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____

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Re-opening of US$ 1.25 billion Global Notes due 2019

Rio de Janeiro, July 9 2009 – PETRÓLEO BRASILEIRO S/A - PETROBRAS announces that, its wholly owned subsidiary Petrobras International Finance Company (“PifCo”) closed today the re-opening of the of Global Notes due March 15, 2019 in the amount of US$ 1.25 billion. The yield to investors was 1.25% below the yield of the original issuance, closed in February 2009, and the following conditions were confirmed today:

• Coupon: 7.875%
  
  
• Yield to Investors: 6.875%
  
  
• Spread to US Treasury Note: 332,3 basis points
  
  
• Interest Payment Dates: March 15 and September 15 of each year, beginning on September 15, 2009.
  
  
• Ratings: Baa1 (Moody’s); BBB- (S&P); BBB (Fitch)
  
  
• Joint Bookrunners: Citi, HSBC, J.P. Morgan and Santander
  
  
• Co-Managers: Banco do Brasil e Societe Generale
  
  
• Status: Senior, unsecured

The book was five times oversubscribed and the notes were distributed to over 280 investors from United States, Europe and Latin America, the majority of which dedicated to high grade market.

In accordance with the 2009-2013 Business Plan, Petrobras will use these funds to repay the bridge loans incurred at the beginning of this year.

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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 – 22^nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947

This document may contain forecasts 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 forecasts. 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.

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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture 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 of 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.

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