PetroquímicaSuape and Citepe sale process - General Superintendence of the
Administrative Council for Economic Defense (CADE) Opinion

Rio de Janeiro, October 11, 2017 - Petróleo Brasileiro S.A. – Petrobras,
pursuant to the material facts disclosed on 12/28/2016 and 3/27/2017, concerning
the sale process of PetroquímicaSuape and Citepe, Petrobras wholly-owned
subsidiaries, to Alpek, informs that the General Superintendence of the
Administrative Council for Economic Defense (CADE) published a dispatch
yesterday declaring the Act of Concentration to be complex and ordering the
execution of a few diligences.

The declaration of complexity is procedural act defined in article 56 of Law No.
12,529/2011 and in article 160 of CADE Internal Rules, which enables the
Superintendence to order the execution of complementary instruction, specifying
the diligences to be carried out, and furthermore granting the competition
authority the ability to request the extension of the deadline by up to 90 days,
thus altering the deadline for transaction analysis from 240 to 330 days.

The main diligences ordered were: (i) preparation of a quantitative study on the
impacts to competition arising from the transaction by the CADE’s Department of
Economic Studies (DEE); (ii) present the economic efficiencies generated by the
operation; (iii) request data from competitors.

Petrobras will continue to collaborate with CADE in order to obtain the approval
of the transaction within the legal deadline, and keep the market informed of
any relevant decision.

In addition to the approval by CADE, the completion of the transaction is still
subject to compliance with other usual preceding conditions.


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www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I e-mail:
petroinvest@petrobras.com.br
Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro,
RJ | Phone: 55 (21) 3224-1510 / 3224-9947

FORWARD-LOOKING STATEMENTS
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The Company’s actual results could differ materially from those expressed or
forecast in any forward-looking statements as a result of a variety of
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following: (i) failure to comply with laws or regulations, including fraudulent
activity, corruption, and bribery; (ii) the outcome of ongoing corruption
investigations and any new facts or information that may arise in relation to
the “Lava Jato Operation”; (iii) the effectiveness of the Company’s risk
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litigation, such as class actions or proceedings brought by governmental and
regulatory agencies.  A description of other factors can be found in the
Company’s Annual Report on Form 20-F for the year ended December 31, 2016, and
the Company’s other filings with the U.S. Securities and Exchange Commission.