Petrobras

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Petróleo Brasileiro SA

logo
legal form Sociedade Anônima (public company)
ISIN BRPETRACNPR6
founding 3rd October 1953
Seat