PETROBRAS AT A GLANCE

Theodore M. Helms Executive Manager Investor Relations [email protected]

Marcos V. G. Silva Institutional Investors Coordinator Investor Relations [email protected]

June / July 2008

P-51

1 Forward Looking Statements Disclaimer

The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments.

Cautionary Statement for US investors The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC.

2 Petrobras Overview

3 Petrobras: An Investment Grade, Publicly Traded, Major International Oil Company

• Incorporated in 1953 as government monopoly for all hydrocarbon activities in Brazil • Originally established as a refinery of imported crude oil • Became net exporter in 2006 • 60% of total equity capital (common and preferred) is now publicly traded • Government maintains controlling interest with 55% of voting shares • Market cap of approximately $260 billion, NYSE Listed, quarterly disclosure in US GAAP

• Foreign currency ratings from Moody’s of Baa1, Standard & Poors (BBB), and Fitch (BBB) (3, 1, and 1 notch above sovereign, respectively)

First Public Crossed the 2MM bpd, Brazilian Full Auction of Oil Upgraded to $100 billion Brazil Self- $200MM market Constitution Petrobras Exploration Investment dollar Market Sufficient in cap, Discovery Amended NYSE Listing Deregulation Areas Grade Issuer Cap mark Oil of new oil frontier Nov 1995 June 1999 August 2000 January 2002 October 2005 2006 April 2006 2007

4 Diversified Shareholder Base

• 60% of the economic value of Petrobras in private hands, but Government maintains control w/55% of voting shares • More than 500,000 investors in Brazil and abroad • NYSE Listed, quarterly disclosure in US GAAP

9.5% 20.3% 10.9% 26.4% 31.2% 30.3% Foreign 46.4% 10.3% 38.2% 18.0% 9.9% 8.0% 7.9% 25.1% 23.1% 20.7% 21.9% Bovespa 29,8% 53.6% 61.6% 44.4% 40.6% 40.1% 39.9%

Oct/1992 Jul/2000 After Aug/00 After Jul/01 Dec/2003 May/08 offering offering Government (1) (%) Bovespa Brazil Bovespa Foreign ADRs Free 46.4 38.4 55.6 59.4 59.9 60.1 Float

(1) Includes BNDES / BNDESPAR 5 Corporate Organization and Key Operating Results

Exploration & Downstream Gas & Distribution International Production (Supply) Energy

Petrochemicals Biofuels

Summary Financials (US$ billion) Income from Operations(2) Distribution For Year Ended 2005 2006 2007 3% Net Revenues 56.3 72.3 87.7 Downstream EBITDA 17.6 22.9 25.3 16% Capex 10.4 14.9 21.0 Total Debt(1) 21.2 21.3 21.9 Cash & Cash Equivalents 9.9 12.7 7.0 Net Debt 11.3 8.7 14.9 Total Equity 32.9 44.3 65.2 Domesti c E&P Total Assets 78.6 98.7 129.7 81% Notes : 1 Includes capital leases 2 For tthe year ended December 31, 2006. Excludes losses in gas and energy, corporate results and eliminations 6 World Class Integrated Public Energy Company

2007 Proven Reserves (SEC) 2007 Oil & Gas Production

(Bln boe) (‘000s bpepd)

25.0 22.5 4,180 3,771 17.6 4, 000 20.0 3,268 3, 000 2,593 15.0 11.7 11.7 11.2 2,324 2,316 2,301 10.8 10.1 2, 000 1,736 10.0 6.5 1,039 5.0 2.4 1, 000 0.0 0 Exxon BP Shell Petrobras Chevron Conoco Total Enl Repsol Exxon BP Shell Chevron Conoco Total Petrobras Eni Repsol Mobil Mobi l Source: Company Filings, Company Website Source: Company Filings

2007 Refining Capacity Market Value as of June 06, 2008

(‘000s boepd) (US$Bln) 7,000 6,299 500 468 6,000 400 5,000 3,953 4,000 300 284 259 2,769 2,730 2,598 218 207 3,000 204 2,167 2,115 200 160 145 2,000 1,039 51 748 100 1,000 0 0 Exxon Shell BP Conoco Total PetrobrasChevron Repsol Eni Exxon Petrobras Shell BP Chevron Total Eni Conoco Repsol M obil Mobil Source: Company Filings, Company Website Source: Company Filings, FactSet 7 Balanced Vertical Integration Upstream Operations Downstream Operations

- Proved Domestic Reserves of 13,92 Billion BOE (SPE) 11 refineries in Brazil - - Southeast Basins responsible for more than 80% of Brazil’s ƒ oil production - 2007 dome stic throughput of 1,795 k bpd - - 2007 domestic oil average daily Production of 1,792 k bpd - 2007 oil products domestic consumption of 1,725 k bpd 8 Upstream Overview

9 Proven Reserves (SPE) evolution in Brazil

13,92

11,01

6,0

3.8

10 Oil Production Development and Targets

3.000 2812

2421 2.500

1950 2.000

1.500

3 1.000 10 bpd

500

0 Thousand bpd

Year

ONSHORE OFFSHORE <= 300m OFFSHORE > 300m TARGET

G3467

11 Internal Reserves Replacement Ratio (SPE)

....along with a organic reserves replacement 13.75 13.92 13.02 13.23 12.60 1.23 0.88 1.02 0.88

Production Production Production Production (0.60 billion boe) (0.67 billion boe) (0.70 billion boe) (0.70 billion boe)

Reserves Reserves Reserves Reserves 13.04 Replacement 12.00 Replacement 12.35 Replacement 12.52 Replacement Index Index Index Index (170%) (131%) (174%) (124%)

2003 2004 2005 2006 2007

The goal it to keep a minimum 100% Replacement Ratio

12 Long-Term Record of Increasing Reserves

Proven Reserves by Category Worldwide Proved Reserves of Petrobras

(Reviewed and Certified by DeGolyer and MacNaughton since 2001) Oil vs. Gas By Depth Assoc. Gas Non-Assoc. 6% 11% Gas 9% 14.9 14.9 15.0 15.0 10% 14.5 23% Oil and Condensate 12.1 85% 56% 10.7 Onshore 10.4 Offshore (0-300m)

