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 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.
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.
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.
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
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 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.
Petrobras is a Brazilian integrated energy company involved in oil exploration, production, refining, transportation and more. It achieved leadership in deepwater operations and plans to double oil production in Brazil by 2020. In 2013, Petrobras produced over 2 million barrels of oil per day, with pre-salt production increasing 79%. It also refined over 2 million barrels of oil per day and transported over 59 million tons of oil and oil products via pipelines and ships. Petrobras continues investing heavily in expanding its operations, with 28 new platforms planned for 2014-2018 that will add over 1 million barrels of daily production capacity.
Petrobras reported financial results for the 4th quarter and full year 2013. Key highlights include:
- Oil and gas production in Brazil declined 2.5% year-over-year to 1,931 kbpd due to delays in new projects coming online.
- Oil product sales increased 4% to 2,383 kbpd due to higher refining output and reduced imports.
- Net income increased 11% to R$34.4 billion driven by higher oil prices and asset sales, partially offset by increased debt expenses.
- EBITDA grew 18% to R$63 billion mainly from price adjustments and lower exploration costs.
- Investments totaled R$104.4 billion, up 24
OPERATIONAL AND FINANCIAL
RESULTS - 1st Quarter 2014
Conference Call / Webcast
May 12th 2014
1Q14 Results
8% increase in Operating Income. 14% reduction in Net Income relative to 4Q13
Higher Operating Income due to the full effect during the 1Q14 of the oil products price adjustments and the lower share of
imported diesel in sales, negatively impacted by the provision for PIDV. Net income was lower due to the impact of the fiscal
benefit from interest on capital of R$ 3.2 billion, that occurred in the 4Q13.
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.
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
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 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.
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.
This document provides an update on Brazil's pre-salt oil and gas reserves. It summarizes key developments including increasing production from pre-salt fields in the Campos and Santos basins through expanded drilling and new production units coming online. Production has ramped up significantly from initial test wells to over 700,000 barrels per day currently. New technologies have been applied including deeper wells and new types of risers. Pre-salt fields provide competitive production costs and represent Brazil's role in global energy supply.
2015-2019 Business and Managment Plan-press-conferencePetrobras
The document outlines Petrobras' 2015-2019 Business and Management Plan which aims to deleverage the company and generate value for shareholders. Key targets include reducing net debt/EBITDA ratio below 3.0x by 2018 and 2.5x by 2020. Investments will be reduced 37% to $130.3 billion with 83% going to exploration and production. Oil and gas production in Brazil is projected to reach 2.8 million boe/day by 2020. Challenges include market volatility, achieving production targets, and successful divestments.
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.
The document announces Petrobras' 2nd quarter 2015 results. Net income decreased 90% from the previous quarter to R$0.5 billion due to higher interest expenses, exchange rate variations, and a R$3.1 billion tax liability. Operating income fell 29% as production and oil product sales increased but costs also rose. Impairments of R$1.3 billion were recorded for various assets. Full-year capex and production targets were maintained while cash flow improved significantly in the quarter.
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.
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
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.
- 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 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.
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 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.
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.
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.
The document summarizes Petrobras' financial results for the second quarter of 2009. It notes a 6% increase in oil and gas production compared to the previous quarter due to production boosts from several platforms. Exploration and production activities are increasing in the pre-salt region with new wells and rigs. Lifting costs remained stable while oil prices rose between the quarters. Overall the company saw significant improvements in operating income and net income compared to the previous quarter.
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.
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.
- Occidental Petroleum reported lower net income and core earnings for Q4 2008 compared to Q4 2007, due to lower oil and gas prices and higher operating expenses. However, full year 2008 was highly profitable, with record annual earnings.
- For Q4 2008, daily oil and gas sales volumes were up slightly from the previous year, but earnings from oil and gas operations declined significantly due to lower commodity prices.
- While Q4 results suffered from market conditions, Occidental emphasized that 2008 was still a very strong year overall and that they will invest $3.5 billion in 2009 to continue growth, despite volatile prices.
The document discusses petroleum taxation in Trinidad and Tobago. It outlines various production and profit-based taxes on petroleum operations including royalties, supplemental petroleum tax, green fund levy, petroleum profits tax, and unemployment levy. It also discusses capital allowances and provides an example calculation of taxes for a petroleum project over multiple years.
150825 2015 half year results 2 pp-1a82e52f-ff49-4a17-9cc5-e5f333a6d5a5-0absmartkarma
Oil Search Limited reported its 2015 Half Year Results. Key highlights included record half year production of 14.3 mmboe, nearly triple the production in 1H14. Net profit was up 49% to US$227.5 million due to the full period of LNG and condensate sales from the PNG LNG Project. The interim dividend was tripled to 6 US cents per share and the company maintained its full year production guidance despite lower oil prices.
