  Despite the recent developments in Graphene Oxide due to its importance as a
host precursor of Graphene, the detailed electronic structure and its evolution
during the thermal reduction remain largely unknown, hindering its potential
applications. We show that a combination of high resolution in situ X-ray
photoemission and X-ray absorption spectroscopies offer a powerful approach to
monitor the deoxygenation process and comprehensively evaluate the electronic
structure of Graphene Oxide thin films at different stages of the thermal
reduction process. It is established that the edge plane carboxyl groups are
highly unstable, whereas carbonyl groups are more difficult to remove. The
results consistently support the formation of phenol groups through reaction of
basal plane epoxide groups with adjacent hydroxyl groups at moderate degrees of
thermal activation (~400 {\deg}C). The phenol groups are predominant over
carbonyl groups and survive even at a temperature of 1000 {\deg}C. For the
first time a drastic increase in the density of states (DOS) near the Fermi
level at 600 {\deg}C is observed, suggesting a progressive restoration of
aromatic structure in the thermally reduced graphene oxide
