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PBR » Topics » Our cost efficiencies created by our large scale operations combined with our vertical integration within each of our business segments

This excerpt taken from the PBR 20-F filed Jun 30, 2005.

Our cost efficiencies created by our large scale operations combined with our vertical integration within each of our business segments

 

As the dominant integrated crude oil and natural gas company in Brazil, we can be cost efficient as a result of:

 

  •   the location of over 80% of our proved reserves in large, contiguous and highly productive fields in the offshore Campos Basin, which allows for the concentration of our operational infrastructure, thereby reducing our total costs of exploration, development and production;

 

  •   the location of most of our refining capacity in the Southeast region, directly adjacent to the Campos Basin and situated within the country’s most heavily populated and industrialized markets; and

 

  •   the relative balance between our current production of 1.5 million barrels per day, our refining throughput of 1.7 million barrels per day and the Brazilian market total demand for hydrocarbon products of 1.8 million barrels per day as of December 2004.

 

We believe that these cost efficiencies created by our integration, our existing infrastructure and our balance allow us to compete effectively with other Brazilian producers and importers of oil products into the Brazilian market.

 

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