Offshore (300-1500m) Offshore (>1500m) Billion BBLS 11.6 11.8 11.8 11.5 11.7 10.5 By Location By Gravity 9.8 9.3

8%

26% 74%

2000 2001 2002 2003 2004 2005 2006 2007 92% > 31o API Brazil Light Inte rnat io nal < 31o API SEC SPE (inc. SEC) Heavy /Intermediate Note: Reflects both SEC and SPE (Society of Petroleum Engineers) method and includes both Brazilian and international reserves. 13 E&P - rapidly growing production profile 7.7% p.y. 4,153 18 3 8.7% p.y. 3,494 515 * 15 1 285* y. 643 8.3% p. 637 2,300 2,298 2,217 2,036 2,020 1,810 101 109 1,565 1,636 96 1,505 23 85 94 142 126 Thousand boed Thousand 24 163 1,238 35 273 20 161 168 277 1,090 16 44 1,008 53 252 250 265 274 2.812 885 10 60 11 232 2.421 10 9 45 221 47 197 38 25 179 163 1,778 1,792 152 1,684 134 1,500 1,540 1,493 1,336 1,132 1,271 869 1,004 716 809

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2012 2015 Oil and NGL - Brazil Natural Gas - Brazil Target Forecast Oil and NGL - International Natural Gas - International

* Includes non consolidated production 14 MainMain ProjectsProjects inin BrazilBrazil –– 2007-20122007-2012

EspadarteEspadarte MarMar li li m m Sul Sul MóduloMódulo 3 3 –– MódMód ulo ulo 3 3 2,600RioRio dede JaneiroJaneiro Espadarte Mód II P-P- 56 56 100.000100.000 bpdbpd Espadarte Mód II TupiTupi 100.000 bpd Tupi 100.000 bpd Tupi 100.000100.000 bpdbpd 2012 EWT Pilot Sy stem 2012 6/jan/076/jan/07 9 EWT Pilot Sy stem 20112011 UpUp toto CidadeCidade Niterói Niterói UpUp toto 100.000100.000 bpdbpd Piranem a 30.00030.000 bpdbpd Piranem a JabutiJabuti (FPSO) (FPSO) 30.000 bpd 20092009 20102010 2,40030.000 bpd 100.000100.000 bpdbpd 10/oct/0710/oct/07 9 20082008 2,421 FradeFrade CidadeCidade de de VitóriaVitória 100.000100.000 bpdbpd 2,374 Roncador Marlim Sul Módulo 2 Roncador GolfGolf inho inho Mód. Mód. 22 Marlim Sul Módulo 2 20092009 Jubarte 100.000100.000 bpdbpd 9 P-51P-51 2,296 Jubarte ModMod ule ule 44 Nov ember 2007 180.000180.000 bpdbpd Nov ember 2007 P-57P-57 P-62 2,200 2008 P-62 2008 CachaloteCachalote & & Roncador 180.000180.000 bpdbpd Roncador BaleiaBaleia Franca Franca 100.000100.000 bpdbpd P-52P-52 9 2,191 2012 2012 20122012 180.000180.000 bpdbpd 1.950* FPSOFPSO NovNov ember ember 2007 2007 CapixabaCapixaba ParqueParque das das 2,000 ConchasConchas 100,000100,000 bpdbpd Marlim Leste 100.000 bpd Marlim Leste 100.000 bpd 20102010 P-53P-53 20092009 180.000180.000 bpdbpd RoncadorRoncador 1.792 20082008 P-54P-54 9 1,800180.000180.000 bpdbpd NovNov ember ember 2007 2007

1,6002007 2008 2009 2010 2011 2012

Obs.: This curve does not include Tupi’s Pilot System Production

* Target may vary +/- 2.5% 15 E&P: UPCOMING UNITS Units Field Capacity Status Start-up Shipyard FPSO Cidade Oil: 100.000 bpd Modec Jabuti Under construction 2S08 de Niterói* Gas: 3,5 MM m3/dia Sipem - Dubai Oil: 180.000 bpd Nuclep/Brasfels P-51 Marlim Sul 3 Under construction 2S08 Gas: 6MM m /dia Angra/RJ Oil: 180.000 bpd Quip P-53 Marlim Leste Under construction 2S08 Gas: 6MM m3/dia Rio Grande/RS Cidade São Oil: 35.000 bpd Prosafe Camarupim 3 Under construction 2S08 Mateus* Gas: 10 MM m /dia Keppels - Cingapura

3 Mauá-Jurong PMXL-1 Mexilhão Gas: 15MM m /dia Under construction 2009 Niterói/R J Brasfels -FSTP Oil:100.000 bpd Under construction P-56 Marlim Sul 2011 Keppel & Technip Gas: 6MM m3/dia (P-51 Clone) Angra/RJ Oil: 180.000 bpd SBM P-57 Jubarte Contracted 2011 Gas: 2MM m3/dia Shipyard N/A

Oil:100.000 bpd Mauá-Jurong P-62 Roncador 3 Contracted 2012 Gas: 6MM m /dia Niterói/R J

Atlântico Sul Oil: 180.000 bpd Hull contracted. Basic P-55 Roncador 3 2013 Suape/PE Gas: 6MM m /dia project under revision. Rio Grande/RS

* Leas ed 16 Lifting Costs including Government Participation

100.00 96.9

80.00 72.5 65.1

60.00 54.4

38.2

US$/boe 40.00 24.4 24.8 28.8 24.9 19.4 20.00 17.7 14.7 16.2 10.7 11.1 11.7 7.0 8.5 9.0 6.4 3.3 4.0 5.1 8.7 4.3 5.7 6.6 7.7 0.00 3.3 3.0 3.4 2001 2002 2003 2004 2005 2006 2007 1Q08 Lifting Cost Gov. Take Brent

17 Lifting Cost in Brazil

US$/barrel 50 R$/barrel

43.20 40.98 40 37.92 35.03 40 120 34.12 96.9 100 30 88.7 25.76 28.04 30 23.26 74.9 24.82 80 18.92 20.58 68.8 23.16 57.8 20.13 20 20 17.95 60 16.24 14.56 16.16 12.48 40 9.04 10.62 10 10 20 15.20 14.45 14.66 15.22 15.16 7.20 7.33 7.65 8.60 8.66 0 0 0 1Q07 2Q07 3Q07 4Q07 1Q08 1Q07 2Q07 3Q07 4Q07 1Q08

Lifting Cost (US$) Gov.Part. (US$) Brent Lifting Cost (R$) Gov. Part.(R$)

Lifting Cost relatively stable both in Dollar and Reais terms despite higher oil prices and continued ramp up of new production units. Government participation increased as a reflect of higher international crude oil prices. 18 Distribution of the Realization Price of a Barrel of Domestically Produced Oil ($)

Regulatory framework lets government and companies profit from higher oil prices.

