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Operational and Financial Results – Petrobras

Petrobras · Aug 11, 2014 · 18 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Operational and Financial Results – Petrobras – slide 1
    OPERATIONAL AND FINANCIAL RESULTS 2nd Quarter 2014 __ Conference Call / Webcast August, 11th 2014
  2. Operational and Financial Results – Petrobras – slide 2
    Petrobras: Oil and NGL production in Brazil Production operated by Petrobras in 2Q14 was 2,072 th. bpd Th. bpd 2013: 1.977 th. bpd 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 Average 1.948 Average 1.975 Average 1.969 Average 2.013 Average 2.006…
  3. Operational and Financial Results – Petrobras – slide 3
    Petrobras: Oil and NGL production in Brazil Petrobras Production in 2Q14 was 1,972 th. bpd, an increase of 50 th. bpd over 1Q14 Th. bpd 2013: 1,931 th. bpd 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 Average 1,910 Average 1,931 Average 1,924 Average…
  4. Operational and Financial Results – Petrobras – slide 4
    Oil Production in the Pre-Salt Daily Record of 546 th. bpd on July/13 with 25 wells High productivity of Pre-salt wells contributed to lower lifting costs (LF) for these projects. Lula field has a lifting cost of US 9/boe (2013),…
  5. Operational and Financial Results – Petrobras – slide 5
    Oil and NGL production in Brazil 2014 projection Production target of 7.5 ( 1 p.p.) maintained 2013 Average: 1,931 th. bpd 2014 Average: 2.075 th. bpd +/- 1% Th bpd 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2,600 Average 1,910 Average…
  6. Operational and Financial Results – Petrobras – slide 6
    Oil and Natural Gas Production Costs in Brazil Higher productivity leads to stable lifting cost Cost reduction in Reais when compared to 1Q14, due to the increase in total production (+2.6%), resulting from ramp-up of new systems (P-58,…
  7. Operational and Financial Results – Petrobras – slide 7
    Oil Products Output and Sales in Brazil 2Q14 production up 3% when compared to 1Q14, due to higher diesel and gasoline output Oil Products Output Oil Products Sales - Brazil +2% +3% Th. bpd +3% +3% 2,138 2,124 2,180 2.443 2.372…
  8. Operational and Financial Results – Petrobras – slide 8
    Oil Products Output Record in Brazil: 12 Refineries Throughput of 2,172 th. bpd of oil in June The significant increase in the level of output resulted from better performance achieved by the start-up of new quality and conversion…
  9. Operational and Financial Results – Petrobras – slide 9
    Trade Balance: Oil and Oil Products 2Q14 vs. 1Q14: Higher oil imports lowers gasoline imports Exports Imports Balance July/14: Oil exports 321 th. bpd +33% Oil imports 193 th. bpd +20% -14% 941 708 783 -16% 534 359 359 366 308…
  10. Operational and Financial Results – Petrobras – slide 10
    Refining Cost in Brazil Reduction in costs due to the increases in productivity and throughput In Reais, unit cost stable. Increase of 7% in US due to FX appreciation. Cost stability a result of optimizing operational costs (PROCOP) and…
  11. Operational and Financial Results – Petrobras – slide 11
    Natural Gas Supply and Demand Increase in thermoelectric demand in 2Q14 when compared to 1Q14 and 2Q13 DEMAND SUPPLY +6% +6% Million m/dia +6% +6% July/14: 96.3 96.3 Demand: 94.3 MM m/d 91.2 91.1 91.2 91.1 Thermoelectric: 41,3…
  12. Operational and Financial Results – Petrobras – slide 12
    2Q14 Results Operating Income up 17% from 1Q14 Growth in 2Q14 Operating Income mainly due to the absence of the provision in 1Q14 for Voluntary Separation Incentive Plan (PIDV) R Billion 2Q14 x 1Q14 Operating Income Lower unit…
  13. Operational and Financial Results – Petrobras – slide 13
    2Q14 Results Operating Income up 17% on 1Q14. Net Income down 8%. Growth in 2Q14 Operating Income due mainly to the absence of the provision for Voluntary Separation Incentive Plan (PIDV) in 1Q14. Reduction in Net Income due to change…
  14. Operational and Financial Results – Petrobras – slide 14
    Structuring Programs and Net Income Impact Positive effect of R 3.1 Billion in 2Q14 PROCOP (R 1.6 Billion), PRODESIN (R 0.3 Billion) and PROEF (R 1.2 Billion) positively impacted Net Income by 63% (R 3.1 Billion). R -3.1 Billion…
  15. Operational and Financial Results – Petrobras – slide 15
    General and Administrative Expenses Strong slowdown of the growth rate due to Procop and PIDV Evolution from 2011 to 2014 2011 2012 2013 1H14 +1.6% +7.8% +15.8% 5,691 R Million 4,589 4,696 5,146 5,060 5,140 4,057 1H11…
  16. Operational and Financial Results – Petrobras – slide 16
    Financial Ratios Indebtedness R Billion 03/31/14 06/30/14 Total debt stable Short-term Debt 21.8 23.5 Long-term Debt 286.3 284.2 Decrease of cash and cash equivalents due to Total Debt 308.1 307.7 yearly dividend payment and…
  17. Operational and Financial Results – Petrobras – slide 17
    2014 Projections Oil Production (th. bpd) Oil Exports (th. bpd) Production target maintained Sustainable growth of oil exports 7,5% +51% +/- 1p.p. 250 1,931 207 166 th. bpd th. bpd 2013 2014 2013 1S14 2S14 Forecast…
  18. Operational and Financial Results – Petrobras – slide 18
    OPERATIONAL AND FINANCIAL RESULTS 2nd Quarter 2014 __ Information: Investor Relations +55 21 3224-1510 investorspetrobras.com

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