPERATING INCOME 1Q11 vs 4Q10 (CONSOLIDATED)
(R$ Million)
1,016 627 (188) 12,536
10,773 308
4Q10 Sales COGS Expenses Other 1Q11
Operating Revenues Expenses Operating
Income Income
o Positive effect on COGS due to inventories built at lower prices in the 4Q10 (R$ 1.2 billion);
o Decrease in Expenses due to lower exploratory costs (R$ 425 million) and SG&A expenses (R$ 210 million).
14
15. NET INCOME 1Q11 vs 4Q10 (CONSOLIDATED)
(R$ Million)
1,763 96 (112) (1,189)
10,602 (175) 10,985
4Q10 Operating Financial Interest in Taxes Minority 1Q11
Net Income Income Results Investments Interest Net Income
o Higher income taxes due to lower tax benefit from Interest on Capital in the 1Q11 (R$ 754 million).
15
16. EXPLORATION AND PRODUCTION
Operating Income 1Q11 vs 4Q10
(R$ Million)
3,983 (815) (786) 388 (507) 14,142
11,879
4Q10 Price Effect Volume Effect Cost Effect Volume Effect Operat. 1Q11
Operat. on Revenues on Revenues on COGS on COGS Expenses Operat.
Income Income
o Negative volume effect due to lower sales/oil transfers to Downstream;
o Increase in COGS due to higher lifting costs and government take.
o Higher lifting costs partially offset by lower DD&A ( ‐ R$ 1,01 per barrel);
16
17. DOWNSTREAM
Operating Income 1Q11 vs 4Q10
(R$ Million)
2,676 (1,497)
(4,690)
1,508
1,466 43 (494)
4Q10 Price Effect Volume Effect Cost Effect Volume Effect Operat. 1Q11
Operat. on Revenues on Revenues on COGS on COGS Expenses Operat.
Income Income
o Positive price effect due to higher oil and oil products prices, especially reflected on exports;
o Sales of oil and oil products inventories built at lower prices in the 4Q10 avoided higher increase in COGS.
17
18. GAS & POWER, INTERNATIONAL and
DISTRIBUTION (1Q11 vs 4Q10)
(R$ Million)
1Q11 VS. 4Q10
Gas & Power
Operat. Income: R$ 745 R$ 529 41%
o Higher average market prices of natural gas and reduction of
acquisition/transfer costs of domestic gas;
o Lower LNG imports and consumption volume;
o Commercialization margins gains on power energy, due to average
cost reduction at the spot market.
International
1Q11 VS. 4Q10
Operat. Income: R$ 903 R$ 272 232%
o Earnings increased due to higher commodities prices;
FPSO Campo de Akpo
o Lower exploratory expenses and dry wells write-offs also contributed to a better
result.
Distribution
1Q11 VS. 4Q10
Operat. Income: R$ 559 R$ 443 26%
o 6% increase in commercialization margins offset by 7% reduction in
sales volume;
o This increase was compensated by the 7% reduction in sales volumes.
18
19. INVESTMENTS 1Q2011 vs 1Q2010
1Q2011 1Q2010
R$ 15.9 billion R$ 17.8 billion
(R$ billion) (R$ billion) Others
Others*
0.8 0.6
Inter ‐ 0.9 Inter ‐ 1.5
G&P* ‐ 1.0
E&P* G&P* ‐ 2.4 E&P*
7.2 7.9
RTM*
6.0 RTM*
5.4
o E&P: Decreased investments as a result of reduced exploration expending for the quarter;
o RTM: Expansion (33%), quality (37%) and others (30%);
o G&P: Complementary phase of investments, after massive infrastructure built.
*Includes projects developed by SPEs 19
20. LEVERAGE
Net Debt/Net Cap. Net Debt/Ebitda
6 40%
5
34% 30%
4 32% 16% 17% 17%
3 20%
1.52
2 1.35 1.03
0.94 1.03
10%
1
0 0%
1Q10 2Q10 3Q10 4Q10 1Q11
R$ Billion 03/31/11 12/31/10
Short Term Debt 16.6 15.7
o Petrobras` Leverage level kept stable
Long Term Debt 112.4 102.2
when compared 1Q11 VS 4Q10;
Total Debt 129.0 117.9
Cash and Cash Equivalents 43.3 30.3 o QoQ higher long term debt is
Tradeable Securities 19.6 25.5 explained by bonds issuance ( US$ 6
Adjusted Cash and Cash Equivalents 62.9 55.8 billion), last January.
Net Debt 66.1 62.1
Net Debt/Ebitda 1.03X 1.03X
US$ Billion 03/31/11 12/31/10
Net Debt 40.6 37.3
20