Petrobras

From Wikipedia, the free encyclopedia

Not to be confused with Petronas.
Petrleo Brasileiro S.A.

Type

Traded as

Industry
Founded
Headquarters
Area served
Key people
Products
Revenue
Net income
Owner
Number of
employees
Subsidiaries
Website

Sociedade Annima

BM&F Bovespa: PETR3,

PETR4

NYSE: PBR, PBR.A

BMAD: XPBR, XPBRA

BCBA: APBR

Oil and gas

3 October 1953 (61 years)
Rio de Janeiro, RJ, Brazil
Worldwide
Aldemir Bendine (CEO)[1][2]
Almir Guilherme Barbassa (CFO)
Petroleum and its derivatives,
natural gas, lubricant,
petrochemical, fertilizer, biofuel
US$130.0 billion (2013)[3]
US$10.0 billion (2013)[3]
Brazilian Government (64%)[4]
80,497 (2010)[3]
Petrobras Distribuidora, Transpetro,
Petrobras Argentina, Braskem
among others.[5]
www.petrobras.com

Petrleo Brasileiro S.A. or Petrobras (Portuguese pronunciation: [ptobas]) is a semipublic[6] Brazilian multinational energy corporation headquartered in Rio de Janeiro,
Brazil. It is the largest company in the Southern Hemisphere by market capitalization
and the largest in Latin America measured by 2011 revenues.[7][8][9]

Petrobras was founded in 1953. While the company ceased to be Brazil's legal
monopolist in the oil industry in 1997, it remains a significant oil producer, with output
of more than 2 million barrels (320,000 m3) of oil equivalent per day. The company
owns oil refineries, oil tankers, and is a major distributor of oil products. Petrobras is a
world leader in development of advanced technology from deep-water and ultra-deep
water oil production.[10][11]
In September 2010, Petrobras conducted the largest share sale in history, when
US$72.8 billion worth of shares in the company were sold on the BM&F Bovespa stock
exchange.[12][13] Upon the sale, Petrobras immediately became the fourth-largest
company in the world measured by market capitalisation.[13][14][15] In 2008, Petrobras
surpassed Microsoft, making it the third largest in the Americas by market value,
according to the consulting firm Economtica. [16] In the same year, the state became the
third most profitable company in the Americas, except Canada, surpassing Vale. [16]
In September 2010, in order to achieve self-financing for the operation of the pre-salt
layer,[17] Petrobras made a capitalization of 70 billion dollars by offering in the financial
market, the largest ever in the world.[18] In August 2011 the company broke two records
in terms of its net profit10.94 billion Reais in the second quarter of the year
21.9 billion Reais in the first half of the year.[19]
However, in October 2013, the company was rated as the most indebted in the world,
according to the Merrill Lynch report.[20] According to Moody's, between December
2013 and October 2014 Petrobras' debt rose by 25 billion to $170 billion. Moody's
downgraded Petrobras' debt rating and warned of more downgrades in the future until at
least 2016.[21] By 2015 Petrobras faced dangerous exposure to bond markets and could
face punitive pricing as the company lacked credibility as it had not published its
audited accounts.[22] An investigation called Operation Car Wash placed Petrobras at the
center of what may be the largest corruption scandal in Brazil's history. Prominent
Brazilian politicians and businessmen are under investigation in regards to "suspicious"
contracts worth $22 billion.[23][22]

Contents

1 Overview

2 History

3 Controversies
o 3.1 Bolivian controversy
o 3.2 U.S spying allegations
o 3.3 Operation Car Wash

4 Business

3.3.1 2015 protests in Brazil

o 4.1 Petrobras is involved in the following areas of business

o 4.2 Growth
o 4.3 Oil reserves

5 Profitability
o 5.1 Investment grade
o 5.2 Devaluation

6 List of recent oil field discoveries

o 6.1 Mega-fields

6.1.1 Criticisms

7 Reputation

8 Global operations
o 8.1 International Associations
o 8.2 New Zealand

9 Petrobras in popular culture

10 See also

11 References

12 External links

Overview

Petrobras headquarters in downtown Rio de Janeiro.