$60.00

$50.00 $18.67

$40.00 $15.93

$13.25 $11.69 $30.00

$11.05 $9.29 $9.00 $20.00 $8.42 $9.74 $5.34 $6.44 $8.36 $4.26 $6.88 $3.42 $5.14 $3.29 $2.54 $5.01 $10.00 $2.07 $4.42 $3.84 $2.89 $ per Barrel Realization Price Realization $ per Barrel $2.20 $2.06 $2.15 $2.15 $1.46 $7.70 $5.73 $6.59 $3.22 $3.04 $3.48 $4.28 $- 2001 2002 2003 2004 2005 2006 2007

$(10.00)

Lifting DD&A Exploratory costs SG&A R&D Other Other COGS Inc ome Tax Government take Ne t Income

19 Distribution of the Realization Price of a Barrel of Domestically Produced Oil (%)

100.0%

24.1% 26.2% 35.1% 31.6% 32.9% 33.4% 33.5% 80.0%

18.6% 16.8% 60.0% 21.9% 21.4% 22.3% 23.2% 21.0% 11.7% 12.4%

40.0% 17.0% 17.5% 16.0% 17.0% 17.5%

20.0%

18.2% 14.9% 14.5% 14.6% 14.2% 13.8% 13.8% % Shareof% Price Realization 0.0% 2001 2002 2003 2004 2005 2006 2007

-20.0%

Lif ting DD& A Exploratory costs SG&A R&D Other Other COGS In c o me Ta x Government take Net Income

20 Royalties and Special Participation

Royalties • Rates vary according to the area (from 5% to 10% per producing field) and are established in each concession contract. The reference price is published for each field, according to the characteristics of the oil / gas, by the Brazilian regulator – ANP. Special Participation • Progressive tax (from 10% to 40%) applied over the operating income from oil and gas production. Tax depends on the year of production, daily production and location (Land, Offshore Shallow Water or Offshore Deep Water). 7,356 7,619 8,000 7,000 5,562 6,000 3,729 3,850 5,000 3,670 4,000 2,998 2,989 3,000 2,331

US$ Million * 1,954 1,576 2,000 1,131 3,506 3,890 1,000 1,716 2,573 1,200 1,422 0 2002 2003 2004 2005 2006 2007

Royalties Special Participation

* Values in BR GAAP converted to USD by historical forex rate 21 Special Participation – Progressive Tax

Special Participation frame for deep water shelves: 40% 30% 35% 10% 20% Tax Rates

First Year

/day) of 15 20 25 30 35 3 Production

Second Year of 11.7 16.7 21.7 26.7 31.7 Production

Third Year of 8.3 13.3 18.3 23.3 28.3 Production 6.3 conversion Factor conversion 6.3 After the Third Year of 5 10 15 20 25 Production Daily productionDaily (thousand m

22 Exploration Perspectives

23 MainMain DiscoveriesDiscoveries -- 2002/2007 2002/2007

Î ~ 13.0 billion boer (2002-2007)

ƒ Proven Reserves...... : 3,80 B boe ƒ Prob.&Poss. Res...... : 4,50 B boe ƒ Under Evaluation (2007).: 4,70 B boe

Sergipe-Alagoas Light Oil

Espirito Santo Light Oil & Natural Gas

Campos Producible Heavy Oil & Light Oil Santos Light Oil & Natural Gas

24 Oilfields discovered/defined in 2002-2007 in the Southeastern offshore basins

25 EarthEarth developmentdevelopment

152 Million Years ago

26 EarthEarth developmentdevelopment

Earth Planet as today

27 PrePre SaltSalt ProvinceProvince

Tested Wells HC Campus Exploratory B lock’s Pre Salt Reservoirs

28 RecentRecent Oil/GasOil/Gas discoveriesdiscoveries 2006-20072006-2007 -- Cluster Cluster BlocksBlocks

Production to date: 7 bi boe Actual Production: 1.6 MMboepd Producing Wells: 542 Area: 7,000 km2

Pre-salt Cluster 15,000 km2 Tupi: 5 a 8 bi boe 29 Santos Basin Pre-Salt Seismic Section

30 PrePre SaltSalt –– Santos Santos BasinBasin

BM-S-42 BM-S-52 (Corcovado)

(Yara) BM-S-50 BM-S-10 (Parati)

BM-S-11 (Tupi) BM-S-24 (Jupiter)

BM-S-8 BM-S-9 (Guará) (Bem-te-Vi) (Carioca)

BM-S-22 BM-S-21 (Caramba) BM-S-17 Wells Being Drilled Wells Drilled 31 ExtendedExtended WellWell TestTest -Tupi-Tupi

FPSO – Leased*

Capacity

Water Depth 2.170 m

Capacity to Process Oil 30,000 bpd

Oil Range 28 – 42 º API

Wells 1 Oil Production

Flare Capacity 1000 thous. m3

Riser to export Gas 1 1st Oil: March/2009

* Leased from BW Offshore 32 TupiTupi Pilot Pilot System–System– Production Production UnitUnit

Capacity

Water Depth 2.145 m

Capacity to Process Oil 100,000. bpd

Capacity of Gas 4 million m3 /d Compression Water Injection 100 mil bpd Water Production 60 mil bpd

Oil degree 20 – 30 º API

5 oil production (+4 extra) Wells 2 water injection (+3 extra) 1 gas injection (+1 extra) 1st Oil: Dec./2010

33 GasGas PipelinePipeline forfor Tupi’sTupi’s Pilot Pilot SystemSystem

UGN UTGC A 1 RPBC 4 K 5 m

PMXL 2 1 170 2 K Km URG m T o s 24 e 8 rv K ic m e th e PMLZ-1 P ilo t TUPI Area Existing Planned TEFRA N Under Construction

