Last updated

Coordinates: 22°54′34″S43°10′45″W / 22.9094°S 43.1793°W / -22.9094; -43.1793


Petróleo Brasileiro S.A. — Petrobras
Type Public Mixed Economy
Industry Energy: Oil and gas
Founded3 October 1953;67 years ago (3 October 1953) [2]
Founder Getúlio Vargas
Headquarters Rio de Janeiro,
Area served
Key people
Products Petroleum
Petroleum products
Natural gas
Production output
2.07 million barrels of oil equivalent (12,700,000 GJ) per day [3]
RevenueDecrease2.svg US$ 76.6 billion [4]  (2019)
Increase2.svg US$ 20.6 billion [5]  (2019)
Increase2.svg US$ 10.1 billion [6]  (2019)
Total assets Increase2.svg US$ 229.7 billion [7]  (2019)
Total equity Increase2.svg US$ 74.4 billion [8]  (2019)
Owner Government of Brazil (50.26%) [9]
Number of employees
46,416 [10]  (2020)

Petróleo Brasileiro S.A., better known by the acronym Petrobras (Portuguese pronunciation:  [ˌpɛtɾoˈbɾas ] ), 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 #120 in the most recent Fortune Global 500 list. [12] In the 2020 Forbes Global 2000, Petrobras was ranked as the 70th -largest public company in the world. [13]


Petrobras' financial growth between 2002 and 2006 Petrobras revenue 2002-2006.jpg
Petrobras' financial growth between 2002 and 2006
Petrobras standard model for its land oil pump, popularly known as Wooden Horse (Cavalo de Pau in Portuguese) in UFRN, Natal, Brazil. Petrobras-cavalo-mecanico-3.jpg
Petrobras standard model for its land oil pump, popularly known as Wooden Horse (Cavalo de Pau in Portuguese) in UFRN, Natal, Brazil.
Skyscraper hosting Petrobras' offices in Paulista Avenue, Sao Paulo. Building in Avenida Paulista, Brazil 2.jpg
Skyscraper hosting Petrobras' offices in Paulista Avenue, São Paulo.

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. [14] In 1953, Brazil produced only 2,700 barrels of oil per day. [15] In 1961, the company's REDUC refinery began operations near Rio de Janeiro, [16] 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. [17] In 1968, the company established Petrobras Quimica S.A ("Petroquisa"), a subsidiary focused on petrochemicals and the conversion of naphtha into ethene. [18]

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. [19] In 2006, Petrobras said that their industrial retort had the capacity to process 260 tonnes/hour of oil shale. [20]

In 1994, Petrobras put the Petrobras 36, the world's largest oil platform, into service. It sank after an explosion in 2001 and was a complete loss. [21] 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. [22] In 1999, the National Petroleum Agency signed agreements with other companies, ending the company's monopoly. [23]

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. [24] In 2002, Petrobras acquired the Argentine company Perez Companc Energía (PECOM Energía S.A.) from the Perez Companc Family Group  [ es ] 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. [25]

In 2005, Petrobras announced a joint venture with Nippon Alcohol Hanbai KK to sell Brazilian ethanol to Japan, called Brazil-Japan Ethanol. [26] 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. [15] By November 2015, the company had accumulated $128 billion in debt, 84% of it denominated in foreign currencies. [27]


Business areas

The company operates in six business areas, listed in order of revenue: [2]

Production and reserves

Petrobras controls significant oil and energy assets in 16 countries in Africa, North America, South America, Europe, and Asia. [2]

However, Brazil represented 92% of Petrobras' worldwide production in 2014 and accounted for 97% of Petrobras' worldwide reserves on 31 December 2014, [2] when the company had 8,112.8 million barrels of oil equivalent (4.9633×1010 GJ) of proved developed reserves and 4,599.7 million barrels of oil equivalent (2.8140×1010 GJ) of proved undeveloped reserves in Brazil. [2] Of these, 62.7% were located in the offshore Campos Basin. [2] The largest growth prospect for the company is the Tupi oil field in the Santos Basin. [2]

In 2015, the company produced 2.284 million barrels of oil equivalent (13,970,000 GJ) per day, of which 89% was petroleum and 11% was natural gas. [2]

