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Q2 2010 EARNINGS CALL – Petrobras

Petrobras · Aug 17, 2010 · 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. Q2 2010 EARNINGS CALL – Petrobras – slide 1
    Results Announcement 2nd Quarter 2010 (IFRS) August 17th, 2010 Conference Call / Webcast Almir Guilherme Barbassa CFO and Investor Relations Officer 1
  2. Q2 2010 EARNINGS CALL – Petrobras – slide 2
    HIGHLIGHTS FOR THE QUARTER o Net Income increased 7%, reaching R 8.3 billion; o New light oil discoveries in Campos Basin pre-salt. Recoverable volume estimates of around 500 million boe; o Start-up of FPSO Capxaba, producing from…
  3. Q2 2010 EARNINGS CALL – Petrobras – slide 3
    OIL AND NATURAL GAS PRODUCTION 1H10 VS 1H09: New projects contribute to production increases (Thous. bpd) Total Production National Production 2,503 2,568 231 246 International 2,272 2,322 National 314 324 Natural Gas Oil and LNG…
  4. Q2 2010 EARNINGS CALL – Petrobras – slide 4
    NEW PRODUCTION UNITS: Continued increases in capacity Main units responsible for production increase Projects Capacity 2Q10 FPSO Cidade de Vitria 100 thousd bpd 60.9 (Golfinho) FPSO Esprito Santo 100 thousd bpd 28.2 Parque das…
  5. Q2 2010 EARNINGS CALL – Petrobras – slide 5
    PRODUO 2010 PRE-SALT NEWS: Accelerating development activity o Campos and Espirito Santo Basin o New discoveries in Campos basin in the pre-salt layer in Marlim, Albacora Leste and Caratinga fields; o Production start-up in Baleia…
  6. Q2 2010 EARNINGS CALL – Petrobras – slide 6
    AVERAGE REALIZATION PRICE: Stable price in both domestic and international markets US/bbl Avg. Avg. 121 R/bbl Avg. 120 115 2Q09 1Q10 2Q10 105 220 100 101 80 75 76 78 170 160.79 55 68 157.65 158.72 60 59 44 120 128.41 73 74…
  7. Q2 2010 EARNINGS CALL – Petrobras – slide 7
    DOMESTIC LIFTING COST: Stable costs R/barrel US/barrel 76.2 78.3 74.6 68.3 43.04 43.82 43.91 41.62 58.8 38.86 24.74 23.73 24.50 22.86 19.50 24.78 26.53 26.87 26.37 15.23 14.71 21.28 13.84 14.33 10.78 17.58 16.84 16.51…
  8. Q2 2010 EARNINGS CALL – Petrobras – slide 8
    DOMESTIC OIL PRODUCTS AND NATURAL GAS MARKET: Significant sales growth in the domestic market Thous. bpd Oil Products Natural Gas +7% 1,851 1,898 +20% 1,769 257 292 Others 473 505 501 244 LPG 212 203 221 Gasoline 331 410 374…
  9. Q2 2010 EARNINGS CALL – Petrobras – slide 9
    TRADE BALANCE 1H09 v. 1H10: Increasing trade balance despite small reduction in net exports Thous bpd 1H09 1H10 Oil Oil Products 708 762 524 620 226 204 131 281 184 482 558 142 393 339 Export Import Net Export Import Net…
  10. Q2 2010 EARNINGS CALL – Petrobras – slide 10
    OPERATING INCOME 2Q10 vs 1Q10: Higher volumes and reduced operating expenses (R Million) 3,219 (3,142) 609 12,303 11,617 1Q10 Operat. Net COGS Operating 2Q10 Operating Revenue Expenses Operating Income Income o Higher…
  11. Q2 2010 EARNINGS CALL – Petrobras – slide 11
    NET INCOME 2Q10 vs 1Q10: Stable exchange rate eliminated fluctuation in financial results (R Million) 686 71 (52) (165) 29 8,295 7,726 1Q10 Operating Financial Equity Minority Interest 2Q10 Taxes Net Income Income Result…
  12. Q2 2010 EARNINGS CALL – Petrobras – slide 12
    EXPLORATION & PRODUCTION 2Q10 vs 1Q10: Higher operating income in absence of extraordinary items (R Million) 357 (553) 840 11,572 11,060 (235) 103 1Q10 Price Effect Cost Effect Volume Effect Volume Effect Operating 2Q10…
  13. Q2 2010 EARNINGS CALL – Petrobras – slide 13
    DOWNSTREAM 2Q10 vs 1Q10: Increasing costs of throughput reduced margin (R Milhes) 2,816 (2,609) 161 (1,654) 1,870 (340) 244 1Q10 Price Effect Cost Effect Volume Effect Volume Effect Operating 2Q10 Operating on Revenues on…
  14. Q2 2010 EARNINGS CALL – Petrobras – slide 14
    GAS & ENERGY, INTERNATIONAL and DISTRIBUTION (2Q10 vs 1Q10) Continued improvement across other segments 2Q10 VS. 1Q10 Net Income: 8% Gas&Energy R 349 million R 323 million o Higher revenue due to power generation and higher…
  15. Q2 2010 EARNINGS CALL – Petrobras – slide 15
    CAPEX 1H10 vs 1H09: Increasing investments to meet domestic market demand Capex 1H10 Capex 1H09 R 38.1 billion R 32.5 billion 0.2 E&P 0.3 3.4 4.2 15.7 Downstream 5,6 2.5 0,05 Gas and Energy 4.2 1,1 14.8 2.4 International 1,3…
  16. Q2 2010 EARNINGS CALL – Petrobras – slide 16
    LEVERAGE: Multiples maintained within Companys targets 6 Net Debt/Net Cap. Net Debt/Ebitda 40% 5.5 32% 35% 30% 34% 5 26% 28% 28% 30% 4.5 Targets: 25% 4 - Leverage between 3.5 20% 25% and 35% 3 15% - Net Debt / EBITDA 2.5 10%…
  17. Q2 2010 EARNINGS CALL – Petrobras – slide 17
    QUARTERLY CASH FLOW: Financing and cash flow support investments and maintain liquidity R million 2Q09 1Q10 2Q10 Cash at the beginning of the period 19,776 29,034 26,951 Cash generated by operating activities 9,114 9,676 13,259…
  18. Q2 2010 EARNINGS CALL – Petrobras – slide 18
    Information: Investor Relations +55 21 3224-1510 petroinvestpetrobras.com.br 19 19

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