200215 Santos 2014 full year results presentationSantos Ltd
Santos today announced a 2014 underlying net profit of $533 million, up 6 per cent on the previous year.
Full-year highlights
•Production up 6% to 54.1 mmboe
•Sales revenue up 12% to $4 billion
•EBITDAX up 8% to $2,153 million
•Operating cash flow up 13% to $1,843 million
•PNG LNG start-up ahead of schedule with the project shipping 55 LNG cargoes in the year
•GLNG more than 90% complete and on track for first LNG in the second half of 2015, within budget
•Final dividend maintained at 15 cents per share, bringing the full-year dividend to 35 cents per share, up 5 cents
- Petrobras provides an update and adjustments to its 2015-2019 Business and Management Plan.
- Key targets include reducing net debt, lowering net leverage below 40% by 2018 and 35% by 2020, prioritizing oil production in Brazil with a focus on pre-salt layers, and generating value for shareholders through capital discipline.
- Investments are reduced by 37% compared to the previous plan, with most funds going to exploration and production, particularly in pre-salt areas of Brazil. Production is expected to increase through new offshore systems coming online over the next few years.
Royal Dutch Shell reported third quarter 2008 earnings of $10.9 billion, up 71% from the prior year quarter. Exploration & Production earnings were $5.5 billion, up 65% due to higher oil and gas prices partly offset by lower production volumes. Production was down 7% to 2.85 million barrels of oil equivalent per day due to hurricane impacts in the Gulf of Mexico and maintenance turnarounds in the North Sea. The company also acquired Duvernay Oil Corp, a Canadian tight gas company, for $5.5 billion during the quarter.
OxyChem reported lower core earnings in 4Q08 compared to 4Q07, driven by lower oil and gas prices. Core oil and gas earnings were down $1.5 billion due to a $1.4 billion decline from lower sales prices, partially offset by higher sales volumes. Chemical earnings improved due to higher caustic soda margins. Oxy expects to replace 150% of its 2008 oil and gas production and will reduce its 2009 capital budget to $3.5 billion to focus on high-return projects given current prices. Oxy also expects to lower costs through supplier negotiations and overhead reductions.
The document provides results highlights for Petrobras' 3rd quarter 2015. Key points include:
- Oil, natural gas, and NGL production increased 1% compared to the previous quarter.
- Free cash flow was R$3.8 billion for the quarter.
- Net income declined significantly to a loss of R$3.8 billion due to higher exchange rate losses on foreign debt and higher legal contingencies.
- Domestic oil product sales volumes increased slightly while oil product exports declined.
Tereos Internacional reported financial results for the first quarter of 2010/11. Net revenues were R$1.1 billion, down 13.1% due to currency effects but up 2.1% excluding currency. EBITDA was R$113 million, down 43.5% due to currency effects and non-recurring items in Brazil. Production reached records in Brazil while segments were impacted by currency effects, maintenance, and testing new raw materials. The company aims to accelerate growth through recent acquisitions and partnerships.
Tereos Internacional Q1 10/11 Earnings PresentationAlexandre Menezio
Tereos Internacional reported financial results for the first quarter of 2010/11. Key highlights included record sugar and ethanol production in Brazil but lower revenues and EBITDA impacted by currency effects and non-recurring costs. Revenues were down 13.1% reported but up 2.1% at constant currency. EBITDA fell 43.5% due to a R$196 million currency impact and R$32 million in non-recurring costs in Brazil. The company saw a reduction in net debt of R$91 million despite acquisitions. Segment results were mixed with strong production in Brazil offset by currency impacts in other segments. Key markets showed signs of recovery in demand.
Using P/E basis, at the CMP the stock quotes at a FY16 P/E of 10.3. We think investors could buy the stock on dips to Rs.365 – Rs.384 band (~9.5-10.00x FY16E EPS and ~5.25-5.5xFY16 EV/EBITDA) for target of Rs.422 (~11.0x FY16E EPS and ~6x FY16 EV/EBITDA) over the next 1 quarter.
- Net revenues increased 14.5% quarter-over-quarter and 10.3% year-over-year due to higher refractory sales in the domestic market to the steel industry.
- Gross and EBITDA margins improved due to management's focus on cost control.
- Tax benefits resulted from mergers in 2008 and the sale of non-core assets led to non-operating revenue of R$54.2 million.
Fourth quarter production of 15.1 mmboe - 15% higher than the corresponding quarter - brought full-year production to 54.1 mmboe. This was a 6 per cent increase on the previous year and within the company’s guidance range of 53-55 mmboe.
