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Q4 2010 EARNINGS CALL – Petrobras

Petrobras · Mar 1, 2011 · 23 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. Q4 2010 EARNINGS CALL – Petrobras – slide 1
    Results Announcement 4nd Quarter 2010 (IFRS) Conference Call / Webcast Almir Guilherme Barbassa CFO and Investor Relations Officer March 01st, 2011 1
  2. Q4 2010 EARNINGS CALL – Petrobras – slide 2
    2010 HIGHLIGHTS o Oil production records in Brazil: FPSO Cidade de Angra dos Reis o Daily: 2,256 th. barrels (Dec, 27th) o Monthly: 2,122 th. bpd (December) o Annual: 2,004 th. bpd in 2010 o International production increased…
  3. Q4 2010 EARNINGS CALL – Petrobras – slide 3
    KEY OPERATING STATISTICS EBITDA by segment* (R million) 2010 2009 % Net Income (R/million) 35,189 30,051 17% 3,917 2,263 2,263 2,073 2,964 2,900 7,356 EBITDA (R/million) 60,323 59,502 1% 23,338 ARP (R/bbl) 158.43 157.77…
  4. Q4 2010 EARNINGS CALL – Petrobras – slide 4
    OIL AND GAS PRODUCTION 2010 vs 2009 Total Production (daily average) Brazilian Production (daily average) 2,526 +2% 2,583 2,288 +2% 2,338 3% 5% 238 245 International 317 334 Natural Gas (th. bpd) 2% 2% 2,288 2,338 1,971…
  5. Q4 2010 EARNINGS CALL – Petrobras – slide 5
    PRODUCTION GROWTH Brazilian production Main new projects Main new projects 2010 2011 2,100 2,004 Guar EWT 30 th. bpd Mexilho Cidade de Angra dos Reis Aruan EWT (th. bpd) 100 th. bpd 5 million m3/d gas +/ 2.5% P56 P57…
  6. Q4 2010 EARNINGS CALL – Petrobras – slide 6
    2009/2010 DISCOVERIES: ALBIAN CARBONATES AND CAMPOS BASIN PRESALT Recoverable volumes: Postsalt Albian Carbonates: 1,105 MM bbl Presalt Carbonates: at least 780 MM bbl Albian Carbonate Pre-salt Carbonate Pre-salt and Albian…
  7. Q4 2010 EARNINGS CALL – Petrobras – slide 7
    PRESALT SANTOS BASIN 2010 Accomplishments Transfer of rights to produce 5 billion boe in specific areas of the presalt that are not ** Wells Petrobras: Drilling or completion or test. under concession. Start up of FPSO Cidade de…
  8. Q4 2010 EARNINGS CALL – Petrobras – slide 8
    PROVEN RESERVES (ANP/SPE CRITERION) Proven Reserves 2010 vs. 2009 By Region By type (Brazil) 1,990 15,986 UltraDeep Water 14,865 (0,869) (1,500m) Million boe Brazil Deep Water (3001,500m) Shallow Water (0300m)…
  9. Q4 2010 EARNINGS CALL – Petrobras – slide 9
    DRILLING RIGS o Approval for procurement/charter of the first round of 7 rigs to be constructed in Brazil: o Deliveries beginning in 2015 o Local content specification of 65% Petrobras fleet (units operating by year) o 14…
  10. Q4 2010 EARNINGS CALL – Petrobras – slide 10
    LOCAL CONTENT Platforms Procurement Under Construction: P55: Estaleiro Atlntico Sul PE (hull) /QUIP RS (modules) Recently built platform: P57: BrasFels RJ Capacity: 180 thous. boe/day Value: US 1,2 billion Delivered two months…
  11. Q4 2010 EARNINGS CALL – Petrobras – slide 11
    NATURAL GAS 2009/2010 NATURAL GAS 2009:2010 (Million m3/d) Electricity Generation Supply (average MW) Volume Delivered +38% +38% +196% 70 70 62 62 3.000 2,859 60 60 6 12 2.500 50 50 45 1,069 45 4 13 1 27 2.000 40 40 9 22…
  12. Q4 2010 EARNINGS CALL – Petrobras – slide 12
