many suffer a life under horrible conditions.
Rio de Janeiro, February 28th, 2012 – Petróleo Brasileiro S.A. - Petrobras discloses its consolidated results for for the 2011 fiscal year in U.S. dollars, according to international financial reporting standards (IFRS).
The Company’s net income in 2011 was US$ 20.1 billion (US$ 1.54 per ADS), compared to US$ 20 billion (US$ 2.03 per ADR) in 2010, mainly due to the increase of the sales revenue. The revenues increased 21% to U.S.$145,915 million primarily attributable to the increase in oil and gas production in Brazil (2%), the increase in international oil price, higher domestic gasoline and diesel prices and higher sales volume.
The adjusted EBITDA was US$ 37.3 billion in 2011 compared to US$ 33.7 billion in 2010.
Investments in 2011 totaled US$ 43.16 billion, of which most was dedicated to the Exploration and Production segment
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