Petrobras (PBR)

Sales Volume – Thous. Barrels/day

By-product sales volume rose 4% in the domestic market in 1Q-2005 compared to 1Q-2004, particularly the increase in sales of diesel oil and gasoline. This was partially offset by reduced sales of naphtha and fuel oil. Retraction in fuel oil consumption in 1Q-2005 in comparison to 1Q-2004 is due to strong competition from substitute products such as coal, coke, biomass and wood.

By-product sales volumes fell 6% in the domestic market in 1Q-2005 compared to 1Q-2004, notably the reduction in sales of naphtha and fuel oil, essentially reflecting the lower demand in the first quarter of 2005 for these by-products.

Sales Volume – Thous. barrels/day

The sales volume of by-products fell 1% in the domestic market in 4Q04, mainly due to reduced sales of diesel oil, fuel oil and LPG, which reflected lower consumption of these derivatives, as industrial production is less intense in this period.

The volumes of by-products sold rose 6% in the domestic market in fiscal year 2004 when compared to fiscal year 2003, particularly the increased sales of gasoline, diesel oil and LPG, which essentially reflected the heating up of the economy in 2004. These increases were partially offset by lower sales of fuel oil, due to the expansion of substitute products such as imported coke, coal (domestic and imported) wood, biomass, and in greater proportion, natural gas.

Sales Volume – Thous. barrels/day

The sales volume of by-products fell 3% in the domestic market in 4Q04, mainly due to reduced sales of diesel oil, fuel oil and LPG, which reflected lower consumption of these derivatives, as industrial production is less intense in this period.

The volumes of by-products sold rose 5% in the domestic market in fiscal year 2004 when compared to fiscal year 2003, particularly the increased sales of gasoline, diesel oil and LPG, which essentially reflected the heating up of the economy in 2004. These increases were partially offset by lower sales of fuel oil, due to the expansion of substitute products such as imported coke, coal (domestic and imported) wood, biomass, and in greater proportion, natural gas.