International investments

Petrobras' global oil exploration, as shown in December 2006 with a total of 243,292 BOED Petrobras Production 2006.jpg
Petrobras' global oil exploration, as shown in December 2006 with a total of 243,292 BOED
Refinery in Cochabamba, Bolivia, which was nationalized by the Bolivian government in 2007 Petrobrasbolivia2006.jpg
Refinery in Cochabamba, Bolivia, which was nationalized by the Bolivian government in 2007

Reserves held outside of Brazil accounted for 8.4% of production in 2014. [2] The majority of these reserves are in South America; the company has assets in Argentina, Bolivia, Chile, Colombia, Venezuela, Paraguay, and Uruguay. [2]

Petrobras owns refineries in Texas (100,000 barrels per day of throughput), Okinawa, Japan (100,000 barrels per day of throughput), and Bahía Blanca, Argentina (30,000 barrels per day of throughput). [2]

The company also owns exploration blocks in the Gulf of Mexico and through joint ventures has production in Nigeria, Benin, Gabon, and Namibia. [2]


North Region
Northeast Region
Southeast Region
South Region
Out of Brazil


In 1961, Petrobras geologist Walter K. Link published Link's memorandum, which implied that the company was better off exploring offshore instead of onshore. [28] In 1963, Petrobras discovered the Recôncavo baiano  [ pt ] and Carmópolis oil fields. [22]

The company's growth was halted by the 1973 oil crisis. The entire country was affected, and the "Brazilian miracle", a period when annual GDP growth exceeded 10%, ended. Petrobras nearly went bankrupt. [29] In 1974, the company discovered an oil field in the Campos Basin. This discovery boosted its finances and helped it restructure nationwide. [30] In 1975, the Brazilian Government temporarily allowed foreign operators into Brazil, and Petrobras signed exploration contracts with foreign companies for oilfields in Brazil. [31]

The company was affected by the 1979 energy crisis, although not nearly as badly as in 1973.

In 1997, Petrobras reached the production milestone of 1 million barrels (160,000 m3) per day. The company also executed agreements with other Latin American governments and began operations outside Brazil. [32]

In 2003, on its 50-year anniversary, Petrobras surpassed 2 million barrels of oil equivalent (12,000,000 GJ) of daily production. [32] On 1 May 2006, after the Bolivian gas conflict, Bolivia's president Evo Morales announced the nationalization of all gas and oil fields in the country and ordered the occupation of all fields by the Bolivian Army. [33] On 4 May 2006, Petrobras cancelled a major future investment plan in Bolivia as a result. [34] The Bolivian government demanded an increase in royalty payments from foreign petroleum companies to 82%, but eventually settled for a 50% royalty interest. [35]

In 2007, Petrobras inaugurated the Petrobras 52 Oil Platform. The 52 is the biggest Brazilian oil platform and the third-biggest in the world. [36]

In 2007 and 2008, Petrobras made several major oil discoveries including the Tupi oil field (formerly known as the Lula oil field), the Jupiter field, and the Sugar Loaf field, all in the Santos Basin, 300 km off the coast of Rio de Janeiro. The oil fields were discovered by partnerships that include Petrobras, Royal Dutch Shell, and Galp Energia. However, estimates for the reserves of these new fields varied widely. [37]

Oil platform P-51, the first 100% Brazilian oil platform Oil platform P-51 (Brazil).jpg
Oil platform P-51, the first 100% Brazilian oil platform

The P-51 Platform, the first semisubmersible platform built entirely in Brazil, capable of producing up to 180,000 barrels of oil per day, started production in the Campos Basin in January 2009, [38] and in February 2009, China agreed to loan Petrobras US$10 billion in exchange for a supply of 60,000-100,000 barrels of oil per day to a subsidiary of Sinopec and 40,000-60,000 barrels of oil per day to PetroChina. [39] In August 2009, Petrobras acquired ExxonMobil's Esso assets in Chile for US$400 million. [40]

In September 2010, Petrobras completed a US$70 billion share offering, the largest share offering in history, to be used to develop newly discovered oil fields. [41] Giovanni Biscardi and Machado Meyer represented Petrobras. Biscardi brought his Brazilian corporate practice to Greenberg Traurig in January 2020. [42]

