Brazil: Petrobras’ CFO Takes Part in Oil, Gas & Petrochemicals Panel

Petrobras’ CFO and Investor Relations officer, Almir Guilherme Barbassa, took part in the “Oil, Gas & Petrochemicals” panel in an event organized for investors in Rio de Janeiro this Monday, May 30.

During Rio Investors Day, Mr. Barbassa talked about issues of public interest, such as the approval of the business plan, capital discipline, corporate governance, the natural gas market, development of the pre-salt cluster and refining.

Asked about how anticipated gas output over the next few years would be disposed of, Barbassa replied that there would be no excess gas produced until 2020. “We work with a lot of flexibility, and there is no shortage of demand for gas at power plants and in petrochemicals and refining facilities, for instance,” he said.

He also pointed out that the pre-salt cluster is a reality already in commercial production, and that Petrobras has been able to optimize investments in this area. “We have been able to almost halve drilling time. If we figure in the costs of leasing a rig, the net result is overall savings and greater returns for investors,” he concluded.

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Source: Petrobras, June 1, 2011;