Petrobras – Clarification on the News Regarding the Sale of Liquigás

Rio de Janeiro, September 5, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter 2985/2016-SAE/GAE 2, which requests the following clarifications:

Official Letter No. 2985/2016-SAE/GAE 2

“Dear Sirs,

A news article published by the newspaper O Estado de São Paulo on September 2, 2016 states, among other information, that:

1. Petrobras has already received proposals for the acquisition of Liquigás (gas cylinder) and will analyze the offers within 60 days;
2. the asset was evaluated at R$1.5 billion, but the amount could reach R$2.5 billion.

We have not identified this information in the documents sent by the company through the Empresas.NET System. In case of contradiction, please inform the document and pages containing the information, as well as the date and time in which they were sent.

It is worth noting that the company must disclose periodic and eventual information, in addition to other information that may interest the market, through the Empresas.NET System, ensuring wide and immediate dissemination of information an equal treatment to its investors and other market players.

Given the above, we request that you clarify whether the information on the items above is true, as well as other information deemed relevant, by 9:00 a.m. of September 5, 2016, without prejudice to the sole paragraph of Article 6 of CVM Instruction 358/02”.


Petrobras informs that the competitive process for the sale of Liquigás Distribuidora S.A. is in progress, as informed to the market in a Material Fact of June 15, 2016. The proposals received are being analyzed by the Company, considering several aspects.

Petrobras does not comment on estimates of its assets’ value, neither the value of the offers received throughout the divestment process, due to strategic matters and in view of the confidentiality agreements.

The Company also clarifies that, to date, there has been no resolutions on the sale of that company by Petrobras’ Board of Executive Officers and Board of Directors and any agreements confirming conclusion of the transaction.

Facts deemed to be material regarding this matter will be disclosed to the market in a timely manner.

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