Petrobras' net income in 2010 sets record high

Petrobras’ CFO and Investor Relations officer, Almir Guilherme Barbassa, announced the Company’s financial and operating results for the 4th quarter and fiscal year 2010 yesterday at their company headquarters in Rio de Janeiro. The net income increased 17% over 2009, and the EBITDA reached R$60 billion 323 million. Total oil & natural gas production was up 2% over 2009, averaging 2,583,000 barrels per day.

The proved reserves closed the year at 15.986 billion barrels of oil equivalent (boe) by the SPE/ANP criterion. The Reserve Replacement Index (RRI) was 229%, and the reserve/production ratio stood at 18.4 years. Investments totaled R$ 76 billion 411 million, and were 8% above 2009, with a focus on increasing the oil and natural gas production capacity, on improving the refining park, and the natural gas infrastructure.

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