Petrobras controls significant oil and energy assets in 18 countries in Africa, North
America, South America, Europe, and Asia. These holdings as well as properties in
Brazil give it total assets of $137.3 billion (2012). Petrobras is Latin America's largest
company with 2008 sales of $118.3 billion, according to a ranking from Latin Business
Chronicle over Latin America's Top 500 Companies. The Brazilian government directly
owns 54 percent of Petrobras' common shares with voting rights, while the Brazilian
Development Bank and Brazil's Sovereign Wealth Fund (Fundo Soberano) each control
5 percent, bringing the State's direct and indirect ownership to 64 percent.[24] The
privately held shares are traded on BM&F Bovespa, where they are part of the Ibovespa
index.
Petrobras began processing oil shale in 1953, developing Petrosix technology for
extracting oil from oil shale. An industrial size retort began processing shale in the
1990s.[25] In 2006, Petrobras claimed that this industrial retort had a design capacity to
process 260 tonnes/hour of oil shale.[26] Petrobras operated the world's largest oil
platform the Petrobras 36 Oil Platform until an explosion on 15 March 2001 led to
its sinking on 20 March 2001. P-36 was replaced by FPSO-Brasil. In 2007, Petrobras
inaugurated the Petrobras 52 Oil Platform. The 52 is the biggest Brazilian oil platform
and third in the world.[27]
Petrobras is also recognized as the largest sponsor of arts, culture, and environmental
protection in Brazil. Among the environmental initiatives, Petrobras is the main
supporter of whale conservation and research through the Brazilian Right Whale
Project[28] and the Instituto Baleia Jubarte (Brazilian Humpback Whale Institute).[29]
Petrobras has been a sponsor of the Williams Formula-1 team. The company employs
the H-Bio process to produce biodiesel.[30]
According to Forbes, as of April 2011, Petrobras is the 8th largest company in the
world.[31]

History

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, So Paulo.

Petrobras was created in 1953 during the government of Brazilian president Getlio
Vargas, with the support of both the ruling parties and the opposition alike in Congress.
However, with the creation of a new government the following year, opposition from
the government emerged to Petrobras.
Petrobras commenced its activities with the collection it inherited from the old National
Oil Council (pt) (Conselho Nacional do Petrleo, CNP), which, however, preserved its
inspection function for the sector.
The oil exploration and production operations, as well as the remaining activities
connected to the oil, natural gas, and derivative sector, except for wholesale distribution
and retail via service stations, were a monopoly Petrobras held from 1954 to 1997.
Early on, in 1961, it was hurt by a pessimistic government report concerning oil
prospects in Brazil. Two years after the report's release, Petrobras created its research
center Cenpes.
Unfortunately, only ten years later, the company's period of growth was halted by the
1973 oil crisis. The entire country was affected, and the "Brazilian miracle", a period of
rapid growth in the economy ended. Petrobras itself nearly went bankrupt. But, then, a
year later, the company discovered an oil field in Bacia de Campos. This discovery
boosted its finances and helped it restructure nationwide. In 1975, Petrobras signed

contracts partnering with private oil contracts concerning exploration for more oilfields
in Brazil. The company was also affected by the 1979 energy crisis, but not as bad as in
1973.
During this period, Petrobras became the leader in derivative marketing in Brazil, and,
thanks to the company's performance, it was awarded the Offshore Technology
Conference (OTC) in 1992, one which it was granted again in 2001.[32]
After 40 years of exploration, production, refining, and transportation of Brazil's oil,
Petrobras started to compete with other foreign and domestic companies in 1997 when
the government approved Law N.9.478. This law broke Petrobras's monopoly and
allowed for competitors to develop Brazil's oilfields. The Brazilian government also
created the National Petroleum Agency (Agncia Nacional do Petrleo, ANP),
responsible for the regulation and supervision of activities in the petroleum industry,
and the National Council of Energy Policies, a public agency responsible for the
development of public energy policy. That same year, Petrobras reached the mark of
producing 1 million barrels (160,000 m3) per day. The company also executed
agreements with other Latin American governments and began operations outside of
Brazilian domains.
In 2000, Petrobras achieved a world record for oil exploration in deep waters. The
exploration reached a depth of 1,877 metres (6,158 ft) below sea level. The following
year, an accident at the P-36 Platform, the world's largest oil platform, caused it sink on
20 March. Petrobras lost about 1,500 tons of oil from this one accident alone.
In 2003, commemorating its 50 years, Petrobras doubled its daily production of oil and
natural gas, surpassing the mark of 2 million barrels (320,000 m3). That same year, it
acquired the Argentine company Perez Companc Energa (PECOM Energa S.A.). This
acquisition also included bases in Bolivia, Peru, and Paraguay. Two years later, on 19
December 2005, Petrobras announced a contract with the Japanese Nippon Alcohol
Hanbai to launch a joint-venture. The project, named Brazil-Japan Ethanol, would
import ethanol from Brazil, in a bid to develop an ethanol market in Japan.
On 21 April 2006, the company started production on the P-50 oil platform, in the
Albacora East Field at Campos Basin, which gave Brazil self-sufficiency in oil
production.[33] The following year, the Tupi oil field in the Santos Basin was discovered.
This field could possibly be the world's largest. In 2008, Petrobras announced the
discovery of the Jupiter field, off the coast of Rio de Janeiro.
The following year, Petrobras discovered what is possibly the world's third largest oil
field in the State of So Paulo. However, no evidence has been shown for this so far. In
2009, Petrobras announced a market capitalization plan to finance its future investments
in ultra-deep oil exploration. The share offering in the BM&F Bovespa Stock Exchange
took place in September 2010, becoming the largest market capitalization in history,
with R$ 120,4 billion (US$69,97 billion) in shares issued.[34] In 2009, it also acquired
Esso's Chilean business. Petrobras also finalized a $10 billion loan from China in return
for a ten years long supply of oil (150,000 barrels (24,000 m3) a day the first year,
200,000 barrels (32,000 m3) a day the nine others).[35]

