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This excerpt taken from the PBR 6-K filed Apr 27, 2009. First natural gas auction for short-term agreements Rio de Janeiro, April 24 2009 – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that it held today the first electronic auction to trade natural gas in short-term agreements. A total of 3.59 million cubic meters/day were negotiated for delivery in May, corresponding to 37% of the total volume offered for this first month; and 3.24 million cubic meters/day for June, or 34% of the total offered for this second period. The average negotiated price was $4.20 per million BTUs for delivery in May, and $4.25 per million BTUs for delivery in June. This auction offered volumes of natural gas foreseen in the existing agreements with distribution companies and currently not being negotiated by these companies with their final consumers. The volume of natural gas traded in this auction will not affect the supply to the thermoelectric market. The Company also announces that, it will continue following-up on the evolution of the market in order to hold new auctions in a timely manner. www.petrobras.com.br/ri/english
This document may contain forecasts that merely reflect the expectations of the Company’s management. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 24, 2009
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. | ||||||||
