|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PBR 6-K filed Sep 9, 2009. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. The improved result from our Gas and Energy segment was due to the lower costs for purchasing electricity from third parties to fulfill our contractual commitments, as well as a reduction in fines paid for failure to deliver contracted amounts of electricity attributable to improvements in our natural gas infrastructure and increased supply of natural gas. These effects were partially offset by reduced thermoelectric output as a result of abundant rainfall supplying Brazil’s hydroelectric power plants, and a decline in natural gas sales volume. 11
This excerpt taken from the PBR 6-K filed Jun 1, 2009. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. The improved result for our Gas and Energy segment in the first quarter of 2009 compared to the same period of 2008 was due to a reduction in fines paid for failure to deliver contracted amounts of electricity attributable to improvements in our natural gas infrastructure and increased supply of natural gas, as well as lower costs for purchasing electricity from third parties to fulfill our contractual commitments. These effects were partially offset by reduced thermoelectric output as a result of abundant rainfall supplying Brazil’s hydroelectric stations, and a decline in natural gas sales volume. 11 This excerpt taken from the PBR 20-F filed May 22, 2009. Gas
and Energy
Our Gas and Energy segment consists principally of the purchase,
sale, transportation and distribution of natural gas produced in
or imported into Brazil. Additionally, this segment includes our
participation in domestic natural gas transportation, natural
gas distribution and thermoelectric power generation.
Our Gas and Energy segment registered net loss of
U.S.$834 million for 2007 compared to net loss of
U.S.$505 million for 2006.
This increase in our net loss was primarily attributable to:
78
Table of Contents
These effects were partially offset by a U.S.$822 million
increase in net operating revenues as a result of:
This excerpt taken from the PBR 6-K filed Mar 30, 2009. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. Net loss for our Gas and Energy segment decreased as a result of higher margins in our natural gas and electricity business, reflecting higher sales prices and increased electricity and natural gas sales volumes in 2008 compared to 2007. These effects were partially offset by an allowance for the reduced market value of our NGL inventory. 13
This excerpt taken from the PBR 6-K filed Nov 28, 2008. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. Net loss for our Gas and Energy segment decreased as a result of higher margins in our natural gas business and increased electricity and natural gas sales volumes in the nine-month period ended September 30, 2008, as compared to the same period of 2007. These effects were partially offset by the contractual charges related to natural gas supply. 12
This excerpt taken from the PBR 6-K filed Sep 4, 2008. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. The net loss from Gas and Energy decreased as a result of the higher margins in natural gas business and also the increase of electricity sales volume in the first half of 2008, as compared to the first half of 2007. These effects were partially offset by the contractual charges related to natural gas supply. 10
This excerpt taken from the PBR 6-K filed May 22, 2008. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. The net loss from Gas and Energy increased by US$146 million in the first quarter of 2008, as a result of contractual charges related to natural gas supply and tighter margins in the electricity business. These effects were partially offset by the upturn in electricity and gas sales volume and higher average gas prices. 11
This excerpt taken from the PBR 6-K filed Mar 18, 2008. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic natural gas transportation, natural gas distribution and thermoelectric power generation. Our Gas and Energy segment registered a net loss of U.S.$834 million for 2007, as compared to a net loss of U.S.$505 million for 2006. This increase in our net loss was primarily attributable to: • a U.S.$890 million increase in cost of sales, primarily due to higher natural gas costs; and • an increase of U.S.$257 million in other operating expenses, mainly attributable to a U.S.$240 million expense related to the payment of contractual fines related to gas and electricity supply. These effects were partially offset by an increase of U.S.$822 million in net operating revenues as a result of: (1) the increase in average sales price of natural gas; and (2) an increase in natural gas sales volume of 2.1% . 10
This excerpt taken from the PBR 6-K filed Dec 21, 2007. Gas and Energy - In 2008, the Company will continue to focus its investments on the bio-fuels production area to consolidate bio-diesel production technology and the basic project for the first industrial unit. The Company expects to see a significant increase in ethanol production per hectare of planted sugar cane thanks to progress in tests at the pilot plant for developing ethanol production technology from biomass residue. - Petrobras will also be dedicating continuing research into the production of high performance clean sulfur/aromatics-free diesel technology from biomass. This diesel fuel, totally vegetable oil-based, enables the use of waste from the alcohol industry (straw, bagasse), from castor oil beans, cashew nuts and similar, known as second generation biofuels. A pilot plant is scheduled to come on stream in early 2009. - In the environmental area, Petrobras will begin work on its first carbon sequestration project through the geological capture and storage of CO2 at a site in the Recôncavo Baiano region. This technology will make a contribution to the mitigation of climate change. - Investments will also go to projects for the development of innovative technologies for the transportation of associated gas produced together with oil at Petrobras platforms. This excerpt taken from the PBR 6-K filed Nov 29, 2007. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our Gas and Energy segment registered a net loss of U.S.$ 502 million for the nine-month period ended September 30, 2007, as compared to a net loss of U.S.$ 371 million for the nine-month period ended September 30, 2006. This increase in our net loss was primarily attributable to:
These effects were partially offset by an increase of U.S.$ 395 million in net operating revenues as a result of the increase in average sales price of natural gas; and the 8.3% increase in the value of the Real against the U.S. dollar in the nine-month period ended September 30, 2007, as compared to the nine-month period ended September 30, 2006. 10
This excerpt taken from the PBR 6-K filed Sep 6, 2007. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our Gas and Energy segment registered a net loss of U.S.$ 214 million for the first half of 2007, as compared to a net loss of U.S.$ 136 million for the first half of 2006. This increase in our net loss was primarily attributable to a U.S.$ 122 million increase in cost of sales, primarily related to: (1) an increase in the acquisition cost of natural gas; (2) the 2.5% decrease in natural gas sales volume; and (3) the 6.6% increase in the value of the Real against the U.S. dollar in the first half of 2007, as compared to the first half of 2006. These effects were partially offset by an increase of U.S.$ 39 million in net operating revenues as a result of the 6.6% increase in the value of the Real against the U.S. dollar in the first half of 2007, as compared to the first half of 2006. 15 This excerpt taken from the PBR 6-K filed Jun 13, 2007. Gas and Energy Our Gas and Energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our Gas and Energy segment registered a net loss of U.S.$ 144 million for the first quarter of 2007, as compared to the net loss of U.S.$ 45 million for the first quarter of 2006. This increase in the net loss was primarily attributable to the following items: a U.S.$ 150 million increase in cost of sales, primarily related to: (1) an increase in the acquisition cost of natural gas; and (2) the 3.9% increase in the value of the Real against the U.S. dollar in the first quarter of 2007, as compared to the first quarter of 2006 despite the lower energy acquisition cost, in turn caused by the rise in the reservoir levels of Brazil’s hydropower plants. These effects were partially offset by an increase of U.S.$ 90 million in net operating revenues as a result of an increase in the average price of the natural gas sold and by the 3.9% increase in the value of the Real against the U.S. dollar in the first quarter of 2007, as compared to the first quarter of 2006. 16
This excerpt taken from the PBR 6-K filed Apr 10, 2007. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 502 million for 2006, as compared to the net loss of U.S.$ 342 million for 2005. This increase in the net loss was primarily attributable to the following items:
These effects were partially offset by an increase of U.S.$ 926 million in net operating revenues as a result of: (1) a 6.6% increase in natural gas sales volumes; (2) an increase in the average price of the natural gas sold; and (3) the 10.7% increase in the value of the Real against the U.S. dollar in 2006, as compared to 2005. 17
This excerpt taken from the PBR 6-K filed Nov 28, 2006. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 371 million for the nine-month period ended September 30, 2006, as compared to the net loss of U.S.$ 168 million for the nine-month period ended September 30, 2005. This increase in the net loss was primarily attributable to the following items:
These effects were partially offset by an increase of U.S.$ 991 million in net operating revenues as a result of: (1) a 7.1% increase in natural gas sales volumes; (2) an increase in the average price of the natural gas sold; and (3) the 12.6% increase in the value of the Real against the U.S. dollar in the nine-month period ended September 30, 2006, as compared to the nine-month period ended September 30, 2005. 18
This excerpt taken from the PBR 6-K filed Sep 6, 2006. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 134 million for the first half of 2006, as compared to the net loss of U.S.$ 98 million for the first half of 2005. This increase in the net loss was primarily attributable to the following items: • a U.S.$ 598 million increase in cost of sales, primarily related to: (1) an increase in energy buying prices in the spot market; (2) a 8.3% increase in natural gas sales volumes; (3) an increase in the acquisition cost of natural gas; and (4) the 15.0% increase in the value of the Real against the U.S. dollars in the first half of 2006, as compared to the first half of 2005; and • an increase of U.S.$ 20 million in research and development expenses primarily as a result of a provision for ANP research and development investment (U.S.$ 14 million), related to regulation ANP 05/2005. These effects were partially offset by an increase of U.S.$ 609 million in net operating revenues as a result of: (1) a 8.3% increase in natural gas sales volumes; (2) an increase in the average price of the natural gas sold; and (3) the 15.0% increase in the value of the Real against the U.S. dollars in the first half of 2006, as compared to the first half of 2005. 16 
This excerpt taken from the PBR 6-K filed Jun 28, 2006. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 45 million for the first quarter of 2006, an improvement at the result of 48.3% as compared to the net loss of U.S.$ 87 million for the first quarter of 2005. This decrease in the net loss was primarily attributable to a U.S.$ 241 million increase in net operating revenues, primarily related to: (1) an increase in the average price of the natural gas sold; and (2) a 8.4% increase in natural gas sales volumes. These effects were partially offset by the following items:
