Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). 

Net income was R$ 2,102 million in Jan-Sep/2015, 58% lower than in Jan-Sep/2014. Loss of R$ 3,759 million in the 3Q-2015.

Operating income was R$ 28,635 million in Jan-Sep/2015, 149% higher than in Jan-Sep/2014.

Adjusted EBITDA was R$ 56,795 million in Jan-Sep/2015, 45% higher than in Jan-Sep/2014.

Net debt was US$ 101,273 million as of September 30, 2015, a 5% decrease when compared to December 31, 2014.

The average maturity of outstanding debt increased from 6.10 years as of December 31, 2014 to 7.49 years as of September 30, 2015.

Net income was R$ 2,102 million in Jan-Sep/2015, 58% lower when compared to Jan-Sep/2014, mainly attributable to higher finance expenses in the Jan-Sep/2015 period.

The 149% increase in operating income was mainly a result of higher margins in oil product sales in the domestic market and increased crude oil export volumes driven by a 7% increase in domestic crude oil production, despite a decrease in domestic demand.

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