This excerpt taken from the PBR 6-K filed Mar 4, 2008.
12.2 Description of subsidiaries activities
a) Petrobras Química S.A. - Petroquisa
Petroquisa participates in companies whose activities include the manufacture, sale, distribution, transport, import and export of chemical and petrochemical products, and renders technical and administrative services related to those activities.
b) Petrobras Distribuidora S.A. - BR Distribuidora
BR operates in the areas of distribution, sale and industrialization of oil products, oil product derivatives, alcohol, energy and other fuels.
c) Petrobras Gás S.A. - Gaspetro
Gaspetro participates in companies that operate in transportation of natural gas, in transmission of data, voice and image signals through cable and radio telecommunication systems, and in rendering technical services relating to these activities. GASPETRO also has the joint control over several state-owned gas distribution companies, which are consolidated in proportion to Petrobras interest in total capital.
d) Petrobras Transporte S.A. - Transpetro
Transpetro carries out, directly or through subsidiaries, the transport and storage of bulk, oil and oil products and gas, using pipelines, terminals and vessels owned by Transpetro or by third parties.
e) Downstream Participações Ltda.
Downstream participates, directly and indirectly, in companies operating in various sectors of the oil industry.
f) Petrobras International Finance Company - PifCo
PifCo is involved in the commercialization of oil and oil products abroad, acting as an intermediary in the purchase and sale of oil, oil products and materials for companies in the Petrobras System, as well as raising funds abroad.