“Notwithstanding the fall in oil prices, Santos has delivered growth in full-year and quarterly production, and record sales revenue,” Santos Managing Director and Chief Executive Officer David Knox said.
“These results affirm the strength of Santos’ underlying business, the transformation of our operations and the positioning of the company as a major player in the Asian LNG market.”
“We look forward to further growth in 2015 with the start-up of GLNG in the second half of this year.”
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.
7 Ways to Verify the Legitimacy of DHS Ventures with Fernando Aguirre Guidanc...Fernando Aguirre DHS
Discover how DHS Ventures & Holdings, led by Fernando Aguirre, ensures legitimacy in corporate acquisitions, such as their recent purchase of Carolco Enterprises. This presentation explores seven crucial steps to verify their credibility, from thorough background research and financial transparency to industry reputation and strategic vision. Learn how DHS Ventures navigates regulatory compliance and consults with experts to maintain ethical standards and achieve long-term goals in global film production. Gain insights into their leadership and commitment to transparency in corporate transactions. Is DHS Ventures Legit? Find out through this comprehensive exploration of their practices and principles.
PEACE COIN Community Relations Report_EN_2024PEACE COIN
Our Community Relations Report 2024 is now available
We have released the Community Relations Report 2024, "'A Structure for Visualizing the Circulation of Social Capital."
This report provides a clear and concise introduction to the features of PEACE COIN, its future direction, and case studies of communities that have adopted it.
2. 1
Disclaimer
The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of
the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan",
"project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts.
These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company.
Therefore, the future results of operations may differ from current expectations, and readers must not base
their expectations exclusively on the information presented herein. The Company is not obliged to update
the presentation/such forecasts in light of new information or future developments.
American Investors
The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the
SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible under existing economic and operating conditions. We
use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly
prohibit us from including in filings with the SEC.
3. 2
NATIONAL PRODUCTION OF OIL, LNG & NATURAL GAS
Δ = 3%
2.074 2.059 2.120
274 277
304
1, 782 1, 816 1, 800
2300.0
2100.0
1900.0
Thousand bpd
1700.0
1500.0
1300.0
1100.0
900.0
700.0
500.0
300.0
1Q07 4Q07 1Q08
• Increase of 2% in the oil production
motivated by the production growth of
FPSO Cidade de Vitória (Golfinho) and of
the platforms P-52 and P-54 (Roncador).
• Natural Gas production increased by
10%. Also, an increase of the of the non
associated gas production of the Peroá
Campus (Espírito Santo) and of the new
gas associated systems of production.
• New 2008 target: 1,950 th. bpd (± 2,5%)
Contribution of the new production systems to Oil and LNG Production (thous. bpd)
Unit 4Q 07 1Q 08 Change
FPSO-Cidade do Rio de Janeiro 56 59 3
FPSO- Piranema 7 7 -
FPSO-Cidade de Vitória 14 28 14
P-52 15 53 38
P-54 7 43 36
4. 7 Million m3 of
additional Natural
Gas supply
3
Natural Gas Supply and Demand
57.94
28.70
43.43
21.77
1Q07 1Q08
Natural Gas Demand National Gas Supply
Million m3
• 33% increase in natural gas demand when compared to the 1Q07, due to the increase in industrial
market substitution of fuel oil and higher thermal dispatch;
• Increase in market partly supported by the increase in domestic gas supply (32%) due to higher
non-associated natural gas production in the Peroá field (Espírito Santo) and in the new production
systems. Additional supply from increased production from Bolivia.
* Includes internal consumption in refineries Petrobras’ thermo plants.
5. 4
REFINING IN BRAZIL AND SALES IN THE DOMESTIC MARKET
Thous. bpd %
1.8 0 2
1.78 1 1.79 6 1.79 5 1.776 1.776
1.76 8
1.70 9
1.6 4 6
1.70 3
9 1 9 0
8 9
9 0
8 9
77 78 78 78 79
1.950
1.800
1.650
1.500
1Q07 2Q07 3Q07 4Q07 1Q08
90
80
70
60
50
40
Out put of Domest ic Oi l P r oduct s S ales Volume of Tot a l Oi l P r oduct s
Use of I nst a l l e d Capaci t y - Br az i l (%) Domest i c Crude (%) of Tot al Feedst ock P rocessed
• Reduction of the processed feedstock and of the output of domestic oil production as a result of
scheduled stoppages in Replan (march/08);
• Reduction of the sales of oil products as a result of seasonality, specially diesel sales.
