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PBR » Topics » A R$ 726 million reduction in operating expenses, notably:

This excerpt taken from the PBR 6-K filed May 27, 2008.

A R$ 726 million reduction in operating expenses, notably:

  • Tax expenses (R$ 150 million), due to the elimination of the CPMF financial transaction tax as of January/08.

  • Other operating expenses (R$ 741 million), especially from the amendments to the Petros Plan in the 1Q-2007 (R$ 1,040 million), partially offset by higher expenses with contractual fines related to natural gas and electricity supply (R$ 253 million);

These effects were offset by the increase in selling expenses (R$ 177 million), due to higher freight expenses caused by the upturn in sales volume and the increase in average distribution and offshore freight costs (R$ 40 million and R$ 39 million, respectively) plus the increase in provisions for doubtful debts.

  • A positive impact of R$ 535 million on the net financial result, due to the impact of the lower appreciation of the Real in 2008 on subsidiaries’ investments abroad and, in the International segment, on the purchase of E&P equipment for use in Brazil, and commercial activities.

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