Pipelines are widely employed systems by the transport of oil and gas. Due to its great extensions and to economic and environmental reasons it is important to assure safe and efficient operation of the pipelines. After some time of operation the pipes can present damage that can affect its structural integrity, and require for repair and even operation interruption with consequently financial losses for the pipeline operating industries.One of the most commonly registered defects by pipes is corrosion. The determination of the residual load capacity of corroded pipes is object of study of many researchers all over the world. With this effort empirical methods were developed and are widely employed. Most of these methods are however applicable to pressure loaded pipes, and do not take into account more complex combined loading. Additionally highly conservative results are obtained by these methods. Alternative methods have been developed based on the finite element method.The objective of this work is to evaluate the load capacity of corroded pipes subjected to combined loading, which simulates the loads in field. These include internal pressure, bending due to soil settlement and axial load representing thermal effects. In this work the pipe model was developed in order to reproduce the experimental end field conditions. Global aspects of pipe modeling are discussed. Experimental test results and numerical analysis present in the literature are taken for comparison.The examples were analyzed with the commercial finite element code ABAQUS version 6.1.