This excerpt taken from the PBR 6-K filed Sep 9, 2009.
Cash from operating activities, measured by adjusted EBITDA, remained closer to 2008 levels, decreasing 26.0% to U.S.$13,559 million in the first half of 2009 compared to U.S.$18,312 million in the first half of 2008.
Total domestic and international oil and gas production increased 1.7% in the second quarter of 2009 compared to the first quarter of 2009, and 5.8% year-on-year in the first half of 2009. Increased output from the P-52 and P-54 (Roncador) platforms, together with the start-up of the P-51 (Marlim Sul) and P-53 (Marlim Leste) platforms, more than offset the natural decline in mature fields.
We invested a total of U.S.$14,271 million in the first half of 2009, 48.0% of which was used to expand future oil and gas production capacity, our investment priority. In percentage growth terms, the leaders were the Supply and Gas and Energy Segments, where capital was allocated to refinery investments and to expand Brazil´s gas pipeline network.