Petrobras

Rio de Janeiro, February 25, 2010 – Petróleo Brasileiro S.A. – Petrobras announces its consolidated results of the fourth quarter of 2010 and its annual results, according to the international financial reporting standards (IFRS).

In 2010, the net income was R$ 35.2 billion (R$ 3.57 per share), 17% higher than the 2009 number of R$ 30.1 billion (R$ 3.43 per share). The gross profit reached R$ 77.22 billion in 2010, 4% higher to the last year result (R$ 74.13 billion).

The net income of the period from January to September 2010 (Jan-Sept/2010) reached R$ 24.58 billion, 10% higher than the Jan-Sept/2009 period, mainly due to higher sales volume, which increased 13%, and to an increase of oil prices.

Oil products demand in the domestic market (+13%) pushed the net income increase, highlighting the sales of diesel (+9%), gasoline (+17%), jet fuel (+19%) and natural gas (+33%). Additionally, the 2% increase of the oil and gas production and higher volume of the international sales (+10%) were favorable to the results.

In the segmented result, the increase in the oil price and in the production volume in 2010 influenced the result of the Exploration & Production (E&P) segment. However, the Supply segment presented a decrease in the result due to the increase in the oil price.