34 Consortia for the Pre-salt blocks in Santos Basin

Block Appraisal Plan ANP Name Consortium BM-S-8 Bem-te-vi BR (66%), SHELL (20%), PETROGAL (14%) BM-S-9 SPS-50 Area Carioca BR (45%), BG (30%), REPSOL (25%) BM-S10 RJS-617 Area Parati BR (65%), BG (25%), PARTEX (10%) BM-S-11 RJS-628 Area Tupi BR (65%), BG (25%), PETROGAL (10%) BM-S-17 BR (100%) BM-S-21 SPS-51 Area Caramba BR (80%), PETROGAL (20%) BM-S-22 ESSO (40%), AMERADA (40%), BR (20%) BM-S-24 RJS-652 Area Jupiter BR (80%), PETROGAL (20%) BM-S-42 BR (100%) BM-S-50 BR (60%), BG (20%), REPSOL (20%) BM-S-52 BR (60%), BG (40%)

2 blocks 100% Petrobras 3 Appraisal Plans approved 5 blocks with partners, Petrobras operates 1 block as non-operating partner 35 Pre-salt discoveries in Espírito Santo State (Campos Basin)

BLA 4-ESS-149 1-ESS-122 N CHT 1-ESS-116 6-CHT-4

3-ESS-110HPA 1-ESS-119 BFR JUB NAU 1-ESS-103 1-ESS-103A-ES S BAZ 1-ESS-125 4-ESS-135 MGG Gasene

4-ESS-172 CXR 3-ESS-175 PRB CTU 4-ESS-175-ES 4-ESS-172-ES

7 Well tests showed high productivities in 7 km the pre-salt reservoirs.

Cachalot e Anã Argonauta

Franc a Ostra 20 km Jubarte Náutil us Azul Mangangá Caxaréu Abalone

Pirambú

Catuá 36 New Rigs & Drilling Unit Contracting From Start Up Start Up Start Up Water Depth 2007 Start Up 2008 Start Up 2009 2013 to 2010 2011 2012 2017 • Pride South Atlantic •Petrobras 0-999m 5 • O. Yorktown XIV • Pride Mexico • Borgny Dolphin • Ocean Concord • Falcon-100 1000-1999m •Olinda Star 18 •Ocean Worker •Lone Star •Gold Star •Delba IV •Delba V ≥ 2000m 5 •Schahin III •Schahin I •Delba VI •Petrorig II •Norbe VI •Scorpion •Sevan Driller •Delba III •Delba VII + 28 •West Taurus •SSV •Delba VIII new •West Victoria •Norbe IX units Eminence •West Orion •Schahin 1 to be •Dave Beard •Schahin 2 leased •Norbe VIII •Petroserv •Etesco 8 •Sevan Brasil

Total per year 28 6 9 7 1 12 28

Cumulative 6 15 22 23 35 63

• Stena Drillmax e Dep Water Millennium are not being considered since they are being negotiated in the Spot Market 37 Exploration Activity (1998 - 2007) Wells & Seismic

• Espírito Santo Î 55 wells offshore TOTAL: •Campos Î 205 wells offshore • Santos Î 80 wells offshore 794 exploration wells • Other Basins 40% overall success ratio Î 335 wells onshore 2007 Î 59% Î 103 wells offshore

400%

300%

1998/2007 200% ~ 560,000 km 2D seismic 100% 0% ~ 140,000 km2 3D seismic 2003 2004 2005 2006 2007 Reserve Replacement Ratio (SPE/ANP Criteria)

38 Equatorial Margin Exploratory Wells 2008-2012 (12)

Ceara & Potiguar Solimões (23) AP (8)

Potiguar (88) onshore: 70 offshore: 18

SEAL& REC & TUC (90) onshore: 70 offshore: 20

São Francisco (4) Bahia Sul (26)

Esp.Santo (85) onshore: 45 offshore: 40

Campos (74) Exploration:Exploration: US$US$ 13.8 13.8 billion billion Santos (80) Petrobras Other Companies Pelotas (2) 39 E&P Concessions in Brazil

Active concessions Jan/2007

PetrobrasPetrobras ConcessionsConcessions OtherOther TotalTotal ConcessionsConcessions 100%100% PParnershiparnershipss TotalTotal CompaniesCompanies BrazilBrazil W.IW.I ExplorationExploration BlocksBlocks 64 64 80 80 144 144 218 218 362 362 ExplorationExploration EP´sEP´s 5 5 5 5 10 10 0 0 10 10 ProductionProduction 285 285 20 20 305 305 29 29 334 334

TotalTotal354354 105 105 459 459 247 247 706 706 Petrobras & Partners Other Companies

Note: number of concession contracts (not considering the concessions from the 9th Bidding Round) 40 Downstream Overview

41 Domestic Oil Products Market

Thous. bpd 2,732 . % p.y 3000 2.76 2,337 2500 2,039 345 1,918 138 287 116 2000 228 198 95 120 1105 1500 902 779 728 173 1000 129 96 84 281 281 249 282 500 432 330 340 386 208 217 237 257 0 2007 2010 2015 2020

LPG Gasoline Naphta Jet Fuel Diesel Fuel Oil Others 42 Total Downstream Spending of $29.6 Billion

21%

28%

Fuel Quality 8,619 Conversion 3,938 8% Expansion 5,353 Maintaining Balanced integration HSE 1,083 between Refining and Production Transportation 8% 2,270 Pipelines 13% 2,264 4% 2,167 Others 6,112

18% 1,792

2,412 Year 2012 2011: New Refinery in Brazil to add 200 Total Refining Capacity (‘000s. bpd) ‘000s. Bpd cap. New Refinery in Domestic Oil Production (‘000s. boed) Texas expanded & upgraded

43 How Petrobras is dealing with these challenges?

30 2.191 2.296 2.374 2.421 3.000 1.792 1.950 29 2.000

28

1.000 b/d Thous.

