Exhibit 8.1
 List of subsidiaries of Petróleo Brasileiro S.A. Petrobras
 Total
    
    Voting
    
    Country ofSubsidiary Companies
    
    Capital
    
    Capital
    
    Incorporation
    
    ActivityPetrobras Química S.A.Petroquisa and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    PetrochemicalPetrobras Distribuidora S.A.BR and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    DistributionBraspetro Oil Services CompanyBrasoil and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    Cayman Islands
    
    International operationsBraspetro Oil CompanyBOC and subsidiaries(1)
    
    
    99.99
    
    
    
    99.99
    
    
    Cayman Islands
    
    International operationsPetrobras Internacional Braspetro B.V.PIBBV and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    The Netherlands
    
    International operationsPetrobras Comercializadora de Energia Ltda.PCEL
    
    
    99.00
    
    
    
    99.00
    
    
    Brazil
    
    EnergyPetrobras Negócios Eletrônicos S.A.e-Petro and subsidiary
    
    
    99.95
    
    
    
    99.95
    
    
    Brazil
    
    CorporatePetrobras Gás S.A.Gaspetro and subsidiaries
    
    
    99.95
    
    
    
    99.99
    
    
    Brazil
    
    Gas transportationPetrobras International Finance CompanyPifCo and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    Cayman Islands
    
    International
Commercialization and
FinancingPetrobras Transporte S.A.Transpetro and subsidiary
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    TransportationDownstream Participações S.A. and subsidiary
    
    
    99.99
    
    
    
    99.99
    
    
    Brazil
    
    Refining and distributionPetrobras Netherlands BVPNBV and subsidiaries
    
    
    100.00
    
    
    
    100.00
    
    
    The Netherlands
    
    Exploration and ProductionFAFEN Energia S.A.
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    Energy5283 Participações Ltda
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyFundo de Investimento Imobiliário RB LogísticaFII
    
    
    99.00
    
    
    
    99.00
    
    
    Brazil
    
    CorporateBaixada Santista Energia Ltda
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergySociedade Fluminense de Energia Ltda.SFE
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyTermorio S.A.
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyTermoceará Ltda.
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyTermomacaé Ltda.
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyTermomacaé Comercialização de Energia Ltda.
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    EnergyTernoaçu S.A.
    
    
    72.10
    
    
    
    72.10
    
    
    Brazil
    
    EnergyTermobahia Ltda.
    
    
    31.00
    
    
    
    31.00
    
    
    Brazil
    
    EnergyIbiritermo S.A.
    
    
    50.00
    
    
    
    50.00
    
    
    Brazil
    
    EnergyUsina Termelétrica de Juiz de Fora
    
    
    100.00
    
    
    
    100.00
    
    
    Brazil
    
    Energy
 Total
    
    Voting
    
    Country ofSpecial
Purpose Entities Consolidated According to FIN 46(R)(*)
    
    Capital
    
    Capital
    
    Incorporation
    
    ActivityAlbacora Japan Petroleum Limited Company
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionBarracuda e Caratinga Holding Company B.V.
    
    
    0.00
    
    
    
    0.00
    
    
    Cayman Islands
    
    Exploration and ProductionCompanhia Petrolífera Marlim
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionNovaMarlim Petróleo S.A.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionCayman Cabiunas Investments Co. Ltda.
    
    
    0.00
    
    
    
    0.00
    
    
    Cayman Islands
    
    Exploration and ProductionCompanhia De Desenvolvimento e Modernização de Plantas IndustriaisCDMPI
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionCompanhia Locadora de Equipamentos Petrolíferos S.A.CLEP
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionPDET Offshore S.A.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionCompanhia de Recuperação Secundária
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionNova Transportadora do Nordeste S.A.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    TransportationNova Transportadora do Sudeste S.A.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    TransportationGasene Participações Ltda.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    TransportationManaus Geração Termelétrica Participações Ltda.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    EnergyBlade Securities Limited
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    CorporateCodajás Coari Participações Ltda.
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    TransportationCharter DevelopmentCDC
    
    
    0.00
    
    
    
    0.00
    
    
    USA
    
    Exploration and ProductionCompanhia Mexilhão do Brasil
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Exploration and ProductionFundo de Investimento em Direitos Creditórios
Não-padronizados do Sistema PetrobrasFIDC-NP (2)
    
    
    0.00
    
    
    
    0.00
    
    
    Brazil
    
    Corporate
 
 (1)
    
    Braspetro Oil Company (BOC) exercised its option to purchase all the shares of EVM Leasing Co
on June 18, 2007 (See Note 14 of our audited consolidated financial statements for the year
ended December 31, 2007). EVM Leasing Co. has been consolidated according to ARB 51,
commencing June 2007. Consolidated according to FIN 46(R), commencing December 31, 2003 until
May 2007.(2)
    
    At December 31, 2007, the Company had amounts invested in the Petrobras Groups
Non-Standardized Credit Rights Investment Fund (FIDC-NP). This investment fund is
predominantly intended for acquiring credit rights, performed and/or non-performed, of
operations carried out by companies in the Petrobras System, and aims to optimize the
financial management of the funds of the Company.(*)
    
    Termétrica Nova Piratininga Ltda. is not included in the audited consolidated financial
statements as of December 31, 2007, due to the dissolution of the Piratininga
Consortium. List of subsidiaries of Petrobras International Finance Company
 Total
    
    Voting
    
    Country ofSubsidiary Companies
    
    Capital
    
    Capital
    
    Incorporation
    
    ActivityPetrobras Europe LimitedPEL
    
    
    100.00
    
    
    
    100.00
    
    
    United Kingdom
    
    Trading Agent and
Marketing AdvisorPetrobras Finance LimitedPFL
    
    
    100.00
    
    
    
    100.00
    
    
    Cayman Islands
    
    International
CommercializationBEAR Insurance Company Limited
    
    
    100.00
    
    
    
    100.00
    
    
    Bermuda
    
    InsurancePetrobras Singapore Private Limited
    
    
    100.00
    
    
    
    100.00
    
    
    Singapore
    
    International
Commercialization