Petrobras (PBR)

14.12 Raising of funds for the international segment

In the first semester of 2009, the subsidiaries of Petrobras abroad raised funds in the amount equivalent to R$ 4.385.775 thousand, basically to finance working capital and projects associated with activities for exploration and production of oil and gas.

The most significant funds were raised by the following companies, indirect subsidiaries of Petrobras:

Nansei Sekiyu K.K Refinery – It raised funds in the total amount of US$ 1.541.692 thousand, equivalent to R$ 3.081.946 thousand, where R$ 207.307 thousand is long-term, through Development Bank Japan, with average maturity of 365 days and an average rate of 0.1% p.a.; and R$ 2.874.639 thousand is a short-term, through the banks Mizuo Bank Corp, Sumitomo Mitsui Bank Corp, MTBUFJ, Ryukyu and JOGMEC, with rates between Libor + 2% p.a. and expenses of 0,66% to 2,66% p.a., basically to finance the company’s working capital.

Petrobras Energia S.A. – It raised short-term funding in the amount of US$ 297.492 thousand, equivalent to R$ 647.045 thousand, through Banco HSBC, Itaú, BBVA, Banco Rio, Banco Ciudad, ABN Amro Bank, Banco do Brasil and Banco Santander, mainly through advances on foreing exchange contracts (ACC) and advances on export contracts (ACE), aiming at maintaining the company’s working capital and replacing inventories. The loans have final maturity in 2010 at an average interest rate between 6% p.a. and 8% p.a. in US dollars and between 20% p.a. and 28% p.a. in Argentine pesos.

14.10 Raising of funds for the international segment

In the first quarter of 2009 the subsidiaries of Petrobras abroad raised funds in the amount of US$ 278.146 thousand, equivalent to R$ 645.440 thousand, basically to finance working capital and projects associated with exploration and production of oil and gas

The most significant funds were raised by the following companies, indirect subsidiaries of Petrobras:

Refinery Nansei Sekiyu K.K. - It raised short-term funds in the total amount of US$ 100.628 thousand, equivalent to R$ 232.743 thousand, in March 2009, through Development Bank Japan, with average maturity of the 360 days at an average rate of 2,66% p.a., basically to finance the company's working capital.

Petrobras Energia S.A. - It raised long-term funding in the amount of US$ 154.819 thousand, equivalent to R$ 358.406 thousand, through Banco HSBC, Itaú, BBVA and Banco Santander, mainly through advances on export contracts (ACC) and exchange contracts (ACE), aiming at maintaining the company's working capital and replacing inventories. The long-term loans have final maturity in 2010 and an average interest rate between 6% p.a. and 10% p.a.

Cia Mega raised short-term funds in the amount of US$ 12.133 thousand corresponding to R$ 28.109 thousand through the banks Itaú, Santander Rio, Citibank and BBVA, at an average rate ranging between 5,50% and 8,50% and an average term of 180 days for the purpose of financing the company's working capital.

Raising of funds for the international segment

In the period from January to March 2009, the subsidiaries of Petrobras abroad raised funds in the amount equivalent to US$278, basically to finance working capital and projects associated with the activities of exploration and production of oil and gas.

The most significant funds were raised by the following companies, indirect subsidiaries of Petrobras:

Refinaria Nansei Sekiyu K.K. – It raised short-term funding in the total amount of US$101, in March 2009, through Development Bank Japan, with average maturity of 360 days, at an average rate of 2.66% p.a., basically to finance the company’s working capital;

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10. Financings (Continued)

b) Long-term debt (Continued)

Raising of funds for the international segment (Continued)

Petrobras Energia S.A. - It raised short-term funding in the amount of US$155, through Banco HSBC, Itaú, BBVA, and Banco Santander, mainly through advances on export contracts (ACC) and exchange contracts (ACE), aiming at maintaining the company’s working capital and replacing inventories. The operations have final maturity in 2010 and an average interest rate between 6% p.a. and 10% p.a.

Cia Mega - It raised short-term funding in the amount of US$12, through Banco Itaú, Santander Rio, Citibank and BBVA, at an average interest rate between 5.5% p.a. and 8.5% p.a., with average maturity of 180 days, aiming at maintaining the company’s working capital.

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16.13 Raising of funds for the international segment

In fiscal year 2008 the subsidiaries of Petrobras abroad raised funds in the amount equivalent to R$ 2.760.135, basically to finance working capital and projects associated with the activities of exploration and production of oil and gas.

The most significant funds were raised by the following companies, indirect subsidiaries of Petrobras:

Refinaria Nansei Sekiyu K.K. – It raised short-term funding in the total amount of US$ 471.875 equivalent to R$ 1.051.280, through Sumitomo Mitsui Bank, Mizuho Bank, Bank Tokyo of Mitsubishi and Development Bank Japan, with average maturity of 320 days at an average rate of 1,09% p.a. + spread from 0,5% p.a. to 1,0% p.a. and long-term funding in the amount of US$ 6.952 thousand, equivalent to R$ 16.247, basically to finance the company’s working capital;

Petrobras Energia S.A. – It raised long-term funding in the amount of US$ 44.457 thousand, equivalent to R$ 75.200, and short-term funding in the amount of US$ 353.042 thousand, equivalent to R$ 698.439, through Banco HSBC, Banco Rio, Itaú, BBVA, Banco Ciudad, ABN Amro Bank, Banco do Brasil and Banco Santander, mainly through advances on export contracts (ACC) and exchange contracts (ACE), aiming at maintaining the company’s working capital and replacing inventories. The long-term operations have final maturity in 2015 and an average interest rate between 6% p.a. and 10% p.a.

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P&M Drilling raised long-term funding through Sumitomo Mitsui Banking, in the amount of US$ 97.818 thousand, equivalent to R$ 180.981, with maturity in 2010. The interest rates range from 3,625% p.a. to 3,9375% p.a. Its purpose is to finance the building of the sonar ship PETROBRAS 10000.

(k) Raising of funds for the international segment

In fiscal year 2008 the subsidiaries of Petrobras abroad raised funds in the amount equivalent to US$1,181, basically to finance working capital and projects associated with the activities of exploration and production of oil and gas.

The most significant funds were raised by the following companies, indirect subsidiaries of Petrobras:

Refinaria Nansei Sekiyu K.K. – It raised short-term funding in the total amount of US$472, through Sumitomo Mitsui Bank, Mizuho Bank, Bank Tokyo of Mitsubishi and Development Bank Japan, with average maturity of 320 days at an average rate of 1.09% p.a. + spread from 0.5% p.a. to 1.0% p.a. and long-term funding in the amount of US$7, basically to finance the company’s working capital;

Petrobras Energia S.A. – It raised long-term funding in the amount of US$44, and short-term funding in the amount of US$353, through Banco HSBC, Banco Rio, Itaú, BBVA, Banco Ciudad, ABN Amro Bank, Banco do Brasil and Banco Santander, mainly through advances on export contracts (ACC) and exchange contracts (ACE), aiming at maintaining the company’s working capital and replacing inventories. The long-term operations have final maturity in 2015 and an average interest rate between 6% p.a. and 10% p.a. was made available.

P&M Drilling raised long-term funding through Sumitomo Mitsui Banking, in the amount of US$98, with maturity in 2010. The interest rates range from 3.625% p.a. to 3.9375% p.a. Its purpose is to finance the building of the sonar ship PETROBRAS 10000.

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