Exhibit 10-1 Petrobras Disclosures Statements of Income December 31, 2008 and 2007 (In thousands of reais, except net income per share) Consolidated Statements of Income Note 2008 2007 Gross operating revenues Selling expenses Products 266,217,208 218,050,202 Services, mainly freight 276,872 203,972 266,494,080 218,254, 174 Sales charges (51,375,544) (47,676,449) Net operating revenues 215,118,536 170,577,725 Cost of products and services sold (141,623,359) (104,398,043) Gross profit 73,495,177 66,179,682 Operating income (expenses) Selling expenses (7,162,264) (6,059,734) Financial Expenses 18 (4,193,135) (3,292,002) (Continued)Consolidated Statements of Income Note 2008 2007 Revenues 18 3,494,430 2,417,659 Exchange and monetary variations, net 18 3,827,489 (3,146,547) Administrative and general expenses Management and board of directors remuneration (35,792) (29,259) Administrative (7,211,566) (6,398,633) Taxes (862,766) (1,255,511) Cost of research and technological development (1,705,572) (1,712,338) Loss of recovery of assets (933,088) (446,129) Exploratory costs for the extraction of crude oil and gas (3,494,258) (2,569,724) Healthcare and pension plans 21 (1,427,395) (2,494,510) Other operating income and expenses, net 18 (4,712,243) (5,188,393) (24,416,160) (30,175,121) Equity in income of subsidiaries and associated companies Equity in earnings (losses) of investments 13 (874,218) (465,274) Income from operations before income and social contribution 48,204,799 35,539,287 taxes, employee and management profit sharing and minority interest Social contribution 20,5 (4,169,529) (2,876,775) Income tax 20,5 (11,792,449) (8,395,983) Income before employees' and directors' profit-sharing 32,242,821 24,266,529 and minority interest Employees' and directors' profit-sharing 22 (1,344,526) (1,011,914) Income before minority interest 30,898,295 23,254,615 Minority interest 2,089,497 (1,742,826) Net income for the year 32,987,792 21,511,789 Net income per share at the end of the year - R$ 3,76 4,90 See the accompanying notes to the financial statements. Balance Sheets December 31, 2008 and 2007 (In thousands of reais) Consolidated Assets Note 2008 2007 Current assets Cash and cash equivalents 5 15,888,596 13,070,849