27 0 26 -1 .0 00 25 API DegreeAPI -2 .0 00 24

23 -3 .0 00

22 -4 .0 00 2007 2008 2009 2010 2011 2012

Average Processed API Average Produced API Domestic Production

• Increasing the capacity of processing low API degree oil. • In 2012 our refineries will have the capacity to process most of our heavy oil produced

44 Net Exports of Oil and Oil Products

Exports (‘000s barrels/day) Imports (‘000s barrels/day)

581 615 595 559 538 523 141 488 446 262 109 446 409 246 424 148 118 260 105 94 334 213 228 125 450 454 390 335 353 319 352 370 233 263 181 209

2003 2004 2005 2006 2007 2012 2003 2004 2005 2006 2007 2012 Oil Oil Products

45 Corporate Targets – Downstream

3800 100 90 92 90 3300 3,007 80 2800 348 78 2,409 70 2,046 2300 348 60 1800 251 50 2,061 2,659 1300 1,795 40 30 800 20 300 10

-200 2007 2012 2015 0

Throughput - Brazil Throughput - International Domestic Crude Oil as a % of total

46 Average Realization Price - ARP

1Q07 4Q07 1Q08 120 Average Average Average 104.25 100 96.77

80 71.50 89.08 96.90 93.90 88.69 60 68.86 57.75 40

20 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08

ARP Brazil (US$/bbl) Average Brent Price(US$/bbl) ARP (US$/bbl with Vol. Sold in BRl)

• Up to 4Q07, ARP in Brazil affirmed our policy of aligning the domestic prices with international prices in the mid/long term; • From 4Q07, due to a sustained increase in international prices, the spread between prices in Brazil and in USA led to the readjustment of diesel (15%) and gasoline (10%) prices effective as of may 2nd.

47 Downstream Business Strategy

Complexo Petroquímico do Rio de Janeiro - COMPERJ

•Total Investment: US$ 8.4 billion (Petrobras Investment US$4.6 billion); • Throughput capacity: 150 thousand heavy oil barrels (Marlim oil from Campos Basin); • Start Up: 2012 • Refining and Petrochemical Integrated Complex that through the use of new technologies process heavy oil to obtain oil products and first and second generation petrochemical products.

New Refinery in Pernambuco

• Total Investment: US$ 4.1 billion (Petrobras Investment US$2.4 billion); • Throughput capacity: 200 thousand heavy oil barrels (60% Petrobras oil / 40% PDVSA oil); • Focusing diesel and LPG production maximization, the new refinery will aim the growth of oil products demand in the Northeast. •The Northeast Region, which responds for 19% of oil products demand and holds only one refinery in Bahia, will no longer be a fuel importer (either from refineries in Brazil or abroad); • Costs reduction: oil products transportation are more expensive than for crude oil; • Start Up: 2011 48 Downstream Business Strategy – Northeast Region

Refinery in Rio Grande do Norte • Petrobras will deploy its 12th refinery in the state of Rio Grande do Norte. • New plant to produce gasoline and improve the quality of other oil products (Jet fuel, Diesel and LPG) produced in existing facilities in Guamaré. • Capacity: 80,000 bpd. Start-up scheduled for 2010.

Premium Refinery in Ceará • Petrobras will study, together with Ceará State, the possibility of installing a Premium refinery; • Capacity: 300,000 bpd; • The refinery’s first operation phase is scheduled to start in 2014.

Premium Refinery in Maranhão

• Petrobras will study, together with Maranhão State, the possibility of installing a Premium refinery; • Capacity: 600,000 bpd; • The refinery’s first operation phase is scheduled to start in 2013. 49 Downstream Business Strategy

Refinery in the USA • Petrobras has acquired 50% of the Pasadena Refinery System Inc. (PRSI), located in Texas, USA; • Capacity of 100,000 bbl/day, will be upgraded to handle up to 70,000 bbl/day of heavy oil and feedstock; Refinery in Japan

• Petrobras signed the purchase document of 87.5% interest in the Japanese Company Nansei Sekiyu Kabushiki Kaisha (NSS)- with total value of approximately US$ 50 million

ƒ Acquisition includes: ƒa refinery with capacity of 100 thousand bpd, that process light crude oil and high quality products, ƒa crude oil and products terminal with storage capacity of 9.6 million barrels, three piers with capacity to receive product vessels of up to 97 thousand deadweight tonnage (dwt), ƒa mono buoy for Very Large Crude vessels (VLCC) of up to 280 thousand dwt. ƒ The use of terminal capacity is planned to boost the commercialization of biofuels in Japan and other Asian markets and complement current trading of crude oil and products into Asian market of approximately 100,000 bpd. 50 Petrochemical Overview

51 Petrochemical: capturing synergies

Other Partners

Production 1st Generation 2nd Generation 3rd Generation

• Ethane • Styrene • Oil • Packages • Benzene • Ethylene Glycol • Gas • Bags • P-Xilene • Polyethylene • Bottles • Propane • PTA • Etc. • Polypropylene

• Expanding operations in 1st and 2nd generation processes and capturing synergies related to the production of oil, gas, refining and petrochemicals; • Developing new technologies for the chemical industry: evolution of fluid catalytic cracking (FCC) and biodegradable polymers and biopolymers. 52 Current petrochemical structure in Brazil

Braskem SUZANO PETROQUÍMICA (SZPQ) 1,280 kta ethane 685 kta PP 530 kta propane 76.6% PETROBRAS 1,265 kta PE 23.4% others 560 kta PP

POLIETILENOS UNIÃO (PU) +DOW 6.8% PETROQUISA 44.6% Grupo Odebrecht 274 kta PE 100% UNIPAR 44.9% Others UNIÃO DIVISÃO QUÍMICA (UDQ) PETROUÍMICA PAULÍNIA (PPSA) 210 kta 100% UNIPAR cumene 300 kta PP 40% PETROQUISA COPESUL 60% Braskem 1,200 kta ethane 37.3% PETROBRAS 600 kta propane 62.7% Braskem RIOPOLÍMEROS (RIOPOL) IPIRANGA PETROQUÍMICA (IPQ) 16.7% PETROQUISA 33.3% UNIPAR 550 kta PE 40.0% PETROBRAS 540 kta PP 33.3% SZPQ 180 kta PP 60.0% Braskem 16.7% BNDES PETROQUÍMICA UNIÃ0 (PQU) PETROQUÍMICA TRIUNFO 17.44% PETROQUISA 85.04% PETROQUISA 500 kta ethane 51.4% UNIPAR 160 kta PE 14.6% PETROPLASTIC 250 kta propane 8.4% SZPQ 0.7% TRESUARY 22.76% OTHERS 53 Structure of petrochemical industry, upon final consolidation

Sociedade Petroquímica Braskem

500 th.tpy ethane 2,480 th.tpy ethane 250 th.tpy propylene 1,130 th.tpy propylene 210 th.tpy cumene 1,975 th.tpy PE 814 th.tpy PE 1,040 th.tpy PP 685 Kta PP

25.0% PETROBRAS/PETROQUISA 40.0% PETROBRAS/PETROQUISA 37.2% Grupo Odebrecht 60.0% UNIPAR 37.8% Others

Benefits to Petrobras and the Brazilian Petrochemical industry:

9 Petrobras becomes a significant minority shareholder in each complex;

9 Integration, scale, and synergies Ensures competitiveness of the Brazilian petrochemical industry;

9 Expands financing and investment capacity for expansion 54 International Overview

55 International - Overview

United Kingdom.

