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This excerpt taken from the PBR 20-F filed May 22, 2009. Changes
in the Petroleum and Alcohol account
The
following summarizes the changes in the Petroleum and Alcohol
account for the years ended December 31, 2008 and 2007:
The
Petroleum and Alcohol account arose in periods previous to
December 31, 2002 as a result of regulation in the fuels
market. The Federal Government has certified the balance and
placed a portion of the amount (US$53) in a restricted use
account.
In order to
conclude the settlement of accounts with the Federal Government,
pursuant to Provisional Measure
no 2.181,
of August 24, 2001, and after providing all the information
required by the National Treasury Office - STN, Petrobras
is seeking to settle all the remaining disputes between the
parties.
The
remaining balance of the Petroleum and Alcohol account may be
paid as follows: (1) National Treasury Bonds issued at the
same amount as the final balance of the Petroleum and Alcohol
account; (2) offset of the balance of the Petroleum and
Alcohol account, with any other amount owed by Petrobras to the
Federal Government, including taxes; or (3) by a
combination of the above options.
The
Company’s short-term borrowings are principally sourced
from commercial banks and include import and export financing
denominated in United States dollars, as follows:
Table of Contents
PETRÓLEO
BRASILEIRO S.A. - PETROBRAS AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) Expressed in Millions of United States Dollars (except when specifically indicated)
This excerpt taken from the PBR 6-K filed Mar 18, 2008. Changes in the Petroleum and Alcohol account The following summarizes the changes in the Petroleum and Alcohol account for the years ended December 31, 2007 and 2006:
The Petroleum and Alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The Federal Government has certified the balance and placed a portion of the amount (US$53) in a restricted use account. In order to conclude the settlement of accounts with the Federal Goverment, pursuant to Provisional Measure nº 2.181, of August 24, 2001, and after providing all the information required by the National Treasury Office - STN, Petrobras is seeking to settle all the remaining disputes between the parties. The remaining balance of the Petroleum and Alcohol account may be paid as follows: (1) National Treasury Bonds issued at the same amount as the final balance of the Petroleum and Alcohol account; (2) offset of the balance of the Petroleum and Alcohol account, with any other amount owed by Petrobras to the Federal Government, including taxes; or (3) by a combination of the above options. This excerpt taken from the PBR 6-K filed Apr 10, 2007. (a) Changes in the Petroleum and Alcohol account The following summarizes the changes in the Petroleum and Alcohol account for the years ended December 31, 2006 and 2005:
The Petroleum and Alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The Federal Government has certified the balance and placed a portion of the amount (US$53) in a restricted use account. This excerpt taken from the PBR 6-K filed Nov 28, 2006. a) Changes in the Petroleum and alcohol account The following summarizes the changes in the Petroleum and alcohol account for the nine-month period ended September 30, 2006:
The Petroleum and alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The Federal Government has certified the balance and placed a portion of the amount (US$53) in a restricted use account. This excerpt taken from the PBR 6-K filed Sep 6, 2006. a) Changes in the Petroleum and alcohol account The following summarizes the changes in the Petroleum and alcohol account for the six-month period ended June 30, 2006:
The Petroleum and alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The Federal Government has certified the balance and placed a portion of the amount (US$53) in a restricted use account. This excerpt taken from the PBR 6-K filed Jun 28, 2006. a) Changes in the Petroleum and alcohol account The following summarizes the changes in the Petroleum and alcohol account for the three-month period ended March 31, 2006:
The Petroleum and alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The Federal Government has certified the balance and placed a portion of the amount (US$ 53) in a restricted use account. This excerpt taken from the PBR 6-K filed Mar 21, 2006. (a) Changes in the Petroleum and Alcohol account The following summarizes the changes in the Petroleum and Alcohol account for the years ended December 31, 2005 and 2004:
The Petroleum and Alcohol account arose in periods previous to December 31, 2002 as a result of regulation in the fuels market. The federal government has certified the balance and placed a portion of the amount (US$ 53) in a restricted use account. | EXCERPTS ON THIS PAGE:
RELATED TOPICS for PBR:
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