Petroleo Brasileiro S.A. Petrobras ADS (PBR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

They had no crews, so we changed this procedure. So now they have a crew. They go straight to their location or their sites, and that also anticipates production and operation of more oil, again, to benefit our investors, government or private sector investors. That's another improved procedure that ultimately means more oil in the tanks, in our tanks. We also had more natural gas supply offered to the market. We increased our gas production by 15% to the market. And this was a result of our Route 3 reaching the state of Rio de Janeiro, in the Boa Ventura complex. And this also means that in addition to Route 3, there has been a lot of effort put into processing this gas in a gas processing unit in the Boa Ventura complex, in the Itaburayi hub. Ladies and gentlemen, we are really happy to have All this good news to you. These deliveries are under our control. We're totally in control of them. So we are delivering them. We're improving on them. And you can rest assured that in our daily work, that means continuous improvement. And this is done. When the company realizes that there's a challenging scenario, geopolitical challenges that are ahead of us when we consider the price of our final product, crude oil and gas. As I said, these factors are not controlled. The price of crude oil is not under our control. However, mitigating effects of these price variations, this is indeed under our control. So we are responding by increasing production with also increased production and also a very strong perspective in cost reduction. In the second quarter, you know, the second quarter was impacted by a falling oil price that was around 68 U.S. dollars per barrel. That was 10 percent down as compared to last year, last semester. And we responded by increasing our production by ...