This excerpt taken from the PBR 6-K filed Aug 7, 2009.
2Q09 Trade Balance
Rio de Janeiro, 06 August, 2009 PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces the result of its 2nd quarter 2009 (2Q09) Trade Balance, based on exports and imports of oil and oil products, registered according to national and international accounting principles followed by Petrobras, without considering natural gas, liquefied natural gas (LNG) and nitrogenous. The table bellow presents detailed information.
The net export for the 2Q09 was US$ 1.45 billion, an increase of approximately 600% in relation to 2nd quarter 2008 (2Q08), as a result of 9% increase of oil and LNG production, and the increase of the net oil and oil products export, measured by volumes, which was 267 thousand barrels per day in the 2Q09, 330% higher than the 2Q08. The net export increase was influenced by the reduction of 28% in the oil products import, highlighting the reduction of 50% of diesel import as a result of the investments in the refineries to increase its capacity to produce diesel and the reduction of the demand in the agribusiness segment and the supply of diesel to the thermo plants in the 2Q08.
*FOB Values (without freight and insurance)
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 30, 2009
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.