Petroleo Brasileiro (PBR)

Petroleo Brasileiro S.A.—Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks. It operates in four segments: Exploration and Production, Supply, Distribution, and Gas and Energy. The Exploration and Production engages in the exploration, development, and production of oil, liquefied natural gas, and natural gas in Brazil; sale and transfer of crude oil in domestic and foreign markets; and sale of oil products produced at natural gas processing plants. The Supply segment involves in the refining, logistic, transportation, exportation, and purchase of crude oil, as well as the purchase and commercialization of oil, oil products, and fuel alcohol. It also invests in petrochemical companies and fertilizer plants. The Distribution segment distributes oil products and ethanol. The Gas and Energy segment involves in the purchase, sale, transportation, and distribution of natural gas produced in or imported into Brazil. It also participates in electricity production activities, including investments in domestic natural gas transportation companies, state owned natural gas distributors, and thermoelectric companies. The company also engages in the exploration and production, supply, and distribution of gas, and power operations in Argentina Bolivia, Colombia, Ecuador, Mexico, Peru, Venezuela, the United States, Angola, Nigeria, Tanzania, Mozambique, Senegal, India, Portugal, Iran, Pakistan, Libya, and Turkey. Petroleo Brasileiro was founded in 1953 and is based in Rio de Janeiro, Brazil.

For the nine months ended 30 September 2006, Petroleo Brasileiro S.A.-Petrobras e Subsidiaries's revenues increased 33% to R$53.3M. Net income increased 47% to R$10.0M. Revenues reflect an increase in sales from exploration, supply, gas, energy, international, corporate and the distribution sector. Net income reflects an a decrease in miscellaneous operating and non-operating expenses; along with a rise in financial income.