Management remarks
Call period: 2026 Q2 · 2026-08-07
Guidance: Fernando Melgarejo: So we totaled $11.7 billion in this half of the year versus a full year plan of $20.2 billion.Demand and orders: Fernando Melgarejo: The higher volume of oil and oil product production and sales combined with higher Brent prices has strengthened our cash generation with operating cash flow of $12.3 billion for the quarter, growth of nearly 50% when compared with the previous quarter.Analyst Q&A
Analyst Bruno Montanari asked: And in terms of CapEx and in terms of bringing Buzios' deliveries forward and the sequence of P-80 for the quarters and if there will be a ramp-up for the P-80 this year or not? Management Magda de Regina Chambriard answered: We have to remember that we work with nonrenewable resources, producing 2.7 million barrels every day per day is a challenge. Especially because we have to face production declines. Nevertheless, these declines have been reduced. Just to give you an idea, when we took office, we were looking at a decline of 12% a year. Currently, this decline is in the range of 4% per year due to the better administration of reservoirs and the better water injection, adequate production methods, better deposit management and so on and so forth.管理层陈述
电话会期间：2026 Q2 · 2026-08-07
指引：费尔南多·梅尔加雷霍表示：我们今年上半年的资本支出总计达117亿美元，而全年计划为202亿美元。需求与订单：费尔南多·梅尔加雷霍表示：随着石油及石油产品产销量提升以及布伦特油价上涨，我们的现金创造能力增强，本季度运营现金流达123亿美元，较上一季度增长近50%。分析师问答
分析师布鲁诺·蒙塔纳里提问：有关资本支出、提前推进布济奥斯油田交付、各季度P-80平台的进度安排，以及今年是否会提升P-80平台产量。管理层玛格达·德·雷吉纳·尚布里亚德回应，公司日均270万桶的产量是不可再生资源行业的挑战，且需应对产量下滑，但降幅已收窄：上任年年降幅为12%，如今因优化油藏管理、注水工作、采用合适生产方法等因素，年降幅已降至4%左右。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
