Company Profile For Petroleo Brasileiro S.A. - Petrobras

Petroleo Brasileiro SA-Petrobras is an integrated oil and gas company. During the year ended December 31, 2008, the Company’s average domestic daily hydrocarbons production was 2,176 thousand barrels of oil equivalent per day (mboe/d). Approximately 84% of its proved reserves are in fields in the offshore Campos Basin. The Company operates the refining capacity in Brazil. The Company’s domestic refining capacity is 1,942 thousand barrels per day (mbbl/d). Its domestic refining production is 1,787 mbbl/d and sales of oil products to domestic markets is 1,748 mbbl/d. The Company is also involved in the production of petrochemicals and fertilizers. The Company distributes oil products through its own BR network of retailers and to wholesalers. During 2008, it increased its stake in the Sierra Chata and Parva Negra blocks to 45.55% and 100%, respectively, and acquired a 13.72% stake in the El Tordillo and La Tapera-Puesto Quiroga blocks. In November 2009, it acquired Chevron Chile SAC.

BRIEF: For the six months ended 30 June 2009, Petroleo Brasileiro SA's revenue decreased 33% to $39.79B. Net income decreased 38% to $6.63B. Revenues reflects decreased income from Exploration & Production segment and lower income from Supply segment. Net income also reflects an increase in exploration expense, lower operating income, a fall in financial income, an increase in financial expense and the presence of other expenses, net.