New York USA Turkey Hous ton Portugal Tokyo Jordan Okinawa Li bya Iran Beijing Pakistan M exi co Senegal Nigeria India Colombia Venezuela Ta nza nia Singapore Ecua dor BRAZIL Angola Peru Mozambique

Bolivia Paragay Rio de Janeiro Urugua y Core Areas: HEAD OFFICE Argentina REPRESENTATIVE OFFICE • Refining REFINING • Add value to Brazilian heavy oil exports TRADING • E&P: West Africa & Gulf of Mexico: EXPLORATION AND PRODUCTION • Apply deep water and deep well drilling technology. • Latin America: • Leadership as an integrated energy company 56 International – Investment Breakdown

70% 2008-12 Period 19% US$ 15 billion 32% 2.7 10.5 70% will be 4.9 directed to E&P 2.8 19%

1.7 1.4 1% 0.5 3.7 0.9 1% 15% 9% 6% 3% 25% USA Under Evaluation E&P RTCP G&E Distr. Corp. Ar ge n tina Nigeria Angola Others

183

151 515 108 285 112 Thous. boed Thous. 2007 2012 Target 2015 Forecast Oil and NGL Natural Gas 57 Cascade-Chinook Development

- Petrobras America operated fields - Water Depth ~ 2,500 meters (8,200 feet)

- US regulators approved Petrobras plans to bring first FPSO (*) to the US Gulf of Mexico

- Technologies new to US Gulf of Mexico, including disconnectable turret buoy, allowing the vessel to move offsite during hurricanes, and transportation via shuttle tanker

Shuttle FPSO Tanker

Gas Export FS HR Pipeline

ChinookChinook Flowline Control Power Umbilical Umbilical

CascadeCascade Tree Manifold

(*) FPSO – Floating, Production, Storage and Offloading facility. Petrobras has an extensive experience in the use of FPSO with fifteen units currently under operation offshore Brazil.

SOURCE: PETROBRAS AMERICA INC 58 International – West Africa Start up / Production Peak: Operator of new Block OPL AGBAMI (PB 13%, Operator: Chevron): 315 with stake of 45% - First oil: 2008 / Peak: 250,000 bpd in 2009 (total) Petrobras stake: 32,500 bpd AKPO (PB 20% - Operator: Total): - First oil: 2008 / Peak: 175,000 bpd in 2009 (total) Petrobras stake: from 70,000 to 100,000 bpd

1,000m

2,000m ƒ 6 blocks (1 in production) ƒ Operator in prolific Block 18 with 30% stake (First oil: 2010)

59 Gas and Energy Overview

60 Increasing demand for Natural Gas

Participation of the Natural Gas in the Brazilian Energy Matrix

9.4%

Gasbol

Campos Basin 4.7%

2.0%

1970 1980 1989 1990 1998 1999 2000 2002 2004 2006

• In 16 years, natural gas participation in the energy matrix increased 370%, boosted by the ramp up of Campos Basin production and Gasbol pipeline.

Source: MME, BEN 2006 61 Natural Gas Supply Vs. Demand

Million cu.m/day

Average Demand Average Supply 160 140 134 134 120 43,9 31,1 LNG 100 Bolivia 49,2 42,1 30,0 80 60 18,4 5,5 40 10,9 16,1 E&P 48,0 72,9 20 1,7 25,3 0,9 1,9 0,5 12,5 0 9,4 1998 2000 2007 2012 2012 Termeletric Industrial Other Uses*

•Other uses: vehicle, residential / commercial, refineries e fertilizer plants •Source: Petrobras and MME 62 Domestic Natural Gas Supply Curve

Million m3d UrucuUrucu UruguáUruguá - - 80 TambaúTambaú PirapitangaPirapitanga Peroá-CangoáPeroá-Cangoá BaciaBacia CamposCampos MexilhãoMexilhão

70 CanapuCanapu ManatiManati 71.1 71.3 70.8 Camarupim 60 RioRio dede JaneiroJaneiro Camarupim 64.1 MarlimMarlim Sul Sul EspadarteEspadarte EspadarteEspadarte MódMód II II AlbacoraAlbacora MóduloMódulo 33 -- P-56 P-56 Módulo 3 (water(water Módulo 3 50 45.7 FradeFrade injection)injection) CidadeCidade dede VitóriaVitória JubarteJubarte GolfinhoGolfinho Mód.Mód. 22 ParqueParque dasdas 40 Conchas P-57 LagostaLagosta Conchas BarracudaBarracuda P-57 28.0 (infill(infill drilling) drilling) 30 CidadeCidade NiteróiNiterói JabutiJabuti (FPSO)(FPSO) 20 RoncadorRoncador P-52P-52 MarlimMarlim Sul Sul MóduloMódulo 22 P-51P-51 10 RoncadorRoncador Non-associeted natural gas P-54 P-54 Marlim Leste Marlim Leste Associated natural gas 0 P-53P-53 2007 2008 2009 2010 2011 2012 63 NaturalNatural GasGas supplysupply extensionextension inin SoutheastSoutheast