    INCREASED CAPACITY UTILIZATION 2010 More domestic oil in REFAP Activity apr may jun jul aug sep oct nov dec kbpd +184% REPLAN - Expansion 172 REVAP HDT Diesel REVAP Coke 86 REVAP HDT Naphtha Ck 61 REFAP Acquisition 30%…
  13. Q4 2010 EARNINGS CALL – Petrobras – slide 13
    AVERAGE REALIZATION PRICES US/bbl R/bbl 220 2010 Average 120 ARP Petrobras: 158.26 ARP USA: 150.67 170 100 86 80 75 76 78 77 68 80 120 59 70 73 74 72 60 64 44 70 2009 Average 40 49 ARP Petrobras: 157.50 ARP USA: 129.97…
  14. Q4 2010 EARNINGS CALL – Petrobras – slide 14
    OIL PRODUCTS AND NATURAL GAS SALES IN DOMESTIC MARKET Oil Products Natural Gas 2,033 2,052 1,869 565 578 Others 509 Thous. bpd 230 219 LPG 212 379 414 Gasoline 360 363 366 247 782 859 841 Diesel 4Q09 3Q10 4Q10…
  15. Q4 2010 EARNINGS CALL – Petrobras – slide 15
    LIFTING COST IN BRAZIL R/barrel US/barrel 147.02 86.48 140.16 137.23 134.51 78.30 76.86 129.73 76.24 74.56 43.91 24.74 25.58 43.04 43.82 42.72 43.47 23.73 24.50 24.67 15.23 14.71 14.07 15.29 26.53 26.87 26.37 24.26…
  16. Q4 2010 EARNINGS CALL – Petrobras – slide 16
    TRADE BALANCE 2009 2010 Oil Products Oil Products Oil Oil 705 697 (Thous. Barrels/day) 615 227 549 200 152 299 478 497 397 156 316 82 Exports Imports Net Exports Exports Imports Net Exports Financial Volume (US…
  17. Q4 2010 EARNINGS CALL – Petrobras – slide 17
    OPERATING INCOME 2010 vs 2009 (R million) 30,440 (27,345) (1,890) (145) 45,997 47,057 2009 Sales Revenue COGS SG&A Other 2010 Operating Income expenses Expenses Operating Income o Higher sales revenue due to an increase of…
  18. Q4 2010 EARNINGS CALL – Petrobras – slide 18
    NET INCOME 2010 vs 2009 (R Million) 273 (196) (1,305) 2,581 35,189 2,725 30,051 1,060 2009 Operating Net Financial Interest in Profit Income Tax Minority 2010 Net Income Income Result Investments Sharing and Social Interest Net…
  19. Q4 2010 EARNINGS CALL – Petrobras – slide 19
    NET INCOME 4Q10 vs 3Q10 R million 4Q10 3Q10 % Revenue from sales 54,492 54,739 (247) 0,5% Cost of products sold (35,612) (35,094) (518) 1,5% Gross Profit 18,880 19,645 (765) 3,9% Expenses (7,606) (8,526) 920 10,8% Operating…
  20. Q4 2010 EARNINGS CALL – Petrobras – slide 20
    INVESTMENTS 2010 vs 2009 2010 8% 2009 R 76,4 billion R 70,8 billion (%) (%) Others Others 5% 6% Inter 4,8% Inter 10% G&P 9%* E&P G&P 15%* E&P 43%* 45%* RTM 37%* RTM 24%* o E&P: Growth of investment for development of…
  21. Q4 2010 EARNINGS CALL – Petrobras – slide 21
    CAPEX 2011 Annual Investment Budget 2011 Annual Investment Budget 2010 R 93,67 billion R 88,54 billion (%) BioFuels (%) Distr Distr 0.9% Corp 1.3% 1.0% Other 3.0% 1.3% Inter Inter G&P 5.9% G&P 7.0% 5.0% 9.2% E&P E&P 45.7%…
  22. Q4 2010 EARNINGS CALL – Petrobras – slide 22
    LEVERAGE 6 Net Debt/Net Cap. Net Debt/Ebitda 40% 5.5 31% 32% 34% 35% 5 26% 27% 27% 30% 4.5 25% 4 3.5 16% 20% 3 17% 15% 2.5 10% 2 1.35 1.52 5% 1.5 0.95 0.95 1.00 1.21 0.94 0% 1 1.00 5% 0.5 0 10% 0.5 15% 1 20% 1Q09 2Q09…
  23. Q4 2010 EARNINGS CALL – Petrobras – slide 23
    Information: Investor Relations +55 21 3224-1510 petroinvestpetrobras.com.br 24 24

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