6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of January 2007

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Commission File Number 1-15106 PETRÓLEO BRASILEIRO S.A. - PETROBRAS (Exact name of registrant as specified in its charter) BRAZILIAN PETROLEUM CORPORATION – PETROBRAS (Translation of registrant’s name into English)	Commission File Number 333-14168 PETROBRAS INTERNATIONAL FINANCE COMPANY (Exact name of registrant as specified in its charter) Not Applicable (Translation of registrant’s name into English)
Avenida República do Chile, 65 20035-900 – Rio de Janeiro – RJ, Brazil (55-21) 3224-4477 (Address of principal executive offices)	4th Floor, Harbour Place 103 South Church Street George Town, Grand Cayman Cayman Islands (55-21) 3224-1410 (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_____

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

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 o No X

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-________.

This report on Form 6-K is incorporated by reference in the Registration Statement on Form of F-4 of Petróleo Brasileiro S.A. – PETROBRAS and Petrobras International Finance Company (Amendment No. 2 to Form F-4 No. 333-138345) and its accompanying prospectus dated as of January 4, 2007.

Exhibits

Exhibit 99.1 Press Release dated as of January 18, 2007

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PETROLEO BRASILEIRO S.A. - PETROBRAS
Date: January 18, 2007	By /s/ Almir Guilherme Barbassa                 Almir Guilherme Barbassa Chief Financial Officer

	PETROBRAS INTERNATIONAL FINANCE COMPANY
Date: January 18, 2007	By /s/ Sérvio Túlio da R. Tinoco         Sérvio Túlio da R. Tinoco Financial Manager

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EX-99.1

Exhibit 99.1

Petrobras Announces Extension of Exchange Offers by Wholly Owned Subsidiary

Petrobras International Finance Company

RIO DE JANEIRO, Brazil, January 18, 2007 – Petróleo Brasileiro S.A. (NYSE: PBR; Petrobras) announced today that, in light of the recent assignment by Standard & Poor’s (S&P) of a BBB- corporate credit rating to Petrobras, its wholly owned subsidiary Petrobras International Finance Company (PIFCo) has extended its previously announced offers to exchange five series of notes (Old Notes) for new notes (Reopening Notes) and a cash amount. S&P will also assign a rating of BBB- to the Reopening Notes. The Moody’s credit rating for Petrobras and the Reopening Notes of Baa2 remains unchanged. As of 5:00 p.m., New York City time, on January 18, 2007, the total principal amount of Old Notes tendered was approximately $383,000,000.

The early tender date has been extended from 5:00 p.m., New York City time, on January 18, 2007 to 5:00 p.m., New York City time, on January 19, 2007 (Early Tender Date). The price determination date has been changed from 2:00 p.m., New York City time, on January 19, 2007 to 2:00 p.m., New York City time, on January 22, 2007 (Price Determination Date). The expiration date will be extended from 5:00 p.m., New York City time, on February 1, 2007 to 12:00 midnight, New York City time, on February 2, 2007 (Expiration Date). Withdrawal rights terminated at 5:00 p.m., New York City time, on January 18, 2007 and have not been extended. Except as described in this press release, the terms and conditions of the exchange offers as described in the applicable prospectus dated January 4, 2007 are unchanged.

The Old Notes are the 12.375% Global Step-Up Notes due 2008, 9.875% Senior Notes due 2008, 9.75% Senior Notes due 2011, 9.125% Global Notes due 2013 and 7.750% Global Notes due 2014. The Reopening Notes constitute a further issuance of, and form a single fungible series with PIFCo’s 6.125% Global Notes due 2016 that were issued on October 6, 2006.

PIFCo has retained Morgan Stanley & Co., Incorporated and UBS Securities LLC to act as dealer managers for the offers, The Bank of New York to act as exchange agent for the offers, The Bank of New York (Luxembourg) S.A. to serve as Luxembourg agent for the offers and D.F. King & Co., Inc. to act as information agent for the offers.

Requests for documents (including the prospectus) may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 for banks and brokers or at (800) 859-8508 for all others, or in writing at 48 Wall Street, 22^nd Floor, New York, New York 10005. These documents contain important information, and holders should read them carefully before making any investment decision.

Questions regarding the offers may be directed to Morgan Stanley & Co., Incorporated at (800) 624-1800 (in the United States) or (212) 761-1864 (outside the United States) and UBS Securities LLC at (888) 722-9555, ext. 4210 (in the United States) or (203) 719-4210 (outside the United States).

This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities. The offers are being made solely by the offer to purchase and related letter of transmittal. The offers shall not be made in any such jurisdiction in which it is not permitted to be made under applicable law.

A security rating is not a recommendation to buy, sell or hold securities. It may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other rating.