Controversies

Bolivian controversy
On 1 May 2006, Bolivia's president Evo Morales announced the nationalization of all
gas and oil fields in the country. Evo Morales ordered the occupation of all fields by the
Bolivian Army. Petrobras was heavily affected by the nationalization. At the time, the
company's Bolivian subsidiary had great importance in the country's economy:[36]

Petrobras represented 24 percent of the Bolivian industrial taxes, 18 percent of

the country's GDP and 20 percent of the foreign investments.

The company operated in 46 percent of the oil reserves in Bolivia and was
responsible for 75 percent of the country's gas exports to Brazil.

The company invested, between 1994 and 2005, US$1.5 billion in the Bolivian
economy.

The nationalization strained the relationship between Petrobras and the Bolivian
government. On 28 October 2006, after a long negotiation, Petrobras and Bolivia signed
an agreement, whereby the company would take 18 percent of the profits, and the
Bolivian government would take the remainder.[37]

U.S spying allegations

It emerged in September 2013 that the US government had been allegedly spying on
Petrobras after Organizaes Globo reported the claims on national television. The
information was reportedly provided by US journalist Glenn Greenwald.[38] Petrobras
announced that it was investing R$21 billion over five years to improve its data security.
[39]

Operation Car Wash

Main article: Operao Lava Jato
Brazilian President Dilma Rousseff championed Petrobas and promised during her
election campaign "to supercharge the economy while avoiding the corruption and
mismanagement that have plagued other oil-rich countries in the developing world."
However by 2015 Petrobras faced a "colossal bribery scandal" and Rousseff struggled
for her political survival.[40]
According to a BBC correspondent, an investigation called Operation Car Wash
begun in February 2014 by Brazilian Federal Police and public prosecutors placed
Petrobras at the center of what may be the largest corruption scandal in Brazil's history.
On 14 November 2014 police raids spanned six Brazilian states and netted prominent
Brazilian politicians and businessmen including some Petrobras directors who are
under investigation in regards to "suspicious" contracts worth $22 billion.[23]Because of
the ongoing investigation, Petrobas' auditing company Pricewaterhouse Coopers could
not sign off on the publication of its 2014 third quarter audited accounts. Without the
audited accounts Petrobas lacked credibility. The value of its assets diminished by

billions of dollars and by 2015 Petrobras continued to face "dangerous exposure to bond
markets" and even more punitive pricing.[22]
On 16 March 2015, prosecutors charged 27 people in the Petrobras scandal including
Joo Vaccari Neto, treasurer of the Workers' Party and Renato Duque, former head of
services of Petrobras.[41] Vaccari was charged with corruption and money laundering that
was possibly related to allegedly illegal campaign donations that was supposedly
solicited from Renato Duque.[42] Duque was then arrested and denied "having money
abroad or moving money abroad" according to his attorney while Vaccari's lawyer also
denied allegations against him.[42]
2015 protests in Brazil
Main article: 2015 protests in Brazil
When the allegations that graft occurred when President Rousseff was part of the board
of directors of state-owned energy company, Petrobras, between 2003 to 2010;
Brazilians became upset with the government and called for Rousseff's impeachment.[42]
In March 2015, Brazil's Supreme Court ruled that prosecutors could investigate about
50 individuals, for possible bribery and other scandals focused around Petrobras which
allegedly gave lawmakers in Brazil millions of dollars for themselves and for political
campaigns.[43] The outrage among Brazilians against President Rousseff, her
government and the Workers' Party then grew into a protest of millions on 15 March
2015.[43][44]

