OREANDA-NEWS. October 30, 2012. Net income totaled BRL 5 billion 567 million in the third quarter of 2012, while EBITDA stood at BRL 14 billion 375 million, 36% up on the previous quarter.

• This result reflected the full impact of the price hikes for gasoline (7.83% in June) and diesel (3.94% in June and 6% in July), reduced expenses from the write-off of dry or subcommercial wells and the stable period exchange rate.

• Refinery capacity utilization in Brazil reached 98%, with the maximization of diesel output. Processed crude moved up by 2%, reaching a new record of 2,101,000 bpd on August 12.

Net income in the nine months 2012 totals 13 billion 435 million

• The 52% reduction in net income over the same period last year was due to the depreciation of the real, higher operating expenses (especially from the write-off of dry and economically unviable wells in the second quarter of 2012) and the increased share of imported oil products in sales volume.

• Year-to-date EBITDA totaled BRL 41 billion 495 million, 14% down on the first nine months of 2011.

• Total oil and natural gas production in Brazil and abroad remained flat over 2011. However, domestic oil output fell by 2%, chiefly due to operational stoppages.

• The FPSO Cidade de Anchieta began operating in September, initiating production in the Baleia Azul field, in the pre-salt area of the Campos Basin. Current output is running at 42,000 barrels per day (bpd).

• The Company was included in the Dow Jones Sustainability Index, the world’s most important sustainability index, for the seventh consecutive year.