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PBR » Topics » PETROBRAS ANNOUNCES FIRST HALF 2006 RESULTS

This excerpt taken from the PBR 6-K filed Aug 14, 2006.

PETROBRAS ANNOUNCES FIRST HALF 2006 RESULTS

(Rio de Janeiro – August 11, 2006) – PETRÓLEO BRASILEIRO S.A. – PETROBRAS today announced its consolidated results stated in millions of reais, in accordance with Generally Accepted Accounting Principles in Brazil. 

PETROBRAS earned consolidated net income of R$ 6,959 million in the second quarter of 2006, 41% higher than the net income generated in the second quarter of 2005.

In the first half of 2006, consolidated net income was R$ 13,634 million, 37% higher than the net income achieved in the first half of 2005. The growth in net income was supported by a 7% increase in the domestic production of oil and NGL´s. Operating cash flow (EBITDA) was R$ 27,727 million, generating sufficient resources to meet the Company’s investment plan, while reducing debt.

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