Business
Petrobras' most important assets are petroleum reserves in Brazil. Its oil field in the
Campos Basin accounts more than 80 percent of the Brazilian oil production. The
company also works on developing "green energy", including biodiesel fuel. Petrobras
recently opened its business to the ethanol fuel, facing great competition against the
North American ethanol. However, investment in biofuels will represent only 1 percent
of the company's profit between 2008 and 2012.[45]
Petrobras works extensively with foreign acquisitions too, buying and controlling some
of the most important energy companies in South America and exploring huge deepwater fields of West Africa and the Gulf of Mexico. Petrobras is known for its
technology in deep-water exploration. The Tupi field, which could be the world's third
largest oil field (although data is still unverified), is a deep-water discovery, located in
the pre-salt layer.[clarification needed]
The company began to increase profits from 2002, with the government's heavy
investments. In the first quarter of 2008, Petrobras reached the market value of
US$295.6 billion, surpassing companies such as Microsoft, BP, and Chevron-Texaco,
but behind ExxonMobil and General Electric. Petrobras' market value is also larger than
Industrial and Commercial Bank of China, making it the sixth largest company by
market value in the world.[46]

Petrobras is involved in the following areas of business

Petrobras' financial growth between 2002 and 2006

Domestic sales: Domestic sales represent the majority of the company's profit
and include the extraction and distribution of oil, natural gas, derivatives,
electricity and petrochemical products;

Export: The main exports are not of oil extraction itself, but are related to
mechanic technologies. However, it is planned that the company starts to export
oil in large quantities when it begins to explore the Jupiter and the Tupi fields
(see "List of recent oil field discoveries");

Foreign exchange gains: The company imports natural gas from other South
American countries, mostly from Bolivia. According to the Brazilian group
National Petroleum Agency, Petrobras owns Brazil's largest and most important
gas pipe network, having a near monopoly of the natural gas marketed in the
country.

Growth

Rising prices: the company profited from rising oil prices in 20072008.

Increasing demand: oil demand has increased drastically in the emergent

countries, for which Petrobras exports its technologies. The BRIC countries'
(Brazil itself, Russia, India and China) growth explains this huge demand. The
Brazilian self-sufficiency in Petroleum (as of May 2006) allowed the company
to export small quantities of oil.

Political issues: despite of being nearly half privately owned, the majority of
shares belong to the Brazilian government, which gives it control of the
company's finances and operations. The recent growth of the company is
explained by political stability. Since 1997 the Brazilian oil market was opened
to foreign investments, but Petrobras continues to be the largest oil company in
the country, enjoying a near monopoly.

Oil reserves
At the 20th National Forum, it was revealed that Petrobras, with 11.7 billion barrels
(1.86109 m3) of oil, has the fourth biggest oil reserves among petrochemical companies
with publicly traded shares. The figure does not include the recent discoveries in the
mega-fields of Tupi, Jupiter, Carioca and Bem-te-vi.[47]

Profitability
The discovery of large reserves in Santos Basin increased its stock price by about 19
percent in one day. Petrobras is considered the most reliable Blue Chip of the Bovespa
Stock Exchange.[citation needed] While the North American Crisis of 2007 decreased the
value of the stocks of a great majority of stock markets in the world, Petrobras helped
hold the Bovespa's activities steady, making it one of the least affected stock exchanges
in the world by the crisis.[citation needed]

Investment grade
On 30 April 2008, Brazil received an "investment grade" rating from Standard & Poor's,
given to countries with stable and consistent growing economy. According to Standard
& Poor's, Brazil jumped from a BB+ grade to a BBB-, the minimum level any country
needs to reach to receive the grade. Petrobras played a big part in the country's growth,
and the high rating would be useful in attracting foreign investments.[citation needed]
Investors often criticize the company for not increasing gasoline prices in Brazil, in
spite of increasing prices in the international market. The company is having problems
adapting its business to the ethanol market.[citation needed]

