Pursuant to Rule 13a-16 or 15d-16 of the
20031-912 - Rio de Janeiro, RJ
Federative Republic of Brazil
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____
This report on Form 6-K is incorporated by reference in the Registration
Statement on Form F-3 of Petróleo Brasileiro -- Petrobras (No. 333-163665).
News Clarification: R$ 15 billion cost reduction
Rio de Janeiro, October 19, 2012 – Petróleo Brasileiro S.A. – Petrobras, in response to Official Letter GAE 4452-12, provides clarification as to news broadcast in the media concerning its R$ 15 billion operating costs reduction.
In a press release disclosed to the market yesterday (10/18/2012), Petrobras provided clarifications about its Operating Costs Optimization Program (Procop), one of the Structuring Programs of the 2012-2016 Business and Management Plan.
As was announced in the press release, the 1st Phase of the Project was completed in August 2012 with the aim of establishing a preliminary vision of the focus areas and the optimization potential. Preliminary calculations of cost reduction opportunities were carried out in this phase.
The R$ 15 billion represent the potential reduction identified preliminarily in the scenario where various short-, medium- and long-term actions were already fully implemented in 2011 (base-year of the study).
The Project is currently in Phase II where cost optimization opportunities are being analyzed so as to confirm the potentials identified preliminarily in Phase I.
Procop targets are expected to be set out and announced in December 2012, when Petrobras will fully disclose them to the market, in compliance to the legislation in effect.
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PETRÓLEO BRASILEIRO S.A--PETROBRAS | ||
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By: |
/S/ Almir Guilherme Barbassa
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Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
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