"8º Foro Latibex - Petrobras Overview – Petroleum, Gas and Petrochemical”

1. 1
PETROBRAS
PETROBRAS OVERVIEW
November 15, 2006
Petroleum, Gas and Petrochemical
Latibex
AlmirBarbassa
CFO and Investor Relations Officer

2. 2
PETROBRAS
The presentation may contain forecasts about future events. Such forecasts
merely reflect the expectations of the Company's management. Such terms
as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project",
"seek", "should", along with similar or analogous expressions, are used to
identify such forecasts. These predictions evidently involve risks and
uncertainties, whether foreseen or not by the Company. Therefore, the future
results of operations may differ from current expectations, and readers must
not base their expectations exclusively on the information presented herein.
The Company is not obliged to update the presentation/such forecasts in
light of new information or future developments.
Cautionary Statement for US investors
The United States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only proved reserves that
a company has demonstrated by actual production or conclusive formation
tests to be economically and legally producible under existing economic and
operating conditions. We use certain terms in this presentation, such as oil
and gas resources, that the SEC’s guidelines strictly prohibit us from
including in filings with the SEC.

3. 3
PETROBRAS
Energy
Industry
Imported Oil
Products
Imported
Oil
Imported Gas
International Oil
Production
LNG
H - Bio
Domestic
Natural Gas
Production
Biodiesel
Oil Products
sold in Brazil
International
Sales
Other
Renewables
Infrastructure
Petrochemical
Plants
Brazilian Oil
Production
Throughput
in Brazil
International
Refining
Integration of the Company's Activities
Ethanol

4. 4
PETROBRAS
Vertical Integration Comparison
Majors Average *
2,735
3,176
4,793
4,329
1,630
1,579
National Oil Companies Average **
Petrobras
2,296
2,114
Product Sales (thous. bpd)
Refining (thous. bpd)
Production (thous. boed)
* Majors: BP, Exxon, Total, Royal Dutch Shell, Chevron, Conoco and Repsol-YPF
** NOC: PEMEX
,
PDVSA
,
Saudi Amraco
,
KPC
,
Pertamina and Sonatrach
*** 2004 figures, except for Petrobras (2005)
Source: PIW Intelli
g
ence and Petrobras
2,217
3,400
Year 2011
2011
:
New Refinery will add 200
thous. bpd capacity
2010
:
Pasadena Refinery revamp
concluded – processing 70
thous. bpd of heavy oil

5. 5
PETROBRAS
Investment Plan
Note: Includes International
31.0
12.4
1.0
1.0
49.3
23.0
7.5
3.3
2.3
1.8
E&P
Downstream
G&E
Petrochemical
Distribution
Corporate
9%
4%
3%26%
56%
3%
Business Plan 2007-2011
US$ 87.1 billion
86%
14%
Brazil
International
US$ 12.1 bi
US$ 75.0 bi
49.3
23.0
7.5 3.3 2.2
1.8

6. PETROBRAS
6
•P-50 is currently producing 164,000 bpd and should reach its production peak by the end of the year.
•FPSO Capixaba is producing 35,000 bpd and should reach its full capacity in 2007.
•P-34 is being tested on the ocean and its start-up is scheduled to November.
•The start-up of FPSO Rio de Janeiro was anticipated form 2007 to December 2006.
In 2006, two platforms, P-50 and FPSO Capixaba, have started operating. Until the
end of the year, other two platforms will start-up operation, adding a production
capacity of 440 thousand bpd to the country.
Albacora Leste
Capacity 180,000 bpd
April 2006
P-50
Golfinho Mod. 1
Capacity 100,000 bpd
May 2006
FPSO Capixaba
Jubarte Phase 1
Capacity 60,000 bpd
November 2006
P-34
Espadarte Mod. II
Cap.: 100,000 bpd
December 2006
FPSO Cidade do
Rio de Janeiro
Main Projects contributing to the production growth in 2006

7. PETROBRAS
7
1.979
2.061
2.195
2.368
2.374
1.400
1.600
1.800
2.000
2.200
2.400
2.600
2007 2008 2009 2010 2011
Parque
das Conchas
100,000 bpd
2011
Parque
das Conchas
100,000 bpd
2011
Marlim Leste
P-53
180,000 bpd
2009
Marlim Leste
P-53
180,000 bpd
2009
Frade
100,000 bpd
2009
Frade
100,000 bpd
2009
Roncador
P-52
180,000 bpd
Dec/2007
Roncador
P-52
180,000 bpd
Dec/2007
Roncador
P-54
180,000 bpd
Oct/2007
Roncador
P-54
180,000 bpd
Oct/2007
Marlim Sul
Module 2
P-51
180,000 bpd
2008
Marlim Sul
Module 2
P-51
180,000 bpd
2008
Piranema
20,000 bpd
Apr/2007
Piranema
20,000 bpd
Apr/2007
Jubarte
Phase 2
P-57
180,000 bpd
2010
Jubarte
Phase 2
P-57
180,000 bpd
2010
ESS-130
Golfinho Mód. 3
(FPSO)
100,000 bpd
2008
ESS-130
Golfinho Mód. 3
(FPSO)
100,000 bpd
2008
Cidade de Vitória
Golfinho Mod. 2
100,000 bpd
May/2007
Cidade de Vitória
Golfinho Mod. 2
100,000 bpd
May/2007
Roncador
P-55
180,000 bpd
2011
Roncador
P-55
180,000 bpd
2011
Thousand bpd
Main Oil and NGL E&P Projects in Brazil –2007-2011
Additional
Capacity
(bpd)
280,000 180,000 280,000 280,000 480,000
2011
2010
2009
2008
2007

