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This excerpt taken from the PBR 6-K filed Nov 19, 2009. Page 137
The improved result was driven by higher oil prices and the upturn in sales volume due to increased output in Akpo, in Nigeria.
The increase in the negative result was due to the upturn in the negative financial result (R$ 3,328 million), as dealt with on page 6, and the minority interest result, reflecting the impact of exchange variation on the debt of Special Purpose Companies These effects were partially offset by the increase in income tax and social contribution credits due to the tax benefit generated by provisions for interest on equity. This excerpt taken from the PBR 6-K filed Aug 18, 2009. Page 137
The increase in the quarter-over-quarter result was due to the following factors: • Higher sales volume in Brazil and abroad; • Higher average export prices; • The sale, in the 2Q-2009, of inventories formed in the previous quarter at a lower acquisition cost; • Increased equity income, reflecting the petrochemical sector result. These effects were partially offset by the reduction in average domestic oil product prices due to the downturn in diesel and gasoline prices in June 2009. | EXCERPTS ON THIS PAGE:
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