PLANGAS Targets Upgrade of PLANGAS Targets UTGC to 20 MM 2008 - 40 MM m3/d m3/d 2010 - 55 MM m3/d Peroá/Cangoá La goa Par da ESS-168 Belo Hori zonte 2008 Vitória 2008 UP GN Capixaba South Camarupim Canapu 25 MM m3/d Ubu ESS-160 Golfinho Módulo 2 Upgrade of Parque das Cabiúnas/ REDUC to 23 MM m3/d Conchas Cabi úna s Cacimbas Campinas Upgrade of UTGCA to 15 20082008 P-52 Roncador Módulo 1A MM m3/d Rio de Janeiro Caraguatatuba P-54 Roncador Módulo 2 Garoupa Marlim Leste – Módulo 2 (Jabuti) Guararema Namorado P-53 Marlim Leste Customization of REDUC Enchova P-51 Marlim Sul Módulo 2 UP GN Cubatão to 25 Plataforms of MM m3/d 2009 UN-BC and UN-RIO 2009 Tambaú

Mexilhão Uruguá Cabiúnas 2008 Merluza 2008 20102010 TOTAL SOUTHEAST Lagos ta END OF 2010: Cubatão 55 MM m3/d Caraguatatuba (+ 39,2 MM m3/d)

64 LNGLNG -- Infra-Estrutura Infra-Estrutura && LicencingLicencing

Projects being developed

Pacem 7mm cu.m/d – jul/2008 Guanabara Bay 14 mm cu.m/d sep/2008

VT1: Golar Winter VT2: Golar Spirit Company: Golar LNG Ltd. Company: Golar LNG Ltd. To be delivered in: apr/ 2009 Delivered in: may /2008

65 Natural gas pipelines network Investment: US$ 4.5 bi between 2008-2012 Belém Urucu-Coari-Manaus (includes LNG Regas.)

Manaus

Network Extension Açu-Serra do Mel 2003 – 5,282 km Rec if e 2006 – 5,324 km Pilar-Ipojuca Catu – Carmópolis – Pilar 2007 – 6,481 km + 3,749 km 2008 – 7,511 km Salvador Cacimbas – Catu (GASENE) 2009 – 9,031 kmBrasília

Existing pipelines Gasduc III

Gasbel II Pipelines in Japeri-Reduc construction Caraguatatuba – Taubaté LNG Terminals Expansão de Capacidade Gaspal II / Gasan II Gasbol Sul Natural Gas Production

66 Renewables

67 RenewableRenewable EnergyEnergy andand BiofuelsBiofuels (2008-2012) (2008-2012)

2008-2012 Investments 2012 Target

Availability of 938 Thousand BiodieselPlants m3/year

Guamaré Biodiesel Plant Vegetable oil Processing H-Bio (Bio-Refining) 1.6 million m³/year US$ 1.5 billion Investments Ethanol pipelines Export of 4.7 billion m³/year of 4% Ethanol Project Vessel Ethanol 21% 29% Aeolic Energy Installed Capacity of Generation Solar Energy of Electric Power from 365 MW Other Sources of Renewable Sources Renewable Energy

Lignocellulosis 46% 9 Begun operation of the First Ethanol Lignocellulosis Pilot Plant, in Brazil. 9 The pilot phase is focused on the optimization of the Biofuels production process of the bio ethanol (second generation fuel Pipelines and Ethanol Pipelines which diminishes environmental impacts) Others 9 Semi- Industrial bio ethanol plant: Forecast 2010 H-Bio

•Total avoided GHG emissions: 3.93 MM tons CO2 equivalent 68 RawRaw MaterialMaterial ComparisonComparison

Energy Production / ha Quantity of out/ Energy RAW MATERIAL (kg) Ethanol/ ha in

SUGAR CANE 85,000 7.080 liter 8,3

CORN 10,000 4.000 liter 1,3 - 1,8 Type (Land use in Brazil) Area (MMha) Current Market Distribution of World ethanol consumption • Total country 851 • Native Amazon Forest 370 • Secondary Amazon Forest and Others 180 • Native Forests 6 Today the ethanol consumption is • Pasture 197 2,6% of gasoline MKT Increasing • Temporary Crops 59 ethanol to 10% of gasoline will • Permanent Crops 7,6 represent 118 Billion Lt (more than 2 million barrels per day) • Available land 263 • Available land with low impact (*) 90

Source: FAO, 2002 and EMBRAPA (*) 69 Ethanol

Brazil is the 1st country to reap benefits from Ethanol Original drivers were energy security and economic attractiveness; CNG ETHANOL Today environmental benefits are also a consideration. GASOLINE

160000

140000 Fuel demand for Otto

120000 Cycle Vehicles

10000

80000

60000

40000 Accumulated effective economy:

20000 1,2 Billion boe ~ US$ 61 bi Source: MME, BEN 2006

1000 BEP 0

1972 1976 1980 1984 1988 1992 1996 2000 2007

In this period, ethanol utilization avoided 675 million tons CO2 emissions. 70 Petrobras Investments to Export Ethanol Ethanol collection, storage and distribution centers are spread out New Ethanol Pipeline through producing and (1.150 Km) consuming regions New Pipeline (1412 km) New Water Way Large scale for Ethanol Replan – Ilha Dág ua Pipeline (Current flow) marine Tietê- Par aná Water way terminals Senador C anedo – S ão S ebasti ão Pipeline improve Replan – Bras ília Pipeli ne (OS BRA) efficiency Replan – Guararema Pipeline

Existing Pipeline

Future Pipeline New Ethanol Pipeline (919Km) E xisting T ermi nal Future Ter minal

Large storage Exportation capacity necessary to Rio de Janeiro regulate supply São Paulo Marine Terminal Pipelines Marine Terminal reduce transport costs; improve energy efficiency Target: Export 4.75 MM cu.m/year in 201271 Financial Considerations

72 Corporate Strategy

Corporate Strategy Commitment to sustainable development Integrated Social and Environmental Profitability Growth Responsibility

Expand operations in target markets for oil, oil products, petrochemicals, gas and energy, biofuels and distribution, being a world benchmark as an integrated energy company

To grow To expand Develop and Expand Operate on a global lead the operations in basis in biofuels production integrated commercialization and oil and operations in Brazilian natural petrochemicals gas market and in Brazil and and logistics, gas reserves refining, leading the domestic sustainably, operate on an South America commercialization, integrated basis on an integrated production of being logistics and in the gas and basis with the biodiesel and recognized for distribution with a electric energy PETROBRAS expanding excellence in focus on the markets with a Group’s other participation in the E&P Atlantic Basin focus on South businesses ethanol segment operations America