6. 5
OIL AND OIL PRODUCTS IMPORTS AND EXPORTS
624 592
670
575 572
437
569 613
536 579
800
700
600
500
400
300
200
100
0
1Q07 2Q07 3Q07 4Q07 1Q08
Exports Imports
Thousand Bpd
• Decrease trend in trade balance due to the increase in internal consumption, mainly diesel; delay in
domestic productions increase; larger consumption in thermo plants; and increase in inventories,
related to scheduled stoppages in Replan.
• US$ 775 million financial deficit in the 1Q08 due to imports light oil and diesel, which have higher value
than heavy oil and fuel oil exports.
8. 7
Tupi TLD - Unit of Production
FPSO – Leased*
Water Depth 2.170 m
30,000 bpd
28 – 42 º API
1 Oil Production
Capacity
Capacity to Process Oil
Oil Range
Wells
Flare Capacity 1000 thous. m3
Riser to export Gas 1
1st Oil: march/2009
* Leased from BW Offshore
9. 8
Capacity
Water Depth 2.145 m
100,000. bpd
Capacity to Process Oil
Oil degree 20 – 30 º API
5 oil production (+4 extra)
2 water injection (+3 extra)
1 gas injection (+1 extra)
Wells
100 mil bpd
60 mil bpd
Water Injection
Water Production
4 million m3 /d
Capacity of Gas
Compression
Tupi Pilot - Unit of Production
1º Óleo: dez/2010
10. 9
Pré-Sal Rigs
West Eminence
West Taurus West Orium
Destiny
WEST 2009 Until 3049m TUPI
6 years
EMINENCE
WEST 2009 Until 3049m TUPI
6 years
TAURUS
WEST 2010 Until 3049m CARIOCA
6 years
ORIUM
Generation
6th
5th
5th
Construction
SUNSUNG/
CORÉIA DO SUL
JURONG/
CINGAPURA
JURONG/
CINGAPURA
Contract
Period
Rig Date Water Depth
11. 10
E&P – OIL PRICES
US$ 10,77
1Q08
86,13
1Q07
47,79
96,9
57,75
Average Sale Price Brent (average)
US$/bbl
US$ 9,96
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
• Increase in the average oil sales price / transfer of E&P oil aligned to the international market.
• Maintenance of differential in price around US$ 10 due to difference of Brazilian oil quality (heavy) and
Brent (light).
12. US$/barrel R$/barrel
15,20 14,45 14,66 15,22 15,16
11
18,92 20,58 23,26
25,76 28,04
50
40
30
20
10
0
1Q07 2Q07 3Q07 4Q07 1Q08
Lifting Cost (R$) Gov. Part.(R$)
68,8 74,9
57,8
20,13
17,95
9,04 10,62 12,48
88,7
96,9
14,56 16,16
7,20 7,33 7,65 8,60 8,66
40
30
20
10
0
1Q07 2Q07 3Q07 4Q07 1Q08
120
100
80
60
40
20
0
Lifting Cost (US$) Gov.Part. (US$) Brent
37,92
35,03
23,16
40,98
24,82
43,20
LIFTING COST IN BRAZIL
16,24
34,12
Lifting Cost relatively stable both in Dollar and Reais terms despite higher oil prices and continued ramp
up of new production units. Government participation increased as a reflect of higher international crude
oil prices.
13. 12
AVERAGE REALIZATION PRICE - ARP
120
100
80
60
40
20
1Q08
Average
4Q07
Average
89,08
1Q07
Average
71,50
Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08
ARP Brazil (US$/ bbl) Average B rent Price(US$/ bbl) ARP (US$/ bbl with V ol. Sold in BRl)
104,25
96,90
93,90
96,77
88,69
68,86
57,75
• Up to 4Q07, ARP in Brazil affirmed our policy of aligning the domestic prices with international prices in
the mid/long term;
• From 4Q07, due to a sustained increase in international prices, the spread between prices in Brazil and
in USA led to the readjustment of diesel (15%) and gasoline (10%) prices effective as of may 2nd.
14. 13
Domestic Oil, NGL and Condensate – thousand bpd
1.782 1.816
5.053
1.475 685
1.365
1.090 1.613
240 6.925
4Q07 Net
Income
Revenues COGS Oper. Exp. Fin. and non
oper. expenses
Taxes Minority Inter.
and Particip. in
Equity Income
and Employee
Part.
1Q08Net
Income
NET INCOME CHANGE – R$ Million (1Q08 VS 4Q07)
Consolidated net income was affected by:
• Increase in Revenues: higher sales prices;
• Decrease in operating expenses: lower exploratory costs and, non occurrence of provision for losses
abroad already accrued in 4Q08;
• Decrease in net financial expenses: lower appreciation of Real applied to foreign assets;
• Increase in Income Taxes and Contributions: net income in 1Q08 did not obtain fiscal benefits due to
payment of interest on equity in the fourth quarter, 2007 .