Devaluation
After a great advance on its stock shares (reaching 52.30 Brazilian real (R$) in
Ibovespa) in May 2008,[citation needed] Petrobras faced a devaluation in the following month,
its shares decreasing to R$43.90 on 19 June 2008.[48][49][50] The most probable
explanation for the great fall was the lack of information about the mega-fields recently
discovered by the company.[citation needed] The great instability in Wall Street's markets also
had great weight in those results.
Petrobras' fall also led to bad results on the entire BM&F Bovespa, as Petrobras and
Vale accounted for more than 25% of BM&F Bovespa's trade value,[51] the devaluation
of those companies' shares led it to lose more than 6,000 points in just 25 days.
However, with the continuous decrease of oil prices, Petrobras' stock shares fell to
R$33,00 on 14 August 2008. Its market cap presented the biggest loss of value in the
Americas,[citation needed] with US$93 billion (13 August 2008).

List of recent oil field discoveries

Oil platform P-51, the first 100-percent Brazilian oil platform

Petrobras doubled its success rate at drilling new wells, 20025.[52]

Petrobras latest Oil Discoveries
Date

Basin

Field

API gravity

18 April 2006

Espirito Santo

Golfinho

38[53]

11 July 2006

Santos

Tupi

30[54]

2 March 2007

Campos

Caxareu

30[55]

8 June 2007

Espirito Santo

Pirambu

29[56]

5 September 2007

Santos

Tupi

27[57]

10 September 2007

Campos

Xerelete

17[58]

20 September 2007

Santos

Tupi Sul

28[59]

21 December 2007

Santos

Caramba

27[60]

21 January 2008

Santos

Jupiter

Huge Gas field[61]

21 May 2008

Santos

Bem-Te-Vi

36[62]

29 May 2008

Santos

Tiro

36[62]

12 June 2008

Santos

Guar

28[63]

14 July 2008

Espirito Santo

Golfinho

27[64]

20 August 2008

Campos

Aruan

28[65]

26 September 2008

Santos

Sidon

36[66]

21 November 2008

Espirito Santo

Jubarte

30[67]

25 November 2008

Jequitinhonha

BM-J-3

?[68]

26 January 2009

Santos

Piracuc

?[69]

8 April 2009

Santos

Corcovado-1

?[70]

16 November 2009

Campos

Marimb

29[71]

Mega-fields
The company's most important discoveries started at the end of 2007, when the first
mega-field, named Tupi, was found at a depth of 5,000 meters below the sea level, the
first discovery of the company in the pre-salt layer. The second discovery was
announced on 21 January 2008: the new mega-field was named Jupiter and had the
same size as Tupi.[72] The company revealed no more information about the field,
forcing many investors to regard those facts as an "industrial secret".
On 21 May 2008, the company announced the discovery of a third oil megafield,[73]
located 250 km distant from the state of So Paulo, at a depth between 6000 and 6300
meters below sea level. The discovery was made by a consortium formed by Petrobras

(66 percent of participation), Shell (20 percent) and Galp Energia (14 percent). The
field's oil reserves had an API gravity between 25 and 28.
Criticisms
According to the Brazilian economy website InfoMoney.com, North American stock
companies are considering the oil mega-field discoveries suspicious. On 24 May 2008,
the company's shares fell 4 percent because of the scarce information given by Petrobras
about the fields.[74]
An article written by Roberto Altenhofen Pires Pereira for InfoMoney.com said
(translated from Portuguese):
Despite the incredible advance of 14 percent in Petrobras stock shares after the discovery of Tupi
and Jupiter fields, the North American answer for the shares was the worst possible. Petrobras'
ADR's American Depositary Receipts fell more than 4 percent in New York. It seems that the
market is interpreting the discovery with mistrust. (...) Everyone knows that the potential of the
fields is huge, but that stills being only a "potential". No concrete information about the fields'
capacity has been released at any time. These are only expectations, which still face a great
technological challenge to the exploration of so deep deposits, which may even make this
exploration unfeasible.
[75]

