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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MINUTES OF THE EXTRAORDINARY MEETING

 

The Extraordinary General Meeting held on October 29, 2007, at 3:00 pm in the auditorium of the Company's head office building at Av. República do Chile, nº 65, 1^st floor, in the City of Rio de Janeiro (RJ), which deliberated upon and approved the following agenda item:

Ratification proposal of the “Share Purchase & Sale Agreement,” dated August 03 2007, signed between the indirect controlling shareholders of Suzano Petroquímica S.A. (public company headquartered at Av. Brigadeiro Faria Lima, 1355, 9 andar, São Paulo/SP, Taxpayer’s ID 04.705.090/0001 -77), as the sellers, and PETROBRAS, as the buyer, together with the respective pertinent documents; and the appointment of a specialized company for assessment purposes, under the terms of § 1 of art. 256 of Lei No. 6.404/76.

 

Rio de Janeiro, October 29, 2007.

 

PETRÓLEO BRASILEIRO S.A. – PETROBRAS

Paulo Roberto Costa
President of the Meeting

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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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