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Oil and Natural Gas Production up in July

Itaguai-recordeRead the announcement (8/18/2015):

Petrobras' average oil and natural gas production rose 1.8% in July compared to the previous month and reached 2.796 million barrels of oil equivalent per day (boed). The Company produced 2.746 million boed in June. Production is up 3.6% on July 2014 (2.699 million boed). On July 8, Petrobras set a new daily oil production record in the pre-salt layer: 865,000 barrels per day (bpd). This production does not include natural gas extraction. Monthly production was 798,000 bpd, 6.9% higher than the existing record for June.

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Additional Information about the Initial Public Offering of Petrobras Distribuidora

BRRead our statement (8/18/2015):

Pursuant to CVM Instruction 480/09, Petrobras has published, in the Brazilian Securities and Exchange Commission (CVM) system, an acknowledgement relating to the meeting of the Board of Directors held on August 6, 2015, which resolved on the following issues related to the IPO of Petrobras Distribuidora (BR):

(i) the recommendation that BR submit a request to the CVM for registration as a category “A" publicly-held company and submit an application to the BM&FBOVESPA for the trading of securities on the Novo Mercado segment;

 

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Our net income in the 1H-2015 was R$ 5.9 billion

resultsRead our statement (8/6/2015):

Net income was R$ 5,861 million in the 1H-2015, 43% lower than in the 1H-2014 due to higher net finance expenses and to the recognition of tax expenses with respect to the tax on financial operations (Imposto sobre Operações Financeiras - IOF), partially offset by a higher gross profit (26%), resulting from higher margins in sales of oil products in the domestic market and increased crude oil export volumes driven by a 9% increase in domestic crude oil production, despite the decrease in domestic demand for oil products.

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Production gets underway in Iracema Norte

ItaguaiThe Cidade de Itaguaí platform came into operation on Friday (July 31), kicking off production at the Iracema Norte project. The Iracema Norte area is located in the Lula field, in the Santos Basin pre-salt area, off the coast of Rio de Janeiro.

The Cidade de Itaguaí platform is an FPSO, which produces, stores and offloads oil, and is anchored at a depth of 2220 meters, about 240 km from the coast. It can process up to 150,000 barrels of oil, 8 million cubic meters of gas per day, and store 1.6 million barrels of oil.

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Fortune Ranking: we are 28th among the 500 largest companies in the world

Ranking Fortune ENFortune magazine has released its ranking of the 500 largest companies in the world in 2014, and we appear in 28th place on it. According to the publication, we are the largest oil company in Latin America, with revenues coming in at $143.657 billion last year. Brazil has six companies ranked by Fortune: Itaú Unibanco (112th), Banco do Brasil (126th), Bradesco (185th), JBS (202nd), Vale (312th) and Ultrapar (414th).

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New Decision on Parque das Baleias Arbitration

Parque das BaleiasRead our statement (07/17/2015):

Further to the Parque das Baleias Arbitration released on Luly 6th, the Arbitration Tribunal issued a new ruling yesterday (16/7) to suspend deposits of disputed special participation tax amounts, estimated at R$ 350 million per quarter.

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New production records in pre-salt were achieved in June

MangaratibaRead our statement (07/10/2015):

Petrobras announces that, in June 2015, its oil and natural gas production was 2 million 746 thousand barrels of oil equivalent per day (boed), in Brazil and abroad, 0.7% lower than the volume produced on May (2 million 766 thousand boed) and up 4.3 % on the volume produced in June 2014 (2 million 633 thousand boed).

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Order on the motion to dismiss in the U.S. action

Read our statement (07/10/2015):

Petrobras informs that the judge responsible for the U.S. action today issued an order on the motion to dismiss presented by Petrobras, partially granting the company's motion. The motion to dismiss was intended to have the Court consider whether, from a legal point of view, the Lead Plaintiff’s allegations are sufficient for the action to proceed to the evidentiary stage of the case (discovery).

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FPSO Cidade de Itaguaí arrives in Lula field

Cidade de ItaguaíThe floating production, storage and offloading unit (FPSO) Cidade de Itaguaí is now anchored in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin, off the coast of Rio de Janeiro. The platform-ship is able to produce 150,000 barrels of oil and compress 8 million cubic meters of natural gas per day. Oil production in the field is scheduled to begin in the third quarter of this year.

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Executive Board authorizes studies for public offering of Petrobras Distribuidora S.A. shares

EdiseRead our statement (July, 1):

Petrobras’ Executive Board, at a meeting held on June 30, 2015, authorized studies to be prepared analyzing strategic alternatives for its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR).

Among the possibilities to be explored, is attracting a strategic partner and a public offering, making this subsidiary a listed company in a special segment of the BM&FBovespa stock market called Novo Mercado - New Market and in compliance with corporate governance practices.

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