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PBR » Topics » •A reduction in the following operating expenses:

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

•A reduction in the following operating expenses:

• Exploration costs (R$ 91 million), primarily due to the reduction in geological, geophysical and seismic costs, especially abroad (R$ 70 million).

• Other operating expenses (R$ 189 million), chiefly due to reduced costs from contractual charges and fines related to natural gas supply (R$ 211 million).

These effects were offset by the increase in selling expenses (R$ 131 million) due to the upturn in maritime freight charges.

• A negative impact on the net financial result (R$ 1,402 million), due to the impact of the higher appreciation of the Real in the 2Q-2008 on investments abroad, commercial activities and, in the International segment, through subsidiaries, the use of foreign funds to acquire E&P equipment for use in Brazil.

• Reduced holdings in relevant investments (R$ 155 million), chiefly due to greater FX losses on foreign subsidiaries’ shareholders equity.

• A positive impact on the non-operating result (R$ 425 million), primarily due to gains from the change in relevant interests in Quattor (R$ 409 million).

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PETROBRAS SYSTEM  Operating Performance
     
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