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This excerpt taken from the PBR 20-F filed May 22, 2009. Plaintiff:
State Revenue Service of Alagoas
Alagoas
state finance authorities filed a Tax Assessment against the
Company in connection with alleged issue of invoices for
transfer on unprocessed natural gas (called “rich gas”
by State Revenue Service of Alagoas) to the state of Sergipe at
lower than market prices between 2000 and 2004. The lower court
ruled the charge was correct. Petrobras filed a Voluntary which
is awaiting judgment. The maximum exposure including monetary
restatement for Petrobras as at December 31, 2008, is
US$47. Based on its legal counsels’ advice, the Company has
assessed risk of loss to be possible.
This excerpt taken from the PBR 6-K filed Mar 30, 2009. Plaintiff: State Revenue Service of Alagoas Alagoas state finance authorities filed a Tax Assessment against the Company in connection with alleged issue of invoices for transfer on unprocessed natural gas (called “rich gas” by State Revenue Service of Alagoas) to the state of Sergipe at lower than market prices between 2000 and 2004. The lower court ruled the charge was correct. Petrobras filed a Voluntary which is awaiting judgment. The maximum exposure including monetary restatement for Petrobras as at December 31, 2008, is US$47. Based on its legal counsels’ advice, the Company has assessed risk of loss to be possible. This excerpt taken from the PBR 6-K filed Mar 18, 2008. Plaintiff: State Revenue Service of Alagoas Alagoas state finance authorities filed a Tax Assessment against the Company in connection with alleged issue of invoices for transfer on unprocessed natural gas (called “rich gas” by State Revenue Service of Alagoas) to the state of Sergipe at lower than market prices between 2000 and 2004. The lower court ruled the charge was correct. Petrobras filed a Voluntary Appeal which is awaiting judgment. The maximum exposure including monetary restatement for Petrobras as at December 31, 2007, is US$140. Based on its legal counsels’ advice, the Company has assessed risk of loss to be possible. | EXCERPTS ON THIS PAGE:
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