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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Suzano Petroquímica Acquisition -
End of the period of the withdrawal right

(Rio de Janeiro, December 28, 2007). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, clarifies, complementing the Market Announcement published on November 13 2007 regarding the payment of possible reimbursements to shareholders holding ordinary shares issued by the Company due to manifestations of the exercise of the right to withdraw derived from the approval, during the Company’s Extraordinary General Meeting held on October 29 2007, of the ratification of the Share Purchase & Sale Agreement” dated August 03 2007, signed between the indirect controlling shareholders of Suzano Petroquímica S/A (sellers) and Petróleo Brasileiro S/A (buyer), the minutes of which were published on November 27 2007 in the Rio de Janeiro State Official Gazette, in the Gazeta Mercantil (São Paulo), Jornal do Commercio (Rio de Janeiro), and in the Valor Econômico (São Paulo) newspapers, the following:

In compliance with the terms of Article 137 of Law 6.404/76, in the 30 (thirty) days after the publication of the mentioned Meeting’s respective Minutes, i.e., up to December 27 2007, no shareholder holding ordinary shares issued by the Company made any express manifestation to exercise his/her right to withdraw.

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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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