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PBR » Topics » 4. Government Participation

This excerpt taken from the PBR 6-K filed May 16, 2005.
4. Government Participation 

R$ Million
Jan-Mar 
4Q-2004 
2005 
2004 (1) 
D % 
  Country       
1,435   Royalties  1,305   1,109   18  
1,776   Special Participation  1,582   1,050   51  
20   Surface Rental Fees  19   17   12  
3,231   Subtotal  2,906   2,176   34  
105   Foreign  134   125   7  
3,336   Total  3,040   2,301   32  

Government participation in Brazil increased 34% in 1Q-2005 in relation to the same period in 2004, reflecting the increase in the average reference price of oil (35%).

In relation to 4Q-2004, government participation in Brazil in 1Q-2005 dropped 10%, due to the variation in the reference price for domestic oil, mainly as a function of the prices at the Albacora, Marlim, Marlim Sul and Roncador fields.

This excerpt taken from the PBR 6-K filed Mar 11, 2005.

4. Government Participation

R$ Million
  Fourth Quarter   Fiscal Year
3Q-2004 2004 2003 D %    2004  2003  D % 
        Country
1,355  1,435  1,038  38  Royalties 5,020  4,372  15 
1,529  1,776  1,071  66  Special Participation 5,717  4,845  18 
24  20  22  (9) Surface Rental Fees 87  93  (6)
2,908  3,231  2,131  52  Subtotal 10,824  9,310  16 
112  105  118  (11) Foreign 503  464  8 
3,020  3,336  2,249  48  Total 11,327  9,774  16 

Government participation in the country increased 16% during fiscal year 2004 compared to fiscal year 2003, reflecting the increase in the reference price for oil (24%), despite reduced oil production.

In relation to 3Q04, government participation in 4Q04 increased 11%, due to the variation in the domestic reference price for oil, a function of legally bringing prices in line with the international price of oil.

This excerpt taken from the PBR 6-K filed Feb 28, 2005.

4. Government Participation

R$ Million
  Fourth Quarter   Fiscal Year
3Q-2004 2004 2003 D %    2004  2003  D % 
        Country
1,355  1,435  1,038  38  Royalties 5,020  4,372  15 
1,529  1,776  1,071  66  Special Participation 5,717  4,845  18 
24  20  22  (9) Surface Rental Fees 87  93  (6)
2,908  3,231  2,131  52  Subtotal 10,824  9,310  16 
112  105  118  (11) Foreign 503  464  8 
3,020  3,336  2,249  48  Total 11,327  9,774  16 

Government participation in the country increased 16% during fiscal year 2004 compared to fiscal year 2003, reflecting the increase in the reference price for oil (24%), despite reduced oil production.

In relation to 3Q04, government participation in 4Q04 increased 11%, due to the variation in the domestic reference price for oil, a function of legally bringing prices in line with the international price of oil.

EXCERPTS ON THIS PAGE:

6-K
May 16, 2005
6-K
Mar 11, 2005
6-K
Feb 28, 2005

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