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.

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

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

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

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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.

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

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

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

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

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

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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.

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

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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".

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

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

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

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

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Petrobras is a major supporter of the arts in Brazil.

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

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