APBR (ord) APBRA (pref) Petrobras Brasil

[magoo]

INVERSIONES 2010-2014... lean interesante.

http://www.petrobras.com.br/ri/Show.asp ... Ys+8WYHQ==

[21ale21]

NOVEMBER 10, 2010, 2:20 P.M. ET.

Brazil's Petrobras Profit Seen Jumping 28% In 3Q On Currency Gain

RIO DE JANEIRO (Dow Jones)--Brazilian state-run oil and gas giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, is likely to see third-quarter net profit jump about 28% from a year ago as the dollar devaluation slashed costs on the company's foreign debt.

The company also will have benefited from higher natural-gas output and surging domestic demand for gasoline and diesel in the July-September period, boosting revenue, analysts said Tuesday.

Petrobras is expected to report third-quarter net profit of 9.4 billion Brazilian reais ($5.5 billion), up from the BRL7.3 billion recorded in the same period of 2009, according to the average estimate of six analysts polled by Dow Jones Newswires.

Although that would be a strong result, it would still miss the company's record quarterly profit of BRL10.851 billion posted in 2008's third quarter, when international oil prices were higher.

Net revenues are seen reaching BRL53.11 billion, according to the analysts' average estimate, compared with the BRL47.87 billion registered a year earlier.

The company will announces its result Thursday evening after markets close.

Apart from some oil rig stoppages which left production below target, Petrobras' performance was seen generally stable. The profit boost was attributed mainly to currency gain and possibly to cash inflow in the last days of September following the company's record-breaking $70 billion share sale.

"During the third quarter the dollar depreciated 6% against the real, giving a substantial accounting gain on the company's dollar-denominated debt, which is worth more than the company's dollar-denominated assets," Nelson Rodrigues de Mattos, analyst with Banco do Brasil, told Dow Jones Newswires. "This gain could be of at least BRL1 billion.

"In addition, the low dollar makes it easier for Petrobras to import," de Mattos said.

Petrobras currently has $38 billion in debt and will need to raise a further $32 billion on debt markets by 2014 to complete its 2010-2014 business plan, local Estado news agency said Tuesday, citing Chief Executive Officer Jose Sergio Gabrielli. The business plan involves investments of $224 billion to allow Petrobras double its output by 2014, from its current 2010 average oil production target of 2.1 million barrels a day at its Brazilian operations.

The company expects to generate cash of $155 billion during the 2010-2014 period, after dividends payments, if international oil prices stay around $80 a barrel, Estado said.

International Brent oil prices averaged $76.60 a barrel during the third quarter, up from $68 a year ago. While this improved revenues from Petrobras' exports and its overseas operations, it also meant higher prices for imports of fuel products.

Domestic prices for gasoline and diesel, which are controlled by the government, remained stable as no change has been authorized since prices were reduced in June 2009. However, domestic sales-volume growth exceeded GDP growth, which could top 7% this year. That allowed Petrobras to boost profit margins, according to Max Bueno of broker Spinelli.

Demand for fuels, including diesel and gasoline, should surge 12% in 2010 from a year earlier, Petrobras director Paulo Roberto Costa told reporters at the Rio Oil and Gas conference in September.

Earnings before interest, taxes, depreciation and amortization, or Ebitda, leapt 18.1% to BRL16.52 billion, according to Bueno's calculation. Profitability could grow further as the company improves and expands its refinery installations, he said.

"The modernization of Petrobras' refinery installations underway will end up benefiting the company's balance sheet," Bueno said. "Petrobras will import less gasoline and diesel and export more higher-value added products."

Petrobras expects to be free of fuel imports in 2014 when it brings two new oil refineries into production, according to Costa.

"Expectations for the fourth quarter are also that output will grow as new production systems come into operation," Bueno said.

Production stoppages at Petrobras' P-33 and P-35 production rigs in Campos basin -- the former was temporarily shut down by Brazil's National Petroleum Agency ANP on safety precautions -- brought Petrobras a "very weak" quarterly oil production, according to Emerson Leite, analyst with Credit Suisse.

Quarterly oil output of 1.99 million barrels a day, down 1% from a year earlier despite new capacity having been brought on stream, was partly offset by rising gas production, although the company's overall production targets are still at risk, according to Leite.

Total quarterly production of oil and gas was 2.57 million barrels of oil equivalent, up 1.4% from the same 2009 period.

-By Diana Kinch, Dow Jones Newswires; 55-21-2586-6086; diana.kinch@dowjones.com

[fabiancito]

Fisa, todos los dias yo hago lo mismo
Plata ya puse
Pelotas creo que si ya que entre antes de que defina (igual creo que eso fue un error)
Paciencia
es raro, de las que tengo para largo ninguna me pone tan impaciente como esta (TGNO, BOLT, GAMI y un poquito de SEMI)
sigamos esperando con fe
saludos

Tb tengo TGNO4 y SEMI... si compramos el Alplax por mayor nos harán precio???
jajajaja[/quote]
No te quejes ya tuvistes con tgno4 y semi,yo tengo paty me parece que se me da mañana

[Fisa]

Cuento hasta 10... Me repito que compré para tenerlas unt iempo...

Pero no entiendo...
XOM
PBR

Fisa, todos los dias yo hago lo mismo
Plata ya puse
Pelotas creo que si ya que entre antes de que defina (igual creo que eso fue un error)
Paciencia
es raro, de las que tengo para largo ninguna me pone tan impaciente como esta (TGNO, BOLT, GAMI y un poquito de SEMI)
sigamos esperando con fe
saludos

Tb tengo TGNO4 y SEMI... si compramos el Alplax por mayor nos harán precio???
jajajaja

[papota]

Cuento hasta 10... Me repito que compré para tenerlas unt iempo...

Pero no entiendo...
XOM
PBR

Fisa, todos los dias yo hago lo mismo
Plata ya puse
Pelotas creo que si ya que entre antes de que defina (igual creo que eso fue un error)
Paciencia
es raro, de las que tengo para largo ninguna me pone tan impaciente como esta (TGNO, BOLT, GAMI y un poquito de SEMI)
sigamos esperando con fe
saludos

[martin]

La única manera que arranque para abajo es si venden por abajo de 73 pesos. En los demás casos no hay forma de que baje....

[fabiancito]

USO tambien PBR

[Fisa]

Cuento hasta 10... Me repito que compré para tenerlas unt iempo...

Pero no entiendo...
XOM
PBR

[fabiancito]

Si para el balance no cambia yo si las largo,las regalo....menos emocion que una tele apagada

[Esteban22]

la verdad que no se como vendra el balance, pero me tirne re podrido, si no son las elecciones, es el precio del crudo y si no ... si es para cansar al minortario lo lograron, aunque no las pienso largar.