Exhibit 8.1LIST OF SUBSIDIARIESList of subsidiaries of Petróleo Brasileiro S.A. — PETROBRAS               **Total**  **Voting**  **Country of**  **Subsidiary companies** **Capital**  **Capital**  **Incorporation** **Activity**Petrobras 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 subsidiary  99.99   99.99  Cayman Islands International operationsPIB — Petrobras Internacional — BRASPETRO B.V and subsidiaries (1)  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  99.94   99.94  Brazil Gas transportationPetrobras International Finance Company — PIFCo and subsidiaries  100.00   100.00  Cayman Islands International Commercializationand 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 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 EnergyFundo de Investimento Imobiliário RB Logística — FII  98.96   98.96  Brazil CorporateBaixada Santista Energia Ltda.  100.00   100.00  Brazil EnergySociedade Fluminense de Energia Ltda. — SFE (2)  100.00   100.00  Brazil EnergyTERMORIO S. A. (3)  100.00   100.00  Brazil EnergyTERMOCEARÁ Ltda.  100.00   100.00  Brazil EnergyTERMOMACAÉ Ltda. (4)  100.00   100.00  Brazil EnergyTERMOMACAÉ Comercialização de Energia Ltda.(4)  100.00   100.00  Brazil EnergyTERMOAÇU S.A.  62.43   62.43  Brazil EnergyTERMOBAHIA Ltda. (3)  31.00   31.00  Brazil EnergyIbiritermo S. A.  50.00   50.00  Brazil Energy               **Total**  **Voting**  **Country of**  **Special purpose entities consolidated according to FIN 46(R)** **Capital**  **Capital**  **Incorporation** **Activity**Albacora 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 ProductionCia. 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 Production
 

 
               **Total**  **Voting**  **Country of**  **Special purpose entities consolidated according to FIN 46(R)** **Capital**  **Capital**  **Incorporation** **Activity**Companhia de Recuperação Secundária  0.00   0.00  Brazil Exploration and ProductionEVM Leasing Co.  0.00   0.00  Cayman Islands 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 TransportationCharterDevelopment — CDC (5)  0.00   0.00  USA Exploration and ProductionCompanhia Mexilhão do Brasil (6)  0.00   0.00  Brazil Exploration and Production (1) Parent Company of Petrobras Energia S.A. — PEPSA and other international companies. (2) Consolidated according to ARB 51, commencing December 31, 2005.Consolidated according to FIN 46(R), commencing December 31, 2003until September 30, 2005. Formerly were not consolidated inPETROBRAS financial statements. (3) Consolidated according to ARB 51, commencing December 31, 2005.Consolidated according to FIN 46(R), commencing December 31, 2003until September 30, 2005. Formerly were accounted for as capitalleases pursuant to SFAS 13. (4) Former Macaé Merchant. Consolidated according to ARB 51,commencing December 31, 2005. Macaé Merchant formerly wasconsolidated according to FIN 46(R). (See Note 18(l) to ouraudited consolidated financial statements). (5) Consolidated according to FIN 46(R). Company is a new SPE formedin 2005 to support project finance. (6) Consolidated according to FIN 46(R). Company is a new SPE formed in 2006 to support project finance.          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            CommercializationBEAR Insurance Company Limited  100.00   100.00  Bermuda InsurancePetrobras Singapore Private Limited  100.00   100.00  Singapore Trading
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