This excerpt taken from the PBR 6-K filed Nov 21, 2007.
(A free translation of the original report in Portuguese)
08.01 COMMENTS ON THE CONSOLIDATED PERFORMANCE IN THE QUARTER
This excerpt taken from the PBR 6-K filed Aug 21, 2007.
SUPPLY: The Supply segment recorded net income of R$ 4.367 million in the first half of 2007, 20% above the R$ 3.632 million registered during the same period in 2006, reflecting a reduction in average oil acquisition and oil product import costs, associated with the 7% appreciation of the Real against the dollar, as well as the lower value of heavy crude oil. These gains were partially offset by:
In comparison with the previous quarter, second-quarter net income increased by 4% due to (1) the growth in oil product sales volume; (2) the increase in the average realized price for oil product sales; and (3) the sale, in the second quarter of 2007, of inventories acquired at a lower cost.