Operational, management, technological and human resources excellence

E&P Downstream Petrochemicals Biofuels (RTC) Distribution Gas & Energy 73 Petrobras’ Business Plan

Indexes 2007-2011 Plan 2008-2012 Plan

FX rate (R$/US$) 2.50 2.18 2008 – 55.00 2008 – 40.00 2009 – 50.00 Brent for Funding (US$/bbl) 2009-2011 – 35.00 2010 – 45.00 2011-2012 – 35.00 Projected Net Cash Flow (Including 86.7 104.4 Dividends)

Projected Investments for 2008-2012 83.5 112.4

Net Debt/ Net Debt + Shareholders’ Equity 25 20 (Leverage) (%)

Return on Capital Employed (ROCE) (%) 16 14

(*) PPP – purchase power parity 74 Investment Plan by Business Segment

2008-12 Period 58% US$ 112.4 billion 13%

65.1 15.0

1.5 97.4 2.6 29.6 1% 2.6 2% 4.3 6.7 26% 87% 2% 4% 6% Brasil Internacional E&P RTC G& E Petrochemical Distribution Corporate Biofuel

• US$ 65.1 billion directed to E&P: • Exploration: US$ 13.8 billion • Production: US$ 51.3 billion Note: Includes International 75 Investments – Segments breakdown

US$ Million R$ Million

Budget 20071,4 (US GAAP) 2007 (BR GAAP) 2008* 6,8 Exploration & Production 9.448 20.813 25.902 Supply0,8 4.488 10.536 14.312 Gas & Energy 3.223 4.817 5.636 5,6 International 2.864 25,9 6.574 6.828 Distribution 327 1.670 781

Corporate14,3 628 875 1.406 Total Investments 20.978 45.285 54.865

*R$/US$ = 1,7713 (date12/31/2007)

*Forecast R$/US$ = 1,80 (average)

76 Strong returns have enable company to grow without increasing debt

Historical ROCE Consolidated Cash Flows 74.3 BN 2003-2007 U.S. GAAP 25,0% Inc. Debt

20,0% Dividends 15,0% CFFO 10,0% (including W.C.) 5,0% Capex 0,0% 2003 2004 2005 2006 2007

Operating Income and Assets by Segment - 2007 (US GAAP – US$ Millions) Sources Uses E&P Downstrea Gas & Distri- Int’l (Brazil) m (Brazil) Energy bution Net Op. Inc. 14,072 2,785 (834) 446 (815)

PP&E (inc. Dep.) 48,529 14,480 10,615 1,838 7,596

O/w Construction 13,558 9,371 6,023 291 1,144 in Progress

Source: Petrobras and Bloomberg 77 Shareholder Remuneration

14.000 50%

12.000 45%

40% 10.000 34% 35% 8.000 30% 30% 29% 29% 30% 6.000 25% 25% 4.000 20%

2.000 15%

- 10% 2002 2003 2004 2005 2006 2007

Net Income Dividend Dividend as % of Net Income

• According to the Brazilian Corporate Law, shareholders are entitled to a mandatory dividend of 25% of the annual net income. • In the last years, Petrobras has been paying an average of 29 to 30%.

78 Total Shareholder Return versus the oil industry

140% Total Shareholder's Return 131,4% 7.6% 120% 111,5% 15.8% 100% 85,2% 6.0% 80% 123.8%

79.2% 50,5% 60% 95.7% 43,6% 6.0% 40% 7.5% 44.5% 39.5% 34.1% 20% 30.2% 31.5% 36.1% 22.8% 0% 2003 2004 2005 2006 2007

Shares increase Dividends Amex Oil Index (*) Source: Bloomberg * inc ludes dividends for comparison purpos es

PBR’s yield surpassed Amex Oil in the last 5 years

79 Capital Structure and Credit Metrics

(US$ MM)

2007 2006 2005 Cash and Cash Equivalents 9,871 12,688 6,987

Total Debt 21,895 21,338 21,177

Net Debt 14,908 8,650 11,306 Shareholders Equity 65,179 44,299 32,917

Net Income 13,138 12,826 10,344 EBITDA 25,333 22,923 17,638

Net Debt / Book Capital 18% 16% 26% Net Debt/ Market Capital 6% 8% 15% Net Debt / Boe Production (X) 15.4 10.3 13.9 Net Debt / Proved Reserves (X) 1.1 0.8 1.0 Reserves/Production (Years, SPE Criteria) 18.9 18.9 19.6

80 Cash Flow

Year ended December 31 2007 2006 2005

Cash Flow from Operating Activities Net Income$ 13,138 $ 12,826 $ 10,344 Depreciation$ 5,544 $ 3,673 $ 2,926 Other (inc.W.C.)$ 3,982 $ 4,578 $ 1,845 CFFO$ 22,664 $ 21,077 $ 15,115

Net Cash used in Investing Activities Capex and other$ (20,768) $ (14,470) $ (10,376) Acquisitions$ (1,551) $ (416) $ - Puchase Marketable Seceurities$ (1,707) $ 205 $ 169 Total Investments$ (24,026) $ (14,681) $ (10,207)

Cash Flow From Financing Activities Amortizations$ (6,670) $ (4,167) $ (2,652) Additions to Debt$ 4,542 $ 2,957 $ 2,131 Dividends and other$ (3,860) $ (3,144) $ (2,104) Net from Financing$ (5,988) $ (4,354) $ (2,625)

Increase (decrease) in cash and cash equivalents$ (7,350) $ 2,042 $ 2,283 Effect of exchange rate changes on cash and cash equivalents $ 1,649 $ 775 $ 732

81 Investment final considerations

Operational Strengths Financial Strengths

¾ World class energy company, ¾ Investment grade ratings dominant in a market with (Baa1/BBB-) from Moody’s and diverse and abundant S&P opportunities ¾ SEC registrant; quarterly US ¾ Long term record of increasing GAAP disclosure, SOX compliant reserve base ¾ Publicly-traded entity; NYSE ¾ Superior production growth listed leading to net exports ¾ Diversified and stable funding ¾ Growing refinery complexity sources improving margins ¾ Growth plan self-financing ¾ International pricing ¾ Attractive relative value versus environment Republic of Brazil and other high grade energy issuers

82 Petrobras at a Glance - Results and Perspectives

Thank You

For more information, visit our website: http://www.petrobras.com.br/ri/english

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