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This excerpt taken from the PBR 6-K filed Nov 19, 2009. 5 Related parties Petrobras carries out commercial transactions with its subsidiaries and special purpose entities under normal market prices and conditions. The transactions for the purchase of oil and oil products carried out by Petrobras with its subsidiary PifCo have longer settlement terms due to the fact that PifCo is a subsidiary created for this purpose, with the levying of the due charges in the period. The passing on of prepayments for exports is carried out at the same rates as those obtained by the subsidiary. Intercompany loans are made in accordance with market conditions and applicable legislation. At September 30 and June 30, 2009, losses are not expected on the realization of these accounts receivable. This excerpt taken from the PBR 6-K filed Aug 18, 2009. 5 Related parties Petrobras carries out commercial transactions with its subsidiaries and special purpose entities under normal market conditions. The transactions for the purchase of oil and oil products carried out by Petrobras with its subsidiary PifCo have longer settlement terms due to the fact that PifCo is a subsidiary created for this purpose, with the levying of the due charges in the period. The passing on of prepayments for exports and the raising of capital on the international market are carried out at the same rates as those obtained by the subsidiary. The intercompany loans are established based on normal market conditions and in accordance with specific legislation. At June 30, 2009 and March 31, 2009, losses are not expected on the realization of these accounts receivable. This excerpt taken from the PBR 6-K filed Jun 8, 2009. 5 Related parties Petrobras carries out commercial transactions with its subsidiaries and special purpose entities under normal market conditions. The transactions for the purchase of oil and oil products carried out by Petrobras with its subsidiary PifCo have longer settlement terms due to the fact that this is one of the main activities for which PifCo was created. The passing on of prepayments for exports and the raising of capital on the international market are carried out at the same rates as those obtained by the subsidiary. The earnings and/or charges in connection with other transactions, especially intercompany loans, are established based on normal market conditions and/or in accordance with specific legislation. The allowance for doubtful accounts is recorded, when applicable, based on an analysis of the amounts receivable and in an amount considered sufficient to cover probable losses on the realization of the accounts receivable. At March 31, 2009 and December 31, 2008, losses are not expected on the realization of these accounts receivable. This excerpt taken from the PBR 6-K filed Mar 4, 2008. 6 Related parties Petrobras carries out commercial transactions with its subsidiaries, affiliated companies and special purpose companies on prices and normal market terms. The transactions for purchase of oil and oil products from the subsidiary PifCo carried out by Petrobras feature longer term for settlement, since PifCo is a subsidiary created for this purpose, considering the levy of the related changes in the period. The amounts related to export prepayments and international market funding are made at the same rate obtained by the subsidiary. The value, income and/or charges in connection with other transactions, especially intercompany loans, are established at arm’s length and/or in accordance with applicable legislation. This excerpt taken from the PBR 6-K filed Nov 21, 2007. 4. RELATED PARTIES Petrobras carries out commercial transactions with its subsidiaries, affiliated companies and special purpose companies on normal market terms. The transactions for purchase of oil and oil products from the subsidiary PifCo carried out by Petrobras feature longer term for settlement, since PifCo is a subsidiary created for this purpose, considering the levy of the related changes in the period. The amounted related to export prepayments and international market funding are made at the same rate obtained by the subsidiary. The value, income and charges in connection with other transactions, especially intercompany loans, are established at arm’s length and/or in accordance with applicable legislation. This excerpt taken from the PBR 6-K filed Aug 21, 2007. 4. RELATED PARTIES Petrobras carries out commercial transactions with its subsidiaries, affiliated companies and special purpose companies on normal market terms. The transactions for purchase of oil and oil products from the subsidiary PifCo carried out by Petrobras feature longer term for settlement, since PifCo is a subsidiary created for this purpose, considering the levy of the related charges in the period. The amounted related to prepayment export and international market funding are made at the same rate obtained by the subsidiary. The value, income and charges in connection with other transactions, especially intercompany loans, are established at arm’s length and/or in accordance with applicable legislation. This excerpt taken from the PBR 6-K filed Jun 8, 2007. 4. RELATED PARTIES Petrobras carries out commercial transactions with its subsidiary, affiliated companies and special purpose entities on normal market terms. The transactions for purchase of oil and oil products from the subsidiary PifCo carried out by Petrobras feature longer term for settlement, since PifCo is a subsidiary created for this purpose, considering the levy of the related changes in the period. The amounted related to prepayment export and international market funding are made at the same rate obtained by the subsidiaries. The value, income and charges in connection with other transactions, especially intercompany loans, are established at arm`s length and/or in accordance with applicable legislation. This excerpt taken from the PBR 6-K filed Nov 17, 2006. 4. RELATED PARTIES The commercial operations of PETROBRAS with its subsidiaries are governed by normal market prices and conditions. The purchases of oil and oil products made by PETROBRAS from its subsidiary PIFCo have a longer term, since PIFCo is a subsidiary that was created for this purpose. The interest accumulated during the period is charged. The advance payment of exports and funds raised on the international market are made at the same rates obtained by the subsidiary. The rates, return and charges for other operations, mainly loan transactions, are established according to the same market conditions and/or in accordance with the specific legislation governing such transactions. This excerpt taken from the PBR 6-K filed Aug 25, 2006. 4) RELATED PARTIES The commercial operations of Petrobras with its subsidiaries are governed by normal market prices and conditions. The purchases of oil and oil products made by Petrobras from its subsidiary PIFCo have a longer term, since PIFCo is a subsidiary was created for this purpose, the interest accumulated during the period is charged. The advance payment of exports and funds raised on the international market are made at the same rates obtained by the subsidiary. The rates, return and charges for other operations, mainly loan transactions, are established according to the same market conditions and/or in accordance with the specific legislation governing such transactions. This excerpt taken from the PBR 6-K filed Jun 26, 2006. 4) Related parties PETROBRAS carries out transactions with its subsidiary and associated companies on normal market terms. The transactions for purchase of petroleum and petroleum byproducts from the subsidiary PIFCO carried out by PETROBRAS feature longer term for settlement, since PIFCO is a subsidiary created for this purpose. The value, income and charges in connection with other transactions, especially intercompany loans, are established at arms’ length and/or in accordance with applicable legislation. 12 | EXCERPTS ON THIS PAGE:
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