Pursuant to Rule 13a-16 or 15d-16 of the
20031-912 - Rio de Janeiro, RJ
Federative Republic of Brazil
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
This report on Form 6-K is incorporated by reference in the Registration
Statement on Form F-3 of Petróleo Brasileiro -- Petrobras (No. 333-163665).
Partnership for an integrated ethanol distribution system
Rio de Janeiro, November 12 2010 – Petróleo Brasileiro S.A. – Petrobras informs the approval of the execution of a Term of Commitment of Partnership with Camargo Correa Óleo e Gás S.A., (Camargo Corrêa); Copersucar S.A. (Copersucar); Cosan S.A. Indústria e Comércio (Cosan); Odebrecht Transport Participações S.A. (OTP); Uniduto Logística S.A., (Uniduto), seeking to establish a partnership and to incorporate a private company, (Company) with its partner, to develop, build, and operate a multimodal logistics system to transport and store ethanol.
The agreement is the outcome of joint preliminary studies carried out by PMCC Soluções Logísticas de Etanol S.A. (of which Petrobras and Camargo Correa are shareholders), Uniduto, and OTP, aiming to implement a single ethanol transportation and storage project.
Initially, the Company's joint stock capital will be R$100,000,000.00 (one hundred million Reais), formed exclusively of nominative ordinary shares of no par value to be divided as follows: Copersucar: 20% (twenty percent), Cosan: 20% (twenty percent), OTP: 20% (twenty percent) Petrobras: 20% (twenty percent), Camargo Correa: 10% (ten percent), and Uniduto: 10% (ten percent).
The parties will study the most appropriate corporate and tax model and define, within 60 days, the most efficient form of partnership, ensuring the continuity of the projects that are being carried out by PMCC.
The partnership will be made through a new company or via PMCC with the incorporation of new partners.
www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that 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.
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PETRÓLEO BRASILEIRO S.A--PETROBRAS | ||
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By: |
/S/ Almir Guilherme Barbassa
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Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
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This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results o f operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
All forward-looking statements are expressly qualified in their entirety by this cautionary statement, and you should not place reliance on any forward-looking statement contained in this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.