LIST OF SUBSIDIARIESExhibit 8.1List of subsidiaries of Petróleo Brasileiro S.A. — PETROBRAS               **Total** **Voting** **Country of**  **Subsidiary companies** **Capital** **Capital** **Incorporation** **Activity**Petrobras Química S.A. — PETROQUISA  99.00   99.99  Brazil PetrochemicalPetrobras Distribuidora S.A. — BR  100.00   100.00  Brazil DistributionBRASPETRO Oil Services Company — BRASOIL  99.99   99.99  Cayman Islands International operationsBRASPETRO Oil Company — BOC  99.99   99.99  Cayman Islands International operationsPIB — Petrobras Internacional — BRASPETRO B.V. (1)  78.80   78.80  The Netherlands International operationsPetrobras Comercializadora de Energia Ltda. — PCEL (2)  99.00   99.00  Brazil EnergyPetrobras Negócios Eletrônicos S.A. — E-PETRO  99.95   99.95  Brazil CorporatePetrobras Gás S.A. — GASPETRO  99.94   99.94  Brazil Gas transportationPetrobras International Finance Company — PIFCo  100.00   100.00  Cayman Islands International Comercialization and FinancingPetrobras Transporte S.A. — TRANSPETRO  100.00   100.00  Brazil TransportationDownstream Participações S.A.  99.99   99.99  Brazil Refining and distributionPetrobras Netherlands BV- PNBV  100.00   100.00  The Netherlands Exploration and ProductionUTE Nova Piratininga Ltda.  99.00   99.00  Brazil EnergyFAFEN Energia S.A.  100.00   100.00  Brazil Energy5283 Participações Ltda.  100.00   100.00  Brazil EnergyBaixada Santista Energia Ltda.  100.00   100.00  Brazil EnergySociedade Fluminense de Energia Ltda. — SFE (6)  100.00   100.00  Brazil EnergyTERMORIO S. A. (3)  100.00   100.00  Brazil EnergyMPX Termoceará Ltda. (6)  100.00   100.00  Brazil EnergyTERMOBAHIA Ltda. (3)  29.00   29.00  Brazil EnergyIbiritermo S. A. (3)  50.00   50.00  Brazil Energy EVM Leasing Co. (4)  0.00   0.00  Cayman Islands Exploration and ProductionCompanhia Petrolífera Marlim (4)  0.00   0.00  Brazil Exploration and ProductionNovaMarlim Petróleo S.A. (4)  0.00   0.00  Brazil Exploration and ProductionNova Transportadora do Sudeste S.A.(4)  0.00   0.00  Brazil TransportationNova Transportadora do Nordeste S.A.(4)  0.00   0.00  Brazil TransportationBarracuda e Caratinga Holding Company B.V. (4)  0.00   0.00  Cayman Islands Exploration and ProductionCayman Cabiunas Investments Co. Ltda. (4)  0.00   0.00  Cayman Islands Exploration and ProductionCompanhia Locadora de Equipamentos Petrolíferos S.A. — CLEP (4) (5)  0.00   0.00  Brazil Exploration and ProductionAlbacora Japan Petroleum Limited Company (4)  0.00   0.00  Brazil Exploration and ProductionCompanhia de Recuperação Secundária (4)  0.00   0.00  Brazil Exploration and Production
 

 
               **Total** **Voting** **Country of**  **Subsidiary companies** **Capital** **Capital** **Incorporation** **Activity**PDET Offshore S.A. (4)  0.00   0.00  Brazil Exploration and ProductionConsórcio Macaé Merchant (6)  0.00   0.00  Brazil EnergyCia. De Desenvolvimento e Modernização de Plantas Industriais — CDMPI  0.00   0.00  Brazil Exploration and ProductionCharter Development — CDC  0.00   0.00  USA Exploration and ProductionCodajás Coari Participações Ltda.  0.00   0.00  Brazil TransportationGasene Participações Ltda.  0.00   0.00  Brazil TransportationManaus Geração Termelétrica Participações Ltda  0.00   0.00  Brazil EnergyFundo de Investimento Imobiliário — FII  0.00   0.00  Brazil CorporateBlade Securities Limited  0.00   0.00  Brazil Corporate (1) Parent Company of Petrobras Energia S.A. — PEPSA (former Perez Companc S.A.-PECOM) andPetrolera Entre Lomas S.A. — PELSA (former Petrolera Perez Companc S.A.) (2) Former Petrobras Energia Ltda. (3) Consolidated according to FIN 46, commencing December 31, 2003. Formerly were accountedfor as capital leases pursuant to SFAS 13. (4) Consolidated according to FIN 46, commencing December 31, 2003. Formerly were specialpurpose entities formed in connection with project financings transactions. (5) Former Langstrand Holdings S.A.. (6) Consolidated according to FIN 46, commencing December 31, 2003. Formerly were notconsolidated in PETROBRAS financial statements.     List of subsidiaries of Petrobras International Finance Company               **Total** **Voting** **Country of**  **Subsidiary companies** **Capital** **Capital** **Incorporation** **Activity**Petrobras Europe Limited — PEL  100.00   100.00  United Kingdom Trading Agent & Marketing AdvisorPetrobras Finance Limited — PFL  100.00   100.00  Cayman Islands International ComercializationBEAR Insurance Company Limited  100.00   100.00  Bermuda Insurance