Guarantees for Concession Agreements for Petroleum Exploration
Derivative Financial Instruments, HEDGE and Risk Management Activities
Pronouncements, Interpretations and Orientations That Will Come Into Force in 2010
Year ended December 31, 2009 and 2008
(In thousand of reais)
The financial statements were prepared based on accounting practices adopted in Brazil, observing the provisions contained in the Corporation Law, and incorporate the changes introduced through Law 11.638/07 and Law 11.941/09 (Provisional Measure 449/08), complemented by pronouncements, interpretations and orientations of the Accounting Pronouncements Committee (CPC), approved by resolutions of the Federal Accounting Council (CFC) and rules of the Brazilian Securities Commission (CVM).
The Board of Directors authorized the publication of these financial statements in a meeting held on March 19, 2010.
Additionally, the Company is presenting the following information:
The information per business segment was prepared in accordance with SFAS-131 issued by the Financial Accounting Standards Board, which was approved by CVM/SNC /SEP Directive Release 01/2007.
In the statements per business area, the Company’s operations are structured according to the following segments: Exploration and Production, Supply, Gas and Energy, Distribution, International and corporate group entities.
The social balance presents social, environmental and functional quantitative indexes and relevant information with respect to the exercise of corporate citizenship. Some information was obtained through the Company’s subsidiary records and managerial information.
The financial statements were prepared based on accounting practices adopted in Brazil