PBR » Topics » CHANGES 2Q-2006 X 1Q-2006 Main Influences

This excerpt taken from the PBR 6-K filed Aug 14, 2006.

CHANGES 2Q-2006 X 1Q-2006
Main Influences

      R$ Million 
 
Main Items    Net    Cost of    Gross 
  Revenues    Goods Sold    Income 
 
. Domestic Market:  - Effect of Volumes Sold    511    (339)                172 
  - Effect of Prices    312                         -                 312 
. Intl. market:  - Effect of Export Volumes    (764)   346    (418)
  - Effect of Export Price    442                         -                 442 
. Increase Expenses (*):                     -    (888)   (888)
. Increase in Profitability of Distribution Segment    132    (119)   13 
. Increase (Decrease) Operations of Commercialization Abroad    748    (781)                (33)
. Increase (Decrease) in International Sales    300    (357)                (57)
. FX Effect on Controlled Companies Abroad    (29)   22    (7)
. Others      410    500                 910 
         
      2,062    (1,616)                446 
         

(*) Expenses Composition:    Value 
- Oil, Gas and Oil Product Imports    (815)
- Third-Party Services    28 
- Domestic Government Take    (438)
-Transportation: Mritime and Pipelines    25 
- Salaries, Perquisites and Benefits    131 
- Materials, Services and Depreciation    181 
   
    (888)
   

The increase in operating income was partially offset by an increase in the following expenses:

  • General and Administrative (R$ 229 million), due to: the increase in personnel spending, principally as a result of the increase in the workforce (R$ 38 million); spending for information services and environmental management (R$ 46 million); spending for personnel training (R$ 23 million); increase of operations (R$ 22 million); and higher consulting costs related to new exploratory projects (R$ 24 million).

  • Research and Development (R$ 253 million) mainly to comply regulatory demands from ANP (R$ 203 million).

  • Other Operating Income and Expense, due to Contingency provisions (R$ 103 million), as well as expenses relating to institutions and cultural projects (R$ 40 million).

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A positive impact of R$ 303 million on the net financial results is mainly due to the improvement in the net financial results from reduced losses associated with monetary assets and liabilities (R$ 220 million), as a result of the lower appreciation of the real in the 2Q-2006 (0.37%) compared to the 1Q-2006 (7.19%) .

Reduction in the loss with exchange rate variation (R$ 375 million) calculated on stockholders’ equity from companies headquartered outside of Brazil, as a result of the lower appreciation of the real against the U.S. dollar in the 2Q-2006 (0.37%) versus the 1Q-2006 (7.19%);

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PETROBRAS SYSTEM  Operating Performance 
     

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