16
This excerpt taken from the PBR 6-K filed Nov 23, 2005. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 201 million for the nine-month period ended September 30, 2005, as compared to a net loss of U.S.$ 177 million for the nine-month period ended September 30, 2004. This change was primarily a result of: • an increase of U.S.$ 182 million in the cost of sales, mainly attributable to a 9.3% increase in the volume of natural gas sold, reflecting the continued expansion of natural gas consumption in Brazil in the industrial, automotive and thermal generation segments; • an increase of U.S.$ 139 million in other expenses, net, primarily as a result of the increase in expenses for certain thermoelectric power plants; • an increase of U.S.$ 135 million in selling, general and administrative expenses, mainly as a result of an increase in expenses relating to personnel as well as technical and consulting services; • an increase of U.S.$ 88 million in expenses related to minority interest, due to better results reported by Transportadora Brasileira Gasoduto Bolívia Brasil – TBG, primarily due to the effect of the 16.3% appreciation of the Real against the U.S. dollar in the nine-month period ended September 30, 2005, as compared to the 1.1% appreciation of the Real against the U.S. dollar in the nine-month period ended September 30, 2004; and • an increase of U.S.$ 73 million in other operating expenses related to idle capacity from thermoelectric power plants. Page: 16 These effects were partially offset by the following items: • a U.S.$ 566 million increase in net operating revenues primarily due to: (1) the 9.3% increase in the volume of natural gas sold, reflecting the continued expansion of natural gas consumption in Brazil in the industrial, automotive and thermal generation segments; (2) the increase in revenues from energy commercialization; and (3) the effects of the 16.0% increase in the value of the Real against the U.S. dollar in the nine-month period ended September 30, 2005, as compared to the nine-month period ended September 30, 2004. This excerpt taken from the PBR 6-K filed Aug 25, 2005. Gas and Energy Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies. Our gas and energy segment registered a net loss of U.S.$ 126 million for the first half of 2005, as compared to a net loss of U.S.$ 135 million in the first half of 2004. This change was primarily a result of: • a U.S.$ 499 million increase in net operating revenues primarily due to: (1) the 9.0% increase in the volume of natural gas sold, reflecting the continued expansion of natural gas consumption in Brazil in the industrial, automotive and thermal generation segments; (2) the increase in revenues from energy commercialization, and (3) the effects of the 13.4% increase in the value of the Real against the U.S. dollar in the first half of 2005, as compared to the first half of 2004. These effects were partially offset by the following items: • an increase of U.S.$ 143 million in expenses related to minority interest, due to better results reported by Transportadora Brasileira Gasoduto Bolívia Brasil – TBG, primarily due to the effect of the 11.5% appreciation of the Real against the U.S. dollar in the first half of 2005, as compared to the 7.6% depreciation of the Real against the U.S. dollar in the first half of 2004; • an increase of U.S.$ 137 million in other expenses, net, primarily as a result of the increase in expenses for certain thermoelectric power plants; • an increase of U.S.$ 108 million in the cost of sales, mainly attributable to a 9.0% increase in the volume of natural gas sold, reflecting the continued expansion of natural gas consumption in Brazil in the industrial, automotive and thermal generation segments; and • an increase of U.S.$ 63 million in selling, general and administrative expenses, mainly as a result of an increase in expenses relating to personnel as well as technical and consulting services. Page: 15 This excerpt taken from the PBR 6-K filed Jun 13, 2005. Gas and Energy
Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies.
Our gas and energy segment registered net income of U.S.$ 75 million for the first quarter of 2005, as compared to a net loss of U.S.$ 86 million in the first quarter of 2004. This increase was primarily a result of:
These effects were partially offset by the following items:
This excerpt taken from the PBR 6-K filed Jun 8, 2005. Gas and Energy
Our gas and energy segment consists principally of the purchase, sale, transportation and distribution of natural gas produced in or imported into Brazil. Additionally, this segment includes our participation in domestic electricity production, including investments in domestic natural gas transportation companies, state owned natural gas distributors and thermoelectric companies.
Consolidated net income for our gas and energy segment was a net gain U.S.$ 154 million in 2004, as compared to a net loss of U.S.$ 196 million in 2003. The net income was primarily a result of:
These effects were partially offset by the following items:
(1) a 18.6% increase in the volume of natural gas sold, reflecting the continued expansion of natural gas consumption in Brazil, mainly in thermal generation, as well as the industrial and automotive segments; (2) the increase in the portion of Bolivian gas – which is more expensive than domestic gas – that comprised our natural gas sales, from 39.0% in 2003 to 46.3% in 2004; (3) an increase in costs of certain thermoelectric plants, whose financial statements we have been consolidating line by line since December 2003, as a result of the adoption of FIN 46; and (4) the effects of the 4.8% increase in the value of the Real against the U.S. dollar in 2004, as compared to 2003; and
16
Table of Contents | EXCERPTS ON THIS PAGE:RELATED TOPICS for PBR: |
| |||||||
