Petrobras: No Negotiation in Progress for Stake in Galp

Petrobras is clarifing the news published by the Brazilian and international press regarding the potential acquisition of the stakes held by ENI S.p.A. in Galp Energia; possible partnerships with Galp Energia in the exploration segment; and contracts for oil products distribution in Europe.

The Company clarifies that it is always analyzing investment opportunities in Brazil and abroad that are aligned to the strategies set forth in its Business Plan, but that in this case there is no negotiation in progress.

Additionally, the Company confirms the procedure it has in place of revising its Business Plan annually, excluding the year ended and adding an additional period. The Plan for 2010-2014 period is currently under analysis; however, at the present time no change has been made to the goals nor to the project portfolio of the current Plan (2009-2013).