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This excerpt taken from the PBR 20-F filed May 22, 2009. Item 16G. Corporate
Governance
Comparison
of Petrobras’ Corporate Governance Practices with NYSE
Corporate Governance Requirements Applicable to U.S.
Companies
Under the rules of the New York Stock Exchange, foreign private
issuers are subject to a more limited set of corporate
governance requirements than U.S. domestic issuers. As a
foreign private issuer, we must comply with four principal NYSE
corporate governance rules: (i) we must satisfy the
requirements of Exchange Act
Rule 10A-3;
(ii) our Chief Executive Officer must promptly notify the
NYSE in writing after any executive officer becomes aware of any
material non-compliance with the applicable NYSE corporate
governance rules; (iii) we must provide the NYSE with
annual and interim written affirmations as required under the
NYSE corporate governance rules; and (iv) we must provide a
brief description of any significant differences between its
corporate governance practices and those followed by
U.S. companies under NYSE listing standards.
148
Table of Contents
The table below briefly describes
the significant differences between our domestic practices and
the NYSE corporate governance rules.
Table of Contents
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