Reputation
By the end of 2003, Petrobras subscribed to the United Nations Global Compact, a
voluntary agreement which encompasses a set of principles regarding human rights,
working conditions and the environment. The company's growth since 2006 has made
Petrobras the most profitable company in the Brazilian economy, and gave it great
importance worldwide, being recognized as the eighth biggest oil exploring company in
the world.[76] Since 2006 Petrobras has been listed in the Dow Jones Sustainability
Index, an important reference index for environmentally and socially responsible
investors. On 25 February 2008, the Spanish consultancy firm Management and
Excellence acknowledged Petrobras as the world's most sustainable oil company.[77]
The civil society named Transparency International, which fights against global
corruption, published a list on 28 April 2008 containing the names of 42 companies with
high transparency levels, in which Petrobras was included.[78]
In May 2008, World Trademark Review magazine awarded[79] the Petrobras trademark
team with an Industry Award for Latin American Team of the Year, a category in which
Petrobras competed with Coca-Cola, Pepsico, and Procter and Gamble.
In 2015 Petrobras suffered with a big corruption scandal, which started with the
purchase of an oil refinery in Pasadena, TX. The money laundry scandal resulted in
US$3.48bi (10 billion Reais) diverted from the company by politicians of the PT,
PMDB and PP parties. Most notably was the involvement of the PT (Workers' Party) to
which the president Dilma Rousseff belongs. [80]
Major oil spills 1975 to 2001[81]

Date
March 1975
October 1983
February 1984
August 1989
January 1994
May 1994
March 1997
October 1998
January 2000
March 2000
March 2000
July 2000
August 2000
August 2000
November 2000
March 2001

Volume (litres)
6 million
1.5 3 million
700,000
690,000
350,000 400,000
2.7 3.1 million
600,000 2.8
1 1.5 million
1.3 million
18,000
7,250
4 million
1,800
4,000
86,000
1.4 million

Location
Guanabara Bay
Bertioga
Cubato
So Sebastio
Campos Basin
So Sebastio
Guanabara Bay
So Jos dos Campos
Guanabara Bay
Tramanda
So Sebastio
Barigui Iguau Rivers
Rio Grande de Norte
Angra dos Reis
So Sebastio
Campos Basin

Global operations

Petrobras' global oil exploration, as shown in December 2006 with a total of 243,292
BOED

Refinery in Cochabamba, Bolivia

Petrobras global operations extends over 27 countries (including Brazil). Those
operations are more related to diplomatic trades than oil exploration, although the
company has important fields in India, Turkey, Angola and Nigeria. The most important
countries for commercial agreements are Japan, United Kingdom and China. The
complete map can be seen in Petrobras official link Petrobras Worldwide.

International Associations

Petrobras is a member of the following international associations:

ARPEL (Asociacin Regional de Empresas de Petroleo y Gas Natural en

Latinoamrica y el Caribe)

IPIECA (International Petroleum Industry Environmental Conservation

Association)

OGP (International Association of Oil and Gas Producers)

WBCSD (World Business Council for Sustainable Development)

New Zealand
In June 2010, Petrobras was granted a five-year permit for exploration of the
Raukumara Basin, off the East Cape of New Zealand.[82] April 2011 and the Orient
Explorer began surveying off the east coast of New Zealand's North Island. Greenpeace
protestors, in opposition to the deal between the New Zealand government and
Petrobras, attempted to halt the work by swimming in front of the survey ship.[83] Local
Maori[84] felt the risk to the local waters and fish stocks, should oil be found and drilling
go ahead, was too high a price and that better consultation with local people was
required.[85] In 2012 Petrobras returned their exploration licences amidst their "annus
horribilis".[84]

Petrobras in popular culture

Petrobras maintains a high budget to fund Brazil's cultural production, such as

films, theatre plays and scholarly works. It is the largest sponsor of culture in
Brazil since the 1990s.[86]

In the Speed Racer live-action movie, one of the cars featured is the "Green
Energy", a biodiesel fueled racing car sponsored by Petrobras.

Petrobras is the main sponsor of the Brazilian Srie A.

Petrobras was a secondary sponsor for the AT&T WilliamsF1 Team from 1998
to 2008 and has resigned with Williams F1 from 2014 onwards.

Petrobras was a sponsor for Flamengo in Brazil from 1984 to 2009.

The sauropod dinosaur Petrobrasaurus is named after this company.

See also
Brazil portal
Companies portal

Energy portal

History of Brazil (19451964)

Eletrobras

H-Bio

Ethanol fuel in Brazil

Petrobras 36 Oil Platform

Petrosix

Transpetro

Tupi oil field

Walter K. Link

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1.

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