In 2012, Petrobras surrendered permits to explore offshore in New Zealand. [43] [ why? ]

In July 2013, a worker strike action shut down production at several of the company's oil platforms. [44] In September 2013, Petrobras sold eleven onshore exploration and production blocks in Colombia to Perenco for US$380 million. [45] In September 2013 Organizações Globo reported on national television that the US government had been spying on Petrobras. This information was reportedly provided by US journalist Glenn Greenwald. [46] Petrobras announced that it was investing R$21 billion over five years to improve its data security. [47]

In 2014, the company sold its assets in Peru to PetroChina for US$2.6 billion. [48] Also in 2014, Petrobras set a new company record for average daily production of 2.863 million barrels of oil equivalent (17,520,000 GJ). [49] in January 2020, Petroleo Brasileiro stated that it ended all of its business in Africa after completing the sale of a 50% stake in Petrobras Oil & Gas BV. [50]

Corporate issues


The Brazilian government directly owns 54% of Petrobras' common shares with voting rights, while the Brazilian Development Bank and Brazil's Sovereign Wealth Fund (Fundo Soberano) each control 5%, bringing the State's direct and indirect ownership to 64%. [51] The privately held shares are traded on B3, where they are part of the Ibovespa index.

Social responsibility

Petrobras is a major supporter of the arts in Brazil. [52]

In 2014, the largest corruption scandal in the history of Brazil was uncovered centered around Petrobras. Initially, the investigation was not focused on Petrobras executives, but rather small time doleiros (black market money dealers), who mostly used small businesses to carry out their transactions. The investigation discovered links to an executive at Petrobras, Paulo Roberto Costa  [ pt ], the director of refining and supply. [53] President Dilma Rousseff made one critical change in policy, the introduction of plea bargains, making it possible to offer deals in exchange for information leading to further arrests. [53] It was a defining moment of the investigation. Costa later confessed that he and his colleagues had knowingly overpaid on contracts, funneling excess funds to personal accounts. Paulo Costa received kickbacks of 3% on all contracts. [54] According to the investigation, a small number of top Petrobras officials colluded with an organized cartel of 16 companies to overcharge Petrobras for construction and service work in return for bribes and kickbacks. Petrobras officials pegged the total of all bribes at $2 billion at minimum. [55] As of August 2015, 117 indictments had been issued, five politicians arrested, and criminal cases brought against 13 companies. Both Dilma Rousseff, who promised to cut corruption in her election campaign, and former Brazilian president Luiz Inácio Lula da Silva served on the board of directors of Petrobras during the scandals and both were blamed, as well as the president of the lower house, Eduardo Cunha. Cunha was sentenced in March 2017 to 15 years in prison. [56] Lula was implicated in multiple corruption investigations. [57]

Protests broke out calling for the resignation or impeachment of Rousseff. The most widespread of these occurred on 13 March 2016 in over 300 municipalities. Police estimates gave about 3.5 million protestors throughout the country. [58] Some of the protests were in areas previously thought of as strongholds of the Workers Party, of which Rousseff was the leader. [59]

The Bill and Melinda Gates Foundation sued Petrobras and its auditors, PriceWaterhouseCoopers as a result of the corruption scandal. [60] Later in September 2018, Petrobras agreed to pay $853.2 million as a settlement. [61]

Environmental record

Petrobras's website notes several initiatives to preserve the environment. These include efforts to support both ocean and forest ecosystems. [62] Most notably, Petrobras has sponsored population studies and conservation efforts for humpback whales in northeast Brazil. The company's efforts helped to rebuild Brazil's humpback whale populations from 2,000 in the mid-nineties to over 9,000 in 2008. [63]

Petrobras subscribes to the United Nations Global Compact, a voluntary agreement regarding human rights, working conditions, corruption, and the environment. [64]

In 2008, the Spanish consultancy firm Management and Excellence named Petrobras the world's most sustainable oil company. [65]

Oil spills

Major oil spills – 1975 to 2001 [66]
DateVolume (litres)LocationState
March 19756 million Guanabara Bay Rio de Janeiro
October 19831.5 – 3 millionBertioga São Paulo
February 1984700,000CubatãoSão Paulo
August 1989690,000São SebastiãoSão Paulo
January 1994350,000 – 400,000Campos BasinRio de Janeiro
May 19942.7 – 3.1 millionSão SebastiãoSão Paulo
March 1997600,000 – 2.8Guanabara BayRio de Janeiro
October 19981 – 1.5 millionSão José dos CamposSão Paulo
January 20001.3 millionGuanabara BayRio de Janeiro
March 200018,000TramandaíRio Grande do Sul
March 20007,250São SebastiãoSão Paulo
July 20004 millionBarigui Iguaçu Rivers Paraná
August 20001,800Rio Grande de NorteRio Grande do Norte
August 20004,000Angra dos ReisRio de Janeiro
November 200086,000São SebastiãoSão Paulo
March 20011.4 millionCampos BasinRio de Janeiro

See also

Related Research Articles

Pemex Mexican state-owned petroleum company

Pemex is the Mexican state-owned petroleum company managed and operated by the Mexican government. It was formed in 1938 by nationalization and expropriation of all private oil companies in Mexico at the time of its formation. Pemex had total assets worth $101.8 billion in December 2019 and as of 2009 was Latin America's second largest enterprise by annual revenue, surpassed only by Petrobras. The company is the 7th most polluting in the world according to The Guardian.

Husky Energy Canadian energy company

Husky Energy Inc. is a company engaged in hydrocarbon exploration, headquartered in Calgary, Alberta, Canada. It operates in Western and Atlantic Canada, the United States and the Asia Pacific region, with upstream and downstream business segments. In the 2020 Forbes Global 2000, Husky Energy was ranked as the 1443rd-largest public company in the world.

Campos Basin

The Campos Basin is one of 12 coastal sedimentary basins of Brazil. It spans both onshore and offshore parts of the South Atlantic with the onshore part located near Rio de Janeiro. The basin originated in Neocomian stage of the Cretaceous period 145–130 million years ago during the breakup of Gondwana. It has a total area of about 115,000 square kilometres (44,000 sq mi), with the onshore portion small at only 500 square kilometres (190 sq mi).

Occidental Petroleum American oil company

Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States, the Middle East, and Colombia as well as petrochemical manufacturing in the United States, Canada, and Chile. It is organized in Delaware and headquartered in Houston. The company is ranked 167th on the Fortune 500 and 669th on the Forbes Global 2000.


Repsol S.A. is a Spanish energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.

Sonangol Group Angolan energy company

Group Sonangol is a parastatal that oversees petroleum and natural gas production in Angola. The group consists of Sonangol E.P. and its many subsidiaries. The subsidiaries generally have Sonangol E.P. as a primary client, along with other corporate, commercial and individual clients. Angola is estimated to have over 5 billion barrels (790,000,000 m3) of offshore and coastal petroleum reserves, and new discoveries are outpacing consumption by a 5 to 1 ratio.

Orinoco Belt

The Orinoco Belt is a territory in the southern strip of the eastern Orinoco River Basin in Venezuela which overlies the world's largest deposits of petroleum. Its local Spanish name is Faja Petrolífera del Orinoco.

Energy in Brazil Overview of the production, consumption, import and export of energy and electricity in Brazil

Brazil is the largest energy consumer in South America. It is the most important oil and gas producer in the region and the world's largest ethanol fuel producer. The government agencies responsible for energy policy are the Ministry of Mines and Energy (MME), the National Council for Energy Policy (CNPE), the National Agency of Petroleum, Natural Gas and Biofuels (ANP) and the National Agency of Electricity (ANEEL). State-owned companies Petrobras and Eletrobras are the major players in Brazil's energy sector, as well as Latin America's.

The National Oil Corporation is the national oil company of Libya. It dominates Libya's oil industry, along with a number of smaller subsidiaries, which combined account for around 70% the country's oil output. Of NOC's subsidiaries, the largest oil producer is the Waha Oil Company (WOC), followed by the Arabian Gulf Oil Company (Agoco), Zueitina Oil Company (ZOC), and Sirte Oil Company (SOC).

Tupi oil field Brazilian offshore oil field

The Tupi oil field is a large oil field located in the Santos Basin, 250 kilometres (160 mi) off the coast of Rio de Janeiro, Brazil. The field was originally nicknamed in honor of the Tupi people and later named after the mollusc, however it was also ambiguously similar to the name of former Brazilian president Luiz Inacio Lula da Silva. It is considered to be the Western Hemisphere's largest oil discovery of the last 30 years.

Lapa oil field

The Lapa oil field is a deepwater oil field in the pre-salt Guaratiba Group of the South Atlantic Santos Basin, 270 kilometres (170 mi) off the coast of São Paulo, Brazil. The field lies in water depths of approximately 2,140 metres (7,020 ft). When the discovery of the field was initially reported, it caused widespread commotion because of the speculated size of the field, which surpassed the Mexican Cantarell Complex, the biggest oil field complex outside of the Middle East. The size of Lapa, then known as Carioca and later as Sugar Loaf, was announced as possibly "as large as 33 billion barrels [5.2 billion cubic metres]". Later appraisal of the field drastically reduced the reserves to the current estimate of 459 million barrels.

Oil reserves in Ghana

The petroleum industry of Ghana is regulated by the state-owned Ghana National Petroleum Corporation (GNPC) and administered by the state-owned Ghana Oil Company (GOIL).

The mineral industry of Paraguay includes the production of cement, iron and steel, and petroleum derivatives. Paraguay has no known natural gas or oil reserves. To meet its crude oil and petroleum products demand, Paraguay relies completely on results of approximately 25,400 barrels per day (4,040 m3/d) (bbl/d). The mining sector contributes little to the country's economy, accounting for only 0.1% of its gross domestic production (GDP).

Energy in Paraguay is the term for all the energy produced and used by the country of Paraguay. As Paraguay is landlocked and has no significant natural gas reserves, causing its citizens to burn firewood which contributes to deforestation, its energy consumption is a large issue. The government imports fuel to use, and state-owned Petróleos Paraguayos (Petropar) has a monopoly on all crude oil and petroleum product sales and imports in Paraguay. It operates Paraguay's sole refinery, the 7,500 bbl/d (1,190 m3/d) Villa Elisa facility.

OGX Petróleo e Gás Participações S.A. is a Brazilian publicly listed oil and gas company belonging to the EBX Group. Prior to its 2013 bankruptcy filing, OGX was once Brazil's second largest oil company by market value after Petrobras.

Roncador Field

Roncador oil field is a large oil and gas field located in the Campos Basin, 125 km (78 mi) off the coast of Brazil, northeast from Rio de Janeiro. It covers a 111 km2 (43 sq mi) area and reaches depths between 1,500 and 1,900 metres.

Libra oil field

Libra oil field is a large ultra-deepwater oil prospect located in the Santos Basin, about 230 kilometres (140 mi) off the coast of Rio de Janeiro, Brazil, north of Tupi field. Libra is in the process of being tested and may turn out to be the largest pre-salt find in the basin, ahead of the Tupi oil field, making the largest find since Cantarell Field in 1976. National Agency of Petroleum (ANP) officials are confident Libra will contain even more recoverable oil than Franco oil field.

Vaca Muerta

The Vaca Muerta Formation, commonly known as Vaca Muerta is a geologic formation of Late Jurassic to Early Cretaceous age, located in the Neuquén Basin in northern Patagonia, Argentina. It is well known as the host rock for major deposits of shale oil and shale gas.

The Albacora-Leste Oil Field is an oil field located in Campos Basin. It was discovered in 1986 and developed by Petrobras. The oil field is operated by Petrobras, that owns 90% of the field, while Repsol owns the remaining 10%. The total proven reserves of the Albacora-Leste oil field are around 534 million barrels (72×106tonnes), and production is centered on 180,000 barrels per day (29,000 m3/d).

Sapura Energy

Sapura Energy Berhad is a Malaysian integrated oil and gas services company based in Seri Kembangan, Selangor. Sapura Energy trades in over 20 countries, such as China, Australia, United States of America, and those in Western Africa and the Middle East, employing approximately 13,000 people. Sapura Energy's operations cover exploration, development, production, rejuvenation, decommissioning, and abandonment. The company was formed via a merger between SapuraCrest and Kencana in May 2012 and trades on the Main Market of Bursa Malaysia Securities Berhad. The company was renamed as Sapura Energy Berhad on 24 March 2017.


  1. Alex Cuadros (2016). Brazillionaires: Wealth, Power, Decadence and Hope in an American Country. New York: Spiegel & Gray. p. 30.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 "pbraform20f_2014.htm - Generated by SEC Publisher for SEC Filing" . Retrieved 5 May 2016.
  3. "Petrobras aprova patamar de 2,07 milhões de barris para produção de petróleo em abril". G1.
  4. "Petrobras revenue 2019". Statista.
  5. "Petroleo Brasileiro S.A.- Petrobras Operating Income 2006-2020 | PBR".
  6. "Petroleo Brasileiro S.A.- Petrobras Net Income 2006-2020 | PBR".
  7. "Petroleo Brasileiro S.A.- Petrobras Total Assets 2006-2020 | PBR".
  8. "The Complete Toolbox for Investors |".
  9. "Shareholding Structure".
  10. "Perfil |". Petrobras.
  11. "Subsidiárias |". Petrobras. Archived from the original on 3 December 2018.
  12. "Petrobras | 2020 Global 500". Fortune.
  13. "Forbes Global 2000" . Retrieved 31 October 2020.
  14. Bello (14 February 2015). "Whose oil in Brazil?". The Economist .
  15. 1 2 Muello, Peter (21 April 2006). "New Rig Brings Brazil Oil Self-Sufficiency". Washington Post . Associated Press.
  16. Kinch, Diana (26 December 2011). "Petrobras halts some Reduc refinery ops after fire". MarketWatch .
  17. "Press Tour to the Petrobras Research and Development Center (Cenpes) on Monday, 30 June". Brazilian Government. 24 June 2014.
  18. "Petrobras Quimica SA Petroquisa - Company Profile and News - Bloomberg Markets". Retrieved 17 September 2020.
  19. "Energy Minerals Division".
  21. "Petrobras P-36" . Retrieved 5 May 2016.
  22. 1 2 Andréa Novais (24 November 2011). "Understand Petrobras". The Brazil Business.
  23. "Monopoly ends for Brazil's Petrobras". Offshore Magazine. 1 November 1999.
  24. Wheatley, Jonathan (18 December 2000). "Pumping Up Petrobras". Bloomberg L.P.
  25. "Petrobras to acquire control of Perez Companc". Oil and Gas Journal. 29 July 2002.
  26. Ative Soluções. "Japan - Petrobras" . Retrieved 5 May 2016.
  27. "Petrobras's Dangerous Debt Math: $24 Billion Owed in 24 Months". Bloomberg L.P. 18 November 2015.
  28. Dott, Robert (2001). "From the Archivists Corner - Linkages" (PDF). The Outcrop: 14–17.
  29. Van Riel, Cees B. M. (29 March 2012). The Alignment Factor. ISBN   9781136445460 . Retrieved 5 May 2016.
  30. "Campos Basin". Petrobras. Retrieved 5 May 2016.
  31. James Brooke (7 November 1994). "U.S. Oil and Gas Companies Test Waters in Brazil, Again". New York Times .
  32. 1 2 "Now 50, Petrobras, the Brazilian National Oil Company, Has Aged Well". Wharton School of the University of Pennsylvania. 8 October 2003.
  33. Christine Hauser (1 May 2006). "Bolivia Nationalizes Natural Gas Industry". New York Times .
  34. "Petrobras scraps Bolivia project". BBC. 4 May 2006.
  35. "A hard bargain: Evo Morales deals and wins on gas". The Economist. 2 November 2006.
  36. "Petrobras starts production tests at P-52 platform". Oil and Gas Journal. 26 November 2007.
  37. "The next oil giant?". The Economist. 19 March 2009.
  38. "Petrobras' P-51 Kicks Off Production in the Campos Basin". RigZone. 26 January 2009.
  39. Jonathan Wheatley (19 February 2009). "Brazil to supply oil to China for loans". Financial Times. Archived from the original on 11 July 2015.
  40. Fábio Palmigiani (8 August 2008). "Petrobras to acquire Esso assets in Chile for US$400mn". BN Americas.
  41. Peter Millard (24 September 2010). "Petrobras Raises $70 Billion as Investors See Growth". Bloomberg L.P.
  42. Jackson, Dylan. "Greenberg Traurig Bolsters Brazilian Practice With Addition of Carlton Fields Shareholde". The American Lawyer. Retrieved 28 February 2020.
  43. "Brazilian oil giant Petrobras dumps NZ exploration permits". New Zealand Herald. 4 December 2012.
  44. "Petrobras Workers Strike, Shut Down Some Oil Platforms". Forbes Magazine . 25 July 2013.
  45. "Brazilian oil giant Petrobras dumps NZ exploration permits". New Zealand Herald. 4 December 2012.
  46. Asher Levine (8 September 2013). "U.S. government spied on Brazil's Petrobras oil firm". Reuters.
  47. Leahy, Joe (18 September 2013). "Brazil's Petrobras to invest heavily in data security". Financial Times.
  48. Chen Aizhu and Judy Hua and Anthony Boadle (13 November 2013). "Petrobras sells Peru unit to PetroChina/CNPC for $2.6 billion". Reuters.
  49. "Petrobras hits 'historical' production record". Offshore Energy Today. 13 January 2015.
  50. "Brazil's Petrobras closes $1.5 billion deal to sell stake in African joint venture". Reuters. 14 January 2020. Retrieved 15 January 2020.
  51. "Source: 09 – April 2011 – "Governance – Capital Ownership" at Petrobras Investor Relation Site". Archived from the original on 19 September 2011.
  52. "Fostering Culture: We encourage the Arts and Culture - Petrobras". Petrobras. Retrieved 5 May 2016.
  53. 1 2 Watts, Jonathan (1 June 2017). "Operation Car Wash: The biggest corruption scandal ever?" via
  54. Costas, Ruth (21 November 2014). "Scandal strains Brazil's giant Petrobras" via
  55. Cuadros, op. cit. p. 270
  56. "Brazil ex-speaker Eduardo Cunha jailed for 15 years". BBC. 30 March 2017. Retrieved 28 April 2017.
  57. Brad Brooks (10 October 2016). "Lula charged over Odebrecht Angola work in Brazil graft probe". Reuters. Retrieved 28 April 2017.
  58. "Manifestantes fazem maior protesto nacional contra o governo Dilma" (in Portuguese). O Globo. 13 March 2016.
  59. Watts, Jonathan (14 March 2016). "More than a million Brazilians protest against 'horror' government" via
  60. "Bill Gates sues oil giant Petrobras and PwC over corruption scandal". The Telegraph. 25 September 2015.
  61. Viswanatha, Aruna; Lewis, Jeffrey T.; Rubenfeld, Samuel (27 September 2018). "Petrobras to Pay $853.2 Million to Settle Corruption Probes in U.S., Brazil". Wall Street Journal. ISSN   0099-9660 . Retrieved 28 September 2018.
  62. "Mapping to preserve" . Retrieved 5 May 2016.
  63. Rapoza, Kenneth. "Maybe Petrobras Isn't So Horrible After All". Forbes.
  64. "Petroleo Brasileiro SA - Petrobras – 2015 Communication on Progress - UN Global Compact" . Retrieved 5 May 2016.
  65. "Petrobras is the most sustainable oil company". T&B Petroleum. 22 February 2008. Archived from the original on 5 April 2016.
  66. "Case study: An oil stained legacy – Greenpeace do Brasil versus Petrobras S.A." in Tulder, Rob Van; Zwart, Alex Van Der (20 January 2006). International Business-Society Management: Linking Corporate Responsibility And Globalization (PDF). Routledge. ISBN   9780415342414 . Retrieved 6 June 2012. (Entry at Google Books)
  67. "Um brasileiro nas pistas de Speed Racer". Retrieved 25 August 2020.
  68. "Documentários Brasileirão Petrobras virarão filme". Amambai Notícias.
  69. "Williams sign deal with Petrobras".
  70. "Flamengo anuncia fim do patrocínio da Petrobras - Esportes". Estadão.
  71. "Petrobrás renova patrocínio do River Plate". Exame. 10 October 2010.
  72. L, Atkinson. "PETROBRASAURUS : DinoChecker dinosaur archive". DinoChecker.