00:00We expect increasing production, even for this beginning of this year, because we have two platforms, big size platforms, humping
00:10up in terms of production.
00:12So we have good news for our investors in this first semester of the year 2026.
00:22Obviously, a lot has changed over the last week or so with the war in Iran.
00:27Is that going to affect what you produce and, more importantly, what you're able to export?
00:33We export as a whole in Brazil something like two million barrels per day.
00:41Half of these belongs to Petrobras.
00:44So the moment we are continuing increasing and humping up our production, we can expect even more production and even
00:54more exports next semester.
00:58And I'm interested about how what's going on in the Middle East might impact your strategy at home, particularly as
01:05it relates to raising fuel prices.
01:07You think about gas, for example, and diesel.
01:10Now that you have Brent, at least right now, trading above $100 per barrel, how long can you hold off
01:16on potentially raising prices of those products?
01:19In general, in general, we follow the international tendance of our price and products price.
01:25So what we do not do is to, in turn, extremely volatility for our consumers.
01:39So what I can say to you is that we are looking closely at all these events and we will
01:48react in the right moment.
01:50Is there any sort of historical precedent for this increase that we've seen in international oil prices and your ability
01:57to continue your production levels,
02:00but at the same time to maintain fuel prices at a level that's going to be acceptable to the public?
02:08The Petrobras is doing something that we're considering reasonable for our consumers.
02:18We deliver the oil and the oil products in the refineries, not for the final consumer.
02:27And again, what we look is the right moment to change prices for more or for less.
02:36But we have to be sure that we are in the pace of the real tendance.
02:41I also want to talk a little bit about this trade of Ormuz, of course, effectively closed at this point.
02:47And I know the company said last week that you have alternative routes that you can use here.
02:52But I'm curious whether you're seeing additional interests come from commercial partners, from investors,
02:58given that you're located far physically from Iran and whether that's increased the interest that you're seeing.
03:05So, the Strait of Ormuz impact us partially.
03:09Our navigation routes do not cross the Strait of Ormuz.
03:17We import oil from Saudi Arabia, and we have an alternative route through the Red Sea.
03:27So, there is not crucial for us to cross the Strait of Ormuz.
03:34In terms of attending our demands, we as well do not depend on the Strait.
03:44So, we have other routes delivering crude oil for Asia, mainly Asia, and that's it.
03:54Fortunately, Brazil is not so dependent on the Strait, although the impacts of the navigation prices, etc., increase for everybody.
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