Send us Feedback

Petrobras (PBR)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

PBR » Topics » Pag: 106

This excerpt taken from the PBR 6-K filed Nov 21, 2007.

Pag: 106

(A free translation of the original report in Portuguese)

 

FEDERAL PUBLIC SERVICE   
BRAZILIAN SECURITIES COMMISSION (CVM)  
ITR - QUARTERLY INFORMATION - As of - 09/30/2007 Corporate Law 
COMMERCIAL, INDUSTRIAL & OTHER TYPES OF COMPANY   


  •
Lower spending on Government Participations as a result of the effects of the appreciation of the Brazilian currency on reference prices for national petroleum that are indexed to the price of Brent on the international market and also, of one-off adjustments in 2006 relating to the new interpretation by the National Petroleum Agency (ANP) on the deductibility of project financing costs for the Marlim field in the calculation of the special participations (R$ 426 million), and spending on gas produced and injected back into tanks at the Solimões, Campos and Espirito Santo Basins (R$408 million);

Offset by the following factors:

  •
Higher spending on imports, due to the processing difficulties relating to the new flows of national petroleum and to meet the growing demand for diesel;
     
  • Higher spending on depreciation and depletion, particularly on the incorporation of new assets due to upgrading of the refineries and the start of production in the Roncador, Voador and Espadarte fields;
     
  • Higher spending on platform chartering, especially units P-34, P-47, P-50, FPSO Capixaba, FPSO and FPSO RJ

• Increase in the following expenses:

  •
General and administrative (R$ 598 million), payroll (R$ 226 million); outsourced services (R$ 156 million), primarily IT, financial and administrative consulting and data processing (R$ 66 million), including infrastructure, support, maintenance and licenses;
   
  •
Exploration costs (R$ 119 million), particularly geological and geophysical expenses (R$ 222 million), monetary restatement of the provision for abandonment (R$ 49 million), offset by the reduction in write-offs of dry wells (R$ 152 million);
   
  •
Research and development costs (R$ 109 million), for projects in universities and research institutes accredited by the ANP (R$ 59 million) and expenses with payroll (R$ 43 million);
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki