Petrobras: Financial Results
Thursday, 17 May 2012 | 00:00
Petrobras discloses its consolidated results for the first quarter 2012, in reais and in U.S. dollars, according to international financial reporting standards (IFRS).
- Our total domestic and international oil and natural gas production increased 2% in the first quarter of 2012 compared to the first quarter of 2011, due mainly to production in the Jubarte, Marlim Sul, Caratinga, Albacora, Mexilhão and Uruguá fields, as well as to the pre-salt contribution of the Lula field.
- Start-up of production of the Cascade deep water field situated in the Gulf of Mexico.
- Discoveries in the pre-salt layer of the Santos Basin, specially in the Carioca Sela and Carcará and the one of Campos Basin called Pão de Açúcar. In addition, a new accumulation of oil and gas was discovered in the Solimões Basin situated in the Brazilian state of Amazonas.
- A 3% increase in the production of oil products in the first quarter of 2012 compared to the first quarter of 2011.
- Capital expenditures and investments in the first quarter of 2012 amounted to R$18,020 million, 14% higher compared to the first quarter of 2011, 52% of which was invested in Exploration & Production.
- Raising of funds of U.S.$7,2 billion of bonds in the international capital markets with maturities of three, five, ten and thirty years.
- Payment of R$2,609 million of interest on shareholders’ equity in the first quarter of 2012, which corresponds to R$0.20 per share. On March 19, 2012, our shareholders approved in the annual general shareholders’ meeting the payment of dividends in the amount of R$1,565 million. The first portion of interest on shareholders’ equity was provisioned in the amount of R$2,609 million on March 31, 2012, corresponding to R$0.20 per share, estimated to be paid to our shareholders by June 30, 2012.