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Petrobras

Investor Relations

Petrobras profit grows 11% in first half of the year

The net profit for the first half of the year topped at R$16.021 billion.

The increase was 11% over the first half of 2009 mainly due to the higher Brent price in the period, which reached $77.27 per barrel (up from $51.60/bbl a year ago), and to the recovery in the sales volumes in the Brazilian market, which rose 11%.

The cash generation measured by the EBITDA reached R$31.003 billion.
Oil & gas production in Brazil was up 3% over the first half of 2009; In April, Petrobras set a monthly oil production record in Brazil, at 2,033,000 barrels per day.

In the first half of the year, investments topped out at R$38.101 billion, 17% more than in 1H09.

Results for the Quarter

The quarter's net results were 7% higher than in the 1st quarter 2010, particularly due to lower operating expenses.
The EBITDA rose 6% over 1Q10, to R$15.927 billion.

More information:
Results Center (webcast and informations sent to CVM)

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