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PBR » Topics » Pag: 111

This excerpt taken from the PBR 6-K filed Nov 12, 2008.

Pag: 111

The international refining cost moved up due to higher costs in the USA caused by a programmed stoppage in the Pasadena refinery and technical problems in the FCC catalytic cracking unit associated with the slide in processed crude volume in 2008.

The quarter-over-quarter increase in the international refining cost was also due to higher costs in the USA, caused by repairs in the Pasadena refinery due to damages caused by hurricane Ike, technical problems in the FCC catalytic cracking unit and a reduction in processed crude volume in the 3Q-2008.

This excerpt taken from the PBR 6-K filed Aug 13, 2008.

Pag: 111


The quarter-over-quarter improvement was due to higher average domestic oil prices and the 2% increase in daily oil and NGL production, partially offset by the higher government take.

The spread between the average domestic oil sale/transfer price and the average Brent price increased from US$ 10.77/bbl in the 1Q-2008 to US$ 15.92/bbl in the 2Q-2008, due to the fact that heavy crude moved up less than light, together with the upturn in international transport costs.

The year-on-year reduction in the Supply result in the 1H-2008 was due to higher oil acquisition/transfer costs and the increase in oil product import costs, reflecting the behavior of international prices.

These effects were partially offset by the upturn in oil product prices in Brazil and abroad.

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

Pag: 111

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

Pag: 111

    2nd Quarter        First Half 
1Q-2007    2007    2006    D %        2007    2006    D % 
 
Average Oil Products Realization Prices 
150,97    155,44    154,20    1    Domestic Market (R$/bbl)   153,27    153,69    (0)
 
 
Average sales price - US$ per bbl 
                Brazil             
47,79    57,04    58,20    (2)              Crude Oil (US$/bbl)(5)   52,42    55,92    (6)
32,71    36,16    15,61    132               Natural Gas (US$/bbl)(6)   34,36    15,57    121 
                International             
42,41    45,60    47,30    (4)              Crude Oil (US$/bbl)   44,03    42,43    4 
14,48    13,96    12,33    13               Natural Gas (US$/bbl)   14,20    11,91    19 
(5) Average of the exports and the internal transfer prices from E&P to Supply. 
 
(6) Internal transfer prices from E&P to Gas & Energy. The increase in the 1Q07 due to new methodology that takes in consideration the international natural gas prices as one of the variables. 
 
 
Costs - US$/barrel 
                Lifting cost:             
                • Brazil             
7,20    7,33    6,12    20    • • without government participation   7,27    6,22    17 
16,24    17,95    17,54    2    • • with government participation(8)   17,10    17,44    (2)
3,89    4,19    3,10    35    • International    4,05    3,03    34 
                Refining cost             
2,54    2,69    2,07    30    • Brazil (7)   2,62    1,99    32 
2,42    3,01    1,36    121    • International    2,70    1,46    85 
531    552    531    4    Corporate Overhead (US$ million) Parent Company (7)   1.082    850    27 
(7) The company, in order to promote a better indexes adherence to its operating and management models, has reviewed their concepts, recalculating the values of previous periods, as already mentioned on 4Q06 Report. 
 
(8) Lifting cost with government take had its historical series adjusted, retroactive to 2002, due to ANP's (National Petroleum Agency) new interpretation of the deductibility of the expenses with Project Finance in the Marlim field over the accounting of special participations. 
 
 
Costs - R$/barrel 
                Lifting cost             
                • Brazil             
15,20    14,45    13,16    10    • • without government participation   14,83    13,50    10 
34,12    35,03    38,34    (9)   • • with government participation(8)   34,58    37,68    (8)
                Refining cost             
5,36    5,31    4,55    17    • Brazil (7)   5,34    4,37    22 
 

Not reviewed by the independent auditors.

This excerpt taken from the PBR 6-K filed Jun 8, 2007.

Pag: 111

Result by Business Area R$ million (1)
        First Quarter 
       
4Q-2006        2007    2006    D%
         
 
4.640    EXPLORATION & PRODUCTION    5.096    6.774    (25)
1.462    SUPPLY    2.144    2.000    7 
(307)   GAS AND ENERGY    (314)   (78)   303 
130    DISTRIBUTION    189    163    16 
(247)   INTERNATIONAL (2)   (259)   236    (210)
(798)   CORPORATE    (2.616)   (1.862)   40 
320    ELIMINATIONS AND ADJUSTMENT    (109)   (568)   (80)
         
5.200    CONSOLIDATED NET INCOME    4.131    6.675    (38)
         

(1) Comments on the results by business area begin on page 16 and their respective financial statements on page 26.

(2) In the international business segment, given that all operations are executed abroad, comparisons between the periods is influenced by foreign exchange variations in dollars or in the currency of those countries in which the companies in question are headquartered. As a result, there may be substantial variations in Reais, primarily arising from and reflecting changes in the exchange rate.

EXCERPTS ON THIS PAGE:

6-K
Nov 12, 2008
6-K
Aug 13, 2008
6-K
Nov 21, 2007
6-K
Aug 21, 2007
6-K
Jun 8, 2007

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