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).
News Explained: Change in the Board of Executive Officers
Rio de Janeiro, January 24, 2012 – In accordance with Official Letter CVM/SEP/GEA-1/No. 18/12, dated 01/23/12, whereby the Securities and Exchange Commission of Brazil requested information concerning a newspaper article in “Valor Econômico” with the heading “Gabrielli to leave Petrobras to run for public office in Bahia”, Petróleo Brasileiro S.A. – Petrobras states that:
The Company notified the market in the morning of 01/23/2012 regarding possible changes in the Board of Executive Officers. Therefore, when the abovementioned Official Letter was received, the Company had already notified the market that the Chairman of the Petrobras Board of Directors, Mr. Guido Mantega, had stated that the nomination of the current Director for Gas & Energy, Maria das Graças Silva Foster, as head of the Company, was going to be sent for consideration in the next Board meeting on February 9. After the Board approves the nomination, the Company will make an announcement to the market.
Concerning the new rules for sharing oil royalties and special participations, as stated in the Valor Econômico article, the Company clarifies that it cannot interfere in the matter, which falls within the jurisdiction of Congress.
Lastly, the Company’s 2011-2015 Business Plan still stands – all investments and business strategies for the development of the Pre-salt area remain unchanged. The Company’s Business Plan is reviewed every year by the Board of Executive Officers and is approved by the Board of Directors. The Company will notify the market when the Business Plan undergoes a revision.
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 forward-looking statements. 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.
|
PETRÓLEO BRASILEIRO S.A--PETROBRAS | ||
|
By: |
/S/ Almir Guilherme Barbassa
|
|
|
Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
||
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.