Brazil: Petrobras Clarifies the News about Galp

Petrobras clarifies the news published by the press regarding a potential acquisition of the stakes held by ENI S.p.A. (ENI) in Galp Energia (Galp).

The Company states that it is constantly analyzing investment opportunities in Brazil and abroad that are aligned with the strategies set forth in its Business Plan. Petrobras confirms that it is considering a possible business deal with ENI, but up to now no conclusion was drawn and there are no binding obligations between the parts.

[mappress]

Source:Petrobras, January 5, 2011;