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In 2013, Petrobras' profit increased by 11%

in 2013, Petrobras' profit increased by 11%

February 27, 2014

[China paint information] according to Brazil's "page news" on February 26, by adjusting oil prices, cutting costs, and selling stocks, Petrobras' pressure on revenue generation was partially relieved, achieving a profit of 23.6 billion reais (the current exchange rate between the US dollar and reais 1:2.35), Compared with 201, its control accuracy and control range are very high and wide, with an increase of 11% in two years

in 2013, as the fuel price was still lower than the import price, although the price was increased, it was not enough to make up for the loss of 17.8 billion reais in the sales department. Pakistan consumes an average of 2.4 million barrels of refined oil per day, of which 400000 barrels are imported. After two gasoline price adjustments and three diesel price adjustments last year, the price of gasoline and diesel is still 16% and 22% respectively

according to the adjustment plan announced by PetroChina on February 25, the investment in the next five years will be reduced by 6.8%, and the original investment plan of US $236.7 billion will be adjusted to the whole annual investment of US $220.6 billion according to the duration test. Oil supply departments, including refineries, will cut investment by $38.7 billion, or about 40%. Investment in the development and production sector increased by 4.3% to $153.9 billion


due to the heavy investment burden of the lower salt layer, it is in contradiction with the expansion of profits. Therefore, the debt scale also expanded from 147.8 billion to 221.6 billion reais, a range of 50%. The coefficient between debt level and income generating capacity increased from 2.77 times to 3.52 times. At the end of last year, due to the high debt level of the company, Moody's, a risk assessment agency, lowered the credit rating of PetroChina from A3 to baa1

in addition, PetroChina also announced that the marketing volume increased by 8% in 2013, from 281 billion to 304.9 billion reais, and the spot market price of the port rose slightly today. More products are used in the industry; The output of the lower salt layer has reached a peak of 407000 barrels per day, and it is planned to expand to 1million barrels per day in 2017. But the good news failed to lift the share price. Yesterday, the share price of preferred shares in Sao Paulo fell by 2.2%

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