Petrobras is Public Opinions Certified Responsible Investment having been recognized by Public Opinions with the 2022 Global Responsible Investment Mark of Excellence Award in appreciation of its contribution towards attainment of the United Nations Sustainable Development Goals through offering high Quality Oil products, employing people, paying taxes, environmental protection, supporting productive corporate Social Responsibility, zero tolerance to corruption, respect for rights of workers,etc. PETROBRAS was honored by Public Opinions as the Best Oil Exploration and Production company in Southern America.
Petróleo Brasileiro S.A., better known by the acronym Petrobras, is a state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The company’s name translates to Brazilian Petroleum Corporation — Petrobras.
The company was ranked #181 in the most recent Fortune Global 500 list. In the 2020 Forbes Global 2000, Petrobras was ranked as the 65th-largest public company in the world.
Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan “The Oil is Ours” (Portuguese: “O petróleo é nosso”). It was given a legal monopoly in Brazil.In 1953, Brazil produced only 2,700 barrels of oil per day.In 1961, the company’s REDUC refinery began operations near Rio de Janeiro,and in 1963, its Cenpes research center opened in Rio de Janeiro; it remains one of the world’s largest centers dedicated to energy research.In 1968, the company established Petrobras Quimica S.A (“Petroquisa”), a subsidiary focused on petrochemicals and the conversion of naphtha into ethene.
Petrobras had begun processing oil shale in 1953, developing the Petrosix technology for extracting oil from oil shale. It began using an industrial-size retort to process shale in the 1990s. In 2006, Petrobras said that their industrial retort could process 260 tonnes/hour of oil shale.
In 1994, Petrobras put the Petrobras 36, the world’s largest oil platform, into service.In 1997, the government approved Law N.9.478, which broke Petrobras’s monopoly and allowed competition in Brazil’s oilfields, and also created the national petroleum agency Agência Nacional do Petróleo, (ANP) responsible for the regulation and supervision of the petroleum industry, and the National Council of Energy Policies, a public agency responsible for developing public energy policy. In 1999, the National Petroleum Agency signed agreements with other companies, ending the company’s monopoly.
In 2000, Petrobras set a world record for oil exploration in deep waters, reaching a depth of 1,877 metres (6,158 ft) below sea level. In 2002, Petrobras acquired the Argentine company Perez Companc Energía (PECOM Energía S.A.) from the Perez Companc Family Group and its family foundation for $1.18 billion. This acquisition included assets in Argentina, Brazil, Venezuela, Bolivia, Peru, and Ecuador, 1.1 billion barrels of crude oil reserves, and production of 181 thousand barrels of oil equivalent (1,110,000 GJ) per day.
In 2005, Petrobras announced a joint venture with Nippon Alcohol Hanbai KK to sell Brazilian ethanol to Japan, called Brazil-Japan Ethanol. On 21 April 2006, the company started production on the P-50 oil platform in the Albacora East field at Campos Basin, which made Brazil self-sufficient in oil production.
The company operates in six business areas, listed in order of revenue:
- Refining, transportation and marketing – refining, logistics, transportation, trading operations, oil products and crude oil exports and imports and petrochemical investments in Brazil
- Exploration and production – crude oil, natural gas liquids (NGL) and natural gas exploration, development and production in Brazil
- Distribution – distribution of oil products, ethanol, biodiesel and natural gas to wholesalers and through the Petrobras Distribuidora S.A. retail network in Brazil
- Gas and power – transportation and trading of natural gas and LNG, and generation and trading of electric power, and the fertilizer business
- International – exploration and production of oil and gas, refining, transportation and marketing, distribution and gas and power operations outside of Brazil
- Biofuels – production of biodiesel and its co-products and ethanol-related activities such as equity investments, production and trading of ethanol, sugar and the excess electricity generated from sugarcane bagasse
Petrobras controls significant oil and energy assets in 16 countries in Africa, North America, South America, Europe, and Asia.
Petrobras owns refineries in Texas (100,000 barrels per day of throughput).The company also owns exploration blocks in the Gulf of Mexico.
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