Exhibit 8.1
List of subsidiaries of Petróleo Brasileiro S.A.—Petrobras
| Total | Voting | Country of | ||||||||||
| Subsidiary Companies | Capital | Capital | Incorporation | Activity | ||||||||
| Petrobras Química S.A.—Petroquisa and subsidiaries | 100.00 | 100.00 | Brazil | Petrochemical | ||||||||
| Petrobras Distribuidora S.A.—BR and subsidiaries | 100.00 | 100.00 | Brazil | Distribution | ||||||||
| Braspetro Oil Services Company—Brasoil and subsidiaries | 100.00 | 100.00 | Cayman Islands | International operations | ||||||||
| Braspetro Oil Company—BOC and subsidiaries(1) | 99.99 | 99.99 | Cayman Islands | International operations | ||||||||
| Petrobras Internacional Braspetro B.V.—PIBBV and subsidiaries | 100.00 | 100.00 | The Netherlands | International operations | ||||||||
| Petrobras Comercializadora de Energia Ltda.—PCEL | 99.00 | 99.00 | Brazil | Energy | ||||||||
| Petrobras Negócios Eletrônicos S.A.—e-Petro and subsidiary | 99.95 | 99.95 | Brazil | Corporate | ||||||||
| Petrobras Gás S.A.—Gaspetro and subsidiaries | 99.95 | 99.99 | Brazil | Gas transportation | ||||||||
| Petrobras International Finance Company—PifCo and subsidiaries | 100.00 | 100.00 | Cayman Islands | International Commercialization and Financing | ||||||||
| Petrobras Transporte S.A.—Transpetro and subsidiary | 100.00 | 100.00 | Brazil | Transportation | ||||||||
| Downstream Participações S.A. and subsidiary | 99.99 | 99.99 | Brazil | Refining and distribution | ||||||||
| Petrobras Netherlands BV—PNBV and subsidiaries | 100.00 | 100.00 | The Netherlands | Exploration and Production | ||||||||
| FAFEN Energia S.A. | 100.00 | 100.00 | Brazil | Energy | ||||||||
| 5283 Participações Ltda | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Fundo de Investimento Imobiliário RB Logística—FII | 99.00 | 99.00 | Brazil | Corporate | ||||||||
| Baixada Santista Energia Ltda | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Sociedade Fluminense de Energia Ltda.—SFE | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Termorio S.A. | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Termoceará Ltda. | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Termomacaé Ltda. | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Termomacaé Comercialização de Energia Ltda. | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Ternoaçu S.A. | 72.10 | 72.10 | Brazil | Energy | ||||||||
| Termobahia Ltda. | 31.00 | 31.00 | Brazil | Energy | ||||||||
| Ibiritermo S.A. | 50.00 | 50.00 | Brazil | Energy | ||||||||
| Usina Termelétrica de Juiz de Fora | 100.00 | 100.00 | Brazil | Energy | ||||||||
| Total | Voting | Country of | ||||||||||
| Special Purpose Entities Consolidated According to FIN 46(R)(*) | Capital | Capital | Incorporation | Activity | ||||||||
| Albacora Japan Petroleum Limited Company | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Barracuda e Caratinga Holding Company B.V. | 0.00 | 0.00 | Cayman Islands | Exploration and Production | ||||||||
| Companhia Petrolífera Marlim | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| NovaMarlim Petróleo S.A. | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Cayman Cabiunas Investments Co. Ltda. | 0.00 | 0.00 | Cayman Islands | Exploration and Production | ||||||||
| Companhia De Desenvolvimento e Modernização de Plantas Industriais—CDMPI | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Companhia Locadora de Equipamentos Petrolíferos S.A.—CLEP | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| PDET Offshore S.A. | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Companhia de Recuperação Secundária | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Nova Transportadora do Nordeste S.A. | 0.00 | 0.00 | Brazil | Transportation | ||||||||
| Nova Transportadora do Sudeste S.A. | 0.00 | 0.00 | Brazil | Transportation | ||||||||
| Gasene Participações Ltda. | 0.00 | 0.00 | Brazil | Transportation | ||||||||
| Manaus Geração Termelétrica Participações Ltda. | 0.00 | 0.00 | Brazil | Energy | ||||||||
| Blade Securities Limited | 0.00 | 0.00 | Brazil | Corporate | ||||||||
| Codajás Coari Participações Ltda. | 0.00 | 0.00 | Brazil | Transportation | ||||||||
| Charter Development—CDC | 0.00 | 0.00 | USA | Exploration and Production | ||||||||
| Companhia Mexilhão do Brasil | 0.00 | 0.00 | Brazil | Exploration and Production | ||||||||
| Fundo de Investimento em Direitos Creditórios Não-padronizados do Sistema Petrobras—FIDC-NP (2) | 0.00 | 0.00 | Brazil | Corporate | ||||||||
| (1) | Braspetro Oil Company (BOC) exercised its option to purchase all the shares of EVM Leasing Co on June 18, 2007 (See Note 14 of our audited consolidated financial statements for the year ended December 31, 2007). EVM Leasing Co. has been consolidated according to ARB 51, commencing June 2007. Consolidated according to FIN 46(R), commencing December 31, 2003 until May 2007. | |
| (2) | At December 31, 2007, the Company had amounts invested in the Petrobras Group’s Non-Standardized Credit Rights Investment Fund (FIDC-NP). This investment fund is predominantly intended for acquiring credit rights, performed and/or non-performed, of operations carried out by companies in the Petrobras System, and aims to optimize the financial management of the funds of the Company. | |
| (*) | Termétrica Nova Piratininga Ltda. is not included in the audited consolidated financial statements as of December 31, 2007, due to the dissolution of the Piratininga Consortium. |
List of subsidiaries of Petrobras International Finance Company
| Total | Voting | Country of | ||||||||||
| Subsidiary Companies | Capital | Capital | Incorporation | Activity | ||||||||
| Petrobras Europe Limited—PEL | 100.00 | 100.00 | United Kingdom | Trading Agent and Marketing Advisor | ||||||||
| Petrobras Finance Limited—PFL | 100.00 | 100.00 | Cayman Islands | International Commercialization | ||||||||
| BEAR Insurance Company Limited | 100.00 | 100.00 | Bermuda | Insurance | ||||||||
| Petrobras Singapore Private Limited | 100.00 | 100.00 | Singapore | International Commercialization | ||||||||