The aim of this work is to contribute to the debate on domestic actors participation in the decision-making process of Brazilian foreign policy, regarding the possibilities of change in the patterns of centralization, emerged with political and economic liberalization. Our focus is Cardoso´s foreign policy for energy integration with Bolivia, in which we try to identify the role of Petrobras in negotiations for the construction of the gas pipeline which connects both countries. We conclude that, despite consolidation of those phenomena on Cardoso´s term, there is still a tendency of power decision centralization in Executive sphere. While Petrobras was contrary to bureaucratic elites´s objectives, company´s interests were precluded, leading it to act based on its public side. It meant that company´s priorities were political and macroeconomic objectives, not its corporative aims. It was only when Petrobras´s preferences converged with government ones - which happened during gas pipeline implementation - that they could be incorporated into public policy and company´s growth strategies could be put into practice. Theoretical framework consists of Political Economy approaches, International Relations liberal theories and analytical models of foreign policy decisionmaking process.