15. Exploration & Production – Change in Operating Profit– R$ million – 1Q08 Vs. 4Q07
14
Domestic Oil, NGL and Condensate – thousand bpd
1.782 1.816
12.799
1.682 45 70 19 29 14.496
Oper. Profit
4Q07
Price Effect
on Revenue
Volume Effect
on Revenue
Cost Effect
On COGS
Volume Effect
On COGS
Operc.
Expenses
Oper. Profit
1Q08.
• Better E&P operating result: due to increase in production (2%) and higher international
prices;
• The volume effect on revenue reflects the smaller number of days in the quarter (effect on
total production accumulated in the period).
16. 15
Downstream – Change in Operating Profit – R$ million - 1Q08 Vs. 4Q07
478
4.204
5.570
85
(903)
2.358
2.458
4Q07 Oper.
Revenue
Price Effect on
Revenue
Volume Effect
on Revenue
Cost Effect Volume Effect
Oper. Loss
On average
on average
COGS
COGS
Operational
Expenses
1Q08
• Reduction in downstream margins as a result of the increase in oil price ;
• Seasonal decrease in volumes sold;
• Partially compensated due to elevation in the average sales price of oil products (5% quarter over
quarter) and due to realization of inventories formed at a lower cost in the former quarter.
17. International – Change in Operating Profit – R$ Million - 1Q08 Vs. 4Q07
111 108
Domestic Oil, NGL and Condensate – thousand bpd
• Results were impacted positively as a result of the decrease in operating expenses: lower expenses with
exploration due to lower write offs of dry holes in US and Colombia and the absence of impairments that
occurred in 4Q07 (R$401 million) .
16
(756) 651 1.419
512
844
1.358
166
1Q08
Oper. Profit
4Q07
Oper. Loss Cost Effect
On average
COGS
Volume Effect
on average
COGS
Operating
Expenses
Volume Effect
On Revenue
Price Effect
on Revenue
18. 17
Gas & Power –– Change in Operating Profit – R$ Million - 1Q08 VS 4Q07
(756)
577
363
40
(502)
174
174
4Q07
Operating Loss
Price effect on
Net Revenue
Volume Effect
on Net
Revenue
Cost Effect on
COGS
Volume Effect
on COGS
Operating
Expenses
1Q08
Operating Loss
• New contracts with the local gas distribution companies and higher market prices for electricity;
• Increase in natural gas sales;
• Increase in generated electricity and in January we started receiving income from the capacity sold under
the 2005 auction;
• increase in the cost of goods sold due to higher cost of gas charged to us by our E&P segment.
19. 18
Cash Flow
1Q08 4Q07 1Q07
R$ million
Net Cash Generated by Operating Activities 9,771 11,356 7,693
(-) Cash used for Capex (10,070) (13,916) ( 8,151)
(=) Free Cash Flow (299) (2560) (458)
(-) Cash used in Financing Activities ( 1,212) 1 ,415 ( 6,908)
Financing 2,862 1,417 (1,035)
Dividends (4,074) (2) (5,873)
(=) Net Cash Generated in the Period ( 1,511) (1,145) ( 7,366)
Cash at Beginning of Period 1 3,071 14,216 27,829
Cash at End of Period 1 1,560 13,071 20,463
• Ongoing Capex and Payment of Interest on Capital led to moderate increase in net debt.
20. 19
21%
19%
LEVERAGE
17%
16%
19% 19%
Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08
Net Debt/ Net Capitalization
Petrobras’ Leverage Ratio
R$ million ´03/31/2008 12/31/2007
Short Term debt (1) 7,639 8,960
Long Term Debt (1) 35,674 30,781
Total Debt 43,313 39,741
Cash and Cash Equivalents 11,560 13,071
Net Debt (2) 31,753 26,670
• Capitalization ratio still below the 25% to 35% target.
(1) Includes debt from leasing contracts (R$ 1,608 million on mar/08 and R$ 1,433 million on dec/07).
(2) Total debt less cash and cash equivalents
21. 20
QUESTION AND ANSWER SESSION
Visit our website: www.petrobras.com.br/ri
For more information contact:
Petróleo Brasileiro S.A – PETROBRAS
Investor Relations Department
Theodore Helms – Executive Manager
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 – 22o floor
20031-912 – Rio de Janeiro, RJ
(55-21) 3224-1510 / 3224-9947