8. 8
PETROBRAS
Natural gas domestic supply
70
70.6
65.2
49.4
34.1
27.5
0
10
20
30
40
50
60
70
80
2006 2007 2008 2009 2010 2011
Albacora
Leste
(P-50)
2006
Golfinho Mod 1
2006
Jubarte
(P-34)
2006
Manati
2006
Piranema
2006
Urucu
Natural gas
sales
2007
Golfinho
Mod 2
2007
Roncador
(P-54)
2007
Peroá-
Cangoa
Phase 2
2007
Roncador
(P-52)
2007
Cavalo
Marinho
2010
Marlim Leste
(P-53)
2009
Mexilhão
2009
Marlim Sul
Mod 2
(P-51)
2008
Frade
2009
Roncador
(P-55)
2011
Jubarte Fase 2
(P-57)
2010
SPS25
2009
Albacora
Complemental
2007
NG associated
NG non associated
Peroá-
Cangoa
Phase 1
2006
Espadarte
Mod. 2
2007
ESS164
2008
Canapu
2008
ESS130
2008
Tambaú/Uruguá
2010
RJS633
2010
Parque das
Conchas
2011
Million m
3
/day

9. 9
PETROBRAS
•Production will raise from the current 15.8
million to 40 million m
3
per day in 2008 in
the Southeast.
•Development of two new oil and gas
fields in Espírito Santo;
•Increase of natural gas supply from
the Marlim field (Campos Basin);
•Expansion of gas production in the
Merluza field (Santos Basin).
•Demand Flexibilization
•Refineries, Distributors and flex-fuel
thermoelectric plants ( LNG, diesel
and alcohol)
New investments will reduce the country’s dependence on imported gas.
Natural Gas supply extension in Southeast 2006 -2008

10. 10
PETROBRAS
PLANGÁS –Dec. 2008
ESSESS--164164
ESSESS--130130
Mexilhão MexilhãoUruguá Uruguá
Tambaú Tambaú
Golfinho + Golfinho + Canapu Canapu
Peroá Peroá(10 MM m3/d) (10 MM m3/d)
Merluza Merluza
PqPq. . Baleias Baleias+ +
BC10 BC10
Vitória
Namorado Namorado
Plataformas Plataformasdada
UNUN--BC e UN BC e UN--RIORIO
REDUC REDUC
Cabiúnas Cabiúnas
Campinas Campinas
RPBC
Garoupa Garoupa
Enchova Enchova
Pampo Pampo
Ubu
Merluza Merluza--IIII
(BM(BM--SS--3/ BM 3/ BM--SS--7, 7,
SPSSPS--25)25)
Lagosta Lagosta
Belo Horizonte Belo Horizonte
Caraguatatuba Caraguatatuba
Rio de Janeiro Rio de Janeiro
Total Southeast: 40 MM m3/d (+ 24,2 MM m3/d)
(*) Schedules under evaluation
Cacimbas Cacimbas(20 MM m3/d) (20 MM m3/d)
Lagoa parda
+6,4 MM m3/d (*) +6,4 MM m3/d (*)
(*) Additional to the current supply
Pólo PóloGolfinho Golfinho
+16,3 MM m3/d (*) +16,3 MM m3/d (*)
+1,5 MM m3/d (*) +1,5 MM m3/d (*)
•Development of new fields in Espírito Santos field
(1-ESS-164 and 1-ESS-130)
•Increase in Marlim supply (Campos Basin)
•Merluza production expansion (Santos Basin)

11. 11
PETROBRAS
26%
31%
19%
24%
Refining Pipelines & Terminals Transport Ship Transport Petrochemical
13%
1
2%
14%
61%
US$ 23.1 billion in the downstream
segment…
US$ 14.2
US$ 3.2
US$3.0
US$2.8
...of which US$ 14.2 billion in refining
Investment Plan –Downstream
US$ 2.7
US$ 4.4US$ 3.7
Expansion Product Quality Conversion HSE, Maintenance and Other
US$ 3.4

12. 12
PETROBRAS
New Refinery in Pernambuco
•Investment: US$ 2.5 billion;
•Throughput capacity: 200 thousand heavy oil barrels (50%
Petrobras oil / 50% PDVSA oil);
•Focusing diesel and LPG production maximization, the new
refinery will aim the growth of oil products demand in the
Northeast.
•The Northeast Region, which responds for 19% of oil products demand and holds only one refinery
in Bahia, will no longer be a fuel importer (e ither from refineries in Brazil or abroad);
•Costs reduction: oil products transportation are more expensive than for crude oil.
Additional refining capacity
New Refinery in the USA
•Petrobras has acquired 50% of the Passadena Refinery System
Inc. (PRSI), located in Texas, USA;
•Total Investment: US$ 370 million;
•The refinery, which already has a capacity of 100,000 bbl/day, will
be upgraded to handle 70,000 bbl/day of heavy oil and feedstock
(including Marlim field’s production);
•The upgraded refinery will be ready in four years. After the revamp project all products will match
USA highest standards.

13. 13
PETROBRAS Nitrogenated Fertilizers Unit III
PTA Pernambuco
Fafen BA
Acrylic Complex /SAP
Rio de Janeiro Petrochemical
Complex
Main Projects
Basic Petrochemical Unit:
- 150,000 bbl/d of Marlim Oil;
- Products: Diesel, LPG, Ethylene,
Propylene, PX, Benzene and Coke.
Petrochemical Integrated Complex:
- Polypropylene;
- Polyethylene;
- PTA;
- Ethylene glycol;
- PET;
- Styrene;
- Phenol.
Downstream Investments -Petrochemical investments
•Investments of US$ 3.3 billion in Petrochemicals;
•Reducing the Brazilian deficit and adding value to
Downstream production.