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Q1 2015 CONFERENCE CALL – Petrobras

Petrobras · May 18, 2015 · 20 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. Q1 2015 CONFERENCE CALL – Petrobras – slide 1
    RESULTS ANNOUNCEMENT 1st Quarter 2015 __ Conference Call / Webcast May, 18th 2015 1
  2. Q1 2015 CONFERENCE CALL – Petrobras – slide 2
    1Q15 Net Result: R 5.3 billion R Billion 1Q15 1Q14 % Sales Revenues 74.4 81.5 -9 Lower oil products sales Lower oil prices Cost of Sales -51.9 -62.4 -17 Gross Profit 22.4 19.2 17 Lower unit import cost Operational Expenses -9.1 -11.6…
  3. Q1 2015 CONFERENCE CALL – Petrobras – slide 3
    Exchange Rate and Oil Prices Average Exchange Rate Average Oil Prices Brent (R/US) (US/bbl) +21% -50% 2.87 108 2.54 2.37 76 54 1Q14 4Q14 1Q15 1Q14 4Q14 1Q15 End of Period 2.26 2.66 3.21 Brent 256 194 155 FX R/bbl…
  4. Q1 2015 CONFERENCE CALL – Petrobras – slide 4
    1Q15 Highlights R Billion 1Q14 1Q15 % Gross Profit 19.2 22.4 17 Financial Gross Margin 23% 30% 7 p.p. Adjusted EBITDA 14.3 21.5 50 EBITDA Margin 18% 29% 11 p.p. Total oil and natural gas production of 2.8 million boed, 11%…
  5. Q1 2015 CONFERENCE CALL – Petrobras – slide 5
    Technological Acknowledgement of Petrobras at OTC Since the 80s, Petrobras has been innovating in ultra-deep water exploration 1st oil field OTC 1st FPSO OTC 1st commercial OTC found in Award Production Award discovery in Award Campos…
  6. Q1 2015 CONFERENCE CALL – Petrobras – slide 6
    Pre-Salt Highlights Average Monthly Production (thousand bpd)* 800 Monthly Record in April/2015: 715 Thousand bpd 800 thousand bpd 700 Daily Production Record 04/11/2015 600 2.4 x 500 400 February 2013: 300 Thousand bpd…
  7. Q1 2015 CONFERENCE CALL – Petrobras – slide 7
    Pre-Salt Highlights 54% of time reduction Lifting Cost* in 2014 in well drilling and completion (US/boe) Lula and Sapinho field 100% Drilling Completion Pre-Salt 9.07 80% 60% Petrobras Average 14.57 40% 20% Others…
  8. Q1 2015 CONFERENCE CALL – Petrobras – slide 8
    Exploration and Production Oil and Gas Production Brazil and Abroad (thousand boed) +10.7% 2,799 2,803 2,796 90 87 2,531 106 100 Natural Gas Abroad 91 Oil and NGL Abroad 118 453 467 Natural Gas Brazil 400 Oil and NGL…
  9. Q1 2015 CONFERENCE CALL – Petrobras – slide 9
    Exploration and Production 1Q15: Oil and Gas Production Petrobras x Majors (thousand boed) 4,248 3,293 Natural Gas 1,971 3,112 2,803 2,682 1,219 554 1,570 881 Oil/NGL 2,277 2,074 2,249 1,801 1,542 10
  10. Q1 2015 CONFERENCE CALL – Petrobras – slide 10
    Exploration and Production Connection of New Wells in Brazil Injectors 87 Producers 26 69 51 47 42 17 12 61 22 30 34 8 14 2012 2013 2014 1Q15 Apr-Dec/15 PLSVs 12 11 19 16 Productivity 94 90 97 91 (Km/PLSV) 11
  11. Q1 2015 CONFERENCE CALL – Petrobras – slide 11
    Oil Products Sales in Brazil Sales Volume in Brazil (thousand bpd) -5.9% 2,487 2,371 2,230 833 Others 823 750 Decrease due to: lower economic activity; 644 Gasoline 601 573 increase of percentage of ethanol in gasoline…
  12. Q1 2015 CONFERENCE CALL – Petrobras – slide 12
    Oil Products Output Oil Products Output in Brazil (thousand bpd) -8% 2.124 2.171 Others 208 219 1.964 Fuel Oil 281 177 290 Jet Fuel 104 264 105 82 Naphtha 92 128 100 Lower production due to scheduled 125 74 stoppage in…
  13. Q1 2015 CONFERENCE CALL – Petrobras – slide 13
    Operating Income Evolution 1Q14 x 1Q15 R Billion Contribution per Segment +76% -11.4 16.8 1.5 0.0 0.1 0.0 13.3 -0.8 -0.4 7.6 1Q14 Downstream E&P Gas and International Distribution Biofuel Corporate Elimination 1Q15…
  14. Q1 2015 CONFERENCE CALL – Petrobras – slide 14
    Consolidated Net Income Evolution 1Q14 x 1Q15 R Billion 0.1 2.4 -5.4 5.4 5.3 -1.2 0.8 10.4 -7.2 1Q14 Revenues COGS PIDV Other Financial Income Others 1Q15 Net Income Expenses Results Taxes Net Income 1T15 74.4 -51.9…
  15. Q1 2015 CONFERENCE CALL – Petrobras – slide 15
    Costs Evolution +15% 36.12 38.13 33.14 Lifting Higher lifting cost due to increase in workovers in 1Q15. Cost* 14.15 14.21 13.27 1Q14 4Q14 1Q15 +26% 8.16 6.48 6.90 Refining Higher refining cost due to reduction in…
  16. Q1 2015 CONFERENCE CALL – Petrobras – slide 16
    General and Administrative Expenses General and Administrative Expenses R Billion +6% 3.4 2.7 2.6 Increase in line with inflation in the period. 1Q14 4Q14 1Q15 17
  17. Q1 2015 CONFERENCE CALL – Petrobras – slide 17
    Financial Ratios - Indebtedness 8,0 60% 52% 7,0 48% 50% 43% 6,0 39% 40% 40% LEVERAGE ND/ EBITDA 5,0 5.02 30% 4.77 4,0 4.00 3.94 3.86 20% 3,0 2,0 10% 1,0 0% 1Q14 2Q14 3Q14 4Q14 1Q15 Net debt / EBITDA Net…
  18. Q1 2015 CONFERENCE CALL – Petrobras – slide 18
    Indebtedness Indebtedness Indebtedness (R Billion) 03/31/15 12/31/14 Short-term debt 39.8 31.6 Long-term debt 360.9 319.5 Total Indebtedness 400.7 351.0 (-) Cash and cash equivalents 68.2 68.9 = Net debt 332.5 282.1…
  19. Q1 2015 CONFERENCE CALL – Petrobras – slide 19
    2015 Cash Flow 25 -21 US Billion -29 26 13 20 2 3 2015 Initial Opearting Interest, Investments Divestments Rollovers Funding Needs 2015 Final Cash Position Cash Flow Amortizations Cash Position and Others Oil Prices…
  20. Q1 2015 CONFERENCE CALL – Petrobras – slide 20
    RESULTS ANNOUNCEMENT 1ST Quarter 2015 __ Information: Investor Relations +55 21 3224-1510 investorspetrobras.com 21

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