Petrobras - Perspectives of the Brazilian Market
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Transcript of Petrobras - Perspectives of the Brazilian Market
1
2FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements about
future events within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, that are not based on historical facts and
are not assurances of future results. Such forward-looking
statements merely reflect the Company’s current views and
estimates of future economic circumstances, industry conditions,
company performance and financial results. Such terms as
"anticipate", "believe", "expect", "forecast", "intend", "plan", "project",
"seek", "should", along with similar or analogous expressions, are
used to identify such forward-looking statements. Readers are
cautioned that these statements are only projections and may differ
materially from actual future results or events. Readers are referred
to the documents filed by the Company with the SEC, specifically the
Company’s most recent Annual Report on Form 20-F, which identify
important risk factors that could cause actual results to differ from
those contained in the forward-looking statements, including, among
other things, risks relating to general economic and business
conditions, including crude oil and other commodity prices, refining
margins and prevailing exchange rates, uncertainties inherent in
making estimates of our oil and gas reserves including recently
discovered oil and gas reserves, international and Brazilian political,
economic and social developments, receipt of governmental
approvals and licenses and our ability to obtain financing.
We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new
information or future events or for any other reason. Figures
for 2011 on are estimates or targets.
All forward-looking statements are expressly qualified in their
entirety by this cautionary statement, and you should not
place reliance on any forward-looking statement contained in
this presentation.
NON-SEC COMPLIANT OIL AND GAS RESERVES:
CAUTIONARY STATEMENT FOR US INVESTORS
We present certain data in this presentation, such as oil and
gas resources, that we are not permitted to present in
documents filed with the United States Securities and
Exchange Commission (SEC) under new Subpart 1200 to
Regulation S-K because such terms do not qualify as proved,
probable or possible reserves under Rule 4-10(a) of
Regulation S-X.
3
J a p a n e s e I m p o r t s- J a n- Ju n 2 0 1 10, 1 % 8, 1 %9 , 5 %
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Fo o ds tu f f Ma te r i a l s F u e l sC h e m ic a lP r o d u c ts Ma n u fa c tu r e dg o o ds Ma c h i n e sT ra ns p o r t Eq u i p m e n t O t h e rs
Ja pa n im p o r ts a lm o s t 1 0 0 % o f i tsna tu ra l r e s o u r c e s d em a n d s, a s i td o e s n o t p r o d u c e o i l, L N G, c oa la n d i r o n o r e, f o r i n s ta n c e.Ja pa n i s r e la t iv e ly w e l lp o s i t i o n e d i n t h e w o r l d ’ s na tu ra lr e s o u r c e s s u p p ly c ha i n, t h r o u g hj o i n t v e n t u r e s o r d ev e l o pm e n ta n d p r o d u c t i o n p r o j e c t f i na n c e s
Ja pa n im p o r ts a lm o s t 1 0 0 % o f i tsna tu ra l r e s o u r c e s d em a n d s, a s i td o e s n o t p r o d u c e o i l, L N G, c oa la n d i r o n o r e, f o r i n s ta n c e.Ja pa n i s r e la t iv e ly w e l lp o s i t i o n e d i n t h e w o r l d ’ s na tu ra lr e s o u r c e s s u p p ly c ha i n, t h r o u g hj o i n t v e n t u r e s o r d ev e l o pm e n ta n d p r o d u c t i o n p r o j e c t f i na n c e sJ a p a n e s e Fu e l I m p o r t s- J a n- Ju n 2 0 1 11 5 , 7 0 %2 , 9 0 %
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4
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So u r c e : P F C En e r g y• Ov e r t h e la s t 5y ea r s, m o r e t ha n 5 0 % o f t h e n e w d i s c ov e r i e s ( i n t h e w o r l d ) t o o kp la c e i n d e ep wa t e r s• T h e d ev e l op m e n t o f t h e s e n e w r e s e rv e s w i l l d e ma n d a d d i t i o na l ca p a c i ty i n t h e s up p ly c ha i n• T h e e xp a n s i o n o f B ra z i l ’ s o i l a n dg a s s up p ly c ha i n i s a l ig n e d t o t h i s p e r sp e c t i v eWe e x pe c t t o d o u b le o u r p r o ve n re s e r ve s u n t i l 2 0 2 0, ke e p i n g f i n d i n g c os ts a t U S $ 2 / b oeWe e x pe c t t o d o u b le o u r p r o ve n re s e r ve s u n t i l 2 0 2 0, ke e p i n g f i n d i n g c os ts a t U S $ 2 / b oe
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