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PBR » Topics » June 30, 2005 and 2004 with Review Report of Independent Registered Public Accounting Firm

This excerpt taken from the PBR 6-K filed Aug 25, 2005.

June 30, 2005 and 2004
with Review Report of Independent Registered
Public Accounting Firm

PETRÓLEO BRASILEIRO S.A. – PETROBRAS AND SUBSIDIARIES

CONSOLIDATED FINANCIAL INFORMATION

June 30, 2005 and 2004

Contents

Review Report of Independent Registered Public Accounting Firm    1 
Consolidated Balance Sheets    2 
Consolidated Statements of Income    4 
Consolidated Statements of Cash Flows    6 
Consolidated Statements of Changes in Shareholders' Equity    7 
Notes to the Consolidated Financial Statements    10 
 
 
1.    Basis of Financial Statements Preparation    10 
2.    Derivative Instruments, Hedging and Risk Management Activities    11 
3.    Income Taxes    15 
4.    Inventories    15 
5.    Receivable from Federal Government    16 
6.    Financings    17 
7.    Financial Income (Expenses), Net    20 
8.    Project Financings    21 
9.    Capital Lease Obligations    23 
10.    Thermoelectric Liabilities    23 
11.    Employees’ Postretirement Benefits and Other Benefits    25 
12.    Shareholders’ Equity    25 
13.    Commitments and Contingencies    27 
14.    Segment Information    29 
15.    Subsequent Events    38 

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