Petrobras’ net income over a nine-month period of 2013 was R$17.289 billion

• Net income from January to September was 29% higher than in 2012 due to higher operating result and lower impact of the exchange rate on the financial result. The 3% increase in operating result reflected gains with the sale of assets and lower write-offs of dry and economically unviable wells that offset losses with the price difference. Adjusted EBITDA reached R$ 47.413 billion, 14% higher than in the same period of 2012.

• In the 3rd quarter, net income was R$ 3.4 billion, 45% lower than in the 2nd quarter, reflecting lower operating income, partially offset by the better financial result. Operating income was 51% lower, impacted by the rise in oil products imports and by the rise in the price difference for oil products due to the exchange rate depreciation combined with the increase in the international oil price.

• Total oil and natural gas output averaged 2.542 million barrels of oil equivalent per day over nine months, 2% lower than the same period of 2012, due to the natural decline of fields, higher number of scheduled maintenance stoopages in 2013 and the sale of assets abroad. In the quarter, domestic output remained stable.

• The completion in the 4th quarter of the year of 6 new units (P-63, P-55, P-58, P-61, TAD and P-62) will contribute to the sustained production growth in 2014.

• Ongoing success in increasing the operational efficiency through PROEF: gain of 65,000 barrels per day in the quarter.

• The output of oil products averaged 2.131 million barrels per day over nine months, 7% higher than 2012, with a monthly processing record in July and record production of diesel and gasoline in August. Demand for diesel in the 3rd quarter was also a record.

• Evolution of PRODESIN with the announcement of operations in Brazil and abroad totaling US$ 4.8 billion in the year.

• Better than expected PROCOP results, with the realization of R$ 4.8 billion, 122% of the annual target.

• Petrobras participated of the consortium that acquired rights and obligations to the Libra block at the 1st Pre-Salt Bidding Round, held by the ANP. The consortium consists of Petrobras (40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC (10%).

• For the eighth consecutive year, Petrobras was selected to join the Dow Jones Sustainability Index World, the world's most important sustainability index.

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Petrobras News Agency





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