20 Facts About Petrobras

Petroleo 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.

Petrobras was created in 1953 under the government of Brazilian president Getulio Vargas with the slogan "The Oil is Ours" .

Petrobras had begun processing oil shale in 1953, developing the Petrosix technology for extracting oil from oil shale.

In 1994, Petrobras put the Petrobras 36, the world's largest oil platform, into service.

In 2002, Petrobras acquired the Argentine company Perez Companc Energia from the Perez Companc Family Group and its family foundation for $1.

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In 2005, Petrobras announced a joint venture with Nippon Alcohol Hanbai KK to sell Brazilian ethanol to Japan, called Brazil-Japan Ethanol.

In 1963, Petrobras discovered the Reconcavo baiano and Carmopolis oil fields.

In 1975, the Brazilian Government temporarily allowed foreign operators into Brazil, and Petrobras signed exploration contracts with foreign companies for oilfields in Brazil.

In 1997, Petrobras reached the production milestone of 1 million barrels per day.

Petrobras executed agreements with other Latin American governments and began operations outside Brazil.

On 4 May 2006, Petrobras cancelled a major future investment plan in Bolivia as a result.

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.

In 2012, Petrobras surrendered permits to explore offshore in New Zealand.

Petrobras did not provide a reason but the New Zealand Prime Minister John Key said the decision was "not a reflection on the capacity to undertake deep-sea drilling or the prospect of activity of that area".

Petrobras attributed the decision to a regrouping by the company after some setbacks.

In September 2013, Petrobras sold eleven onshore exploration and production blocks in Colombia to Perenco for US$380 million.

The file showed that Petrobras was one of several targets for the NSA's Blackpearl program, which extricates data from private networks.

Also in 2014, Petrobras set a new company record for average daily production of 2.

Petrobras is a major supporter of the arts in Brazil.

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