Petrobras: list of achievements
Petrobras is a powerful Brazilian oil and gas corporation owned by the state. It is the largest company by market capitalization in Latin America and the largest by market value, with headquarters in the southern hemisphere.
The company owes its foundation to the President of Brazil. In 1953, Getulio Vargas created a company that was a monopolist for a long time. Although the corporation is not the only one on the market, it is still considered a major producer. Its facilities produce more than 2 million oil per day. In addition, Petrobras sells fuel and its products.
The company owns refineries and tankers in 18 countries around the world: in South and North America, Africa, Asia and Europe.
Between 1953 and 1997 the company was a monopolist. It controlled field development, oil and gas production, exports and other processes related to these resources. The only thing that was not within the scope of Petrobras’ activities was fuel trade through petrol stations.
After 40 years of monopoly, the company has competitors, both foreign and domestic.
In 2001, there was an event that shook Petrobras’ position. The oil platform that belonged to it exploded and sank.
In 2003, Petrobras celebrated its 50th anniversary. To celebrate this, the corporation increased its daily oil and gas production to 2 million barrels.
In 2007, a major offshore field was discovered. Its reserves are estimated at 5 billion to 8 billion barrels of oil.
55.7% of Petrobras is owned by the government and the rest is held by individuals and legal entities from different countries.
In 2010, the company broke a record. It placed 4.27 billion shares, totaling $69.9 billion. This figure is the highest for all stock market activity.
In 2007, oil production across Brazil was 2,000,238 barrels per day, a record level.
Petrobras is a successful corporation with an established structure. In addition to oil refineries, it owns fertilizer production facilities, filling stations and other facilities. Petrobras also exports ethanol, 35% of which is produced in Brazil.
The company purchases biodiesel on behalf of the state. Along with ethanol, the management sees great prospects for these resources and is actively investing in their production. In the country it is possible to find biofuel and ethanol for cars of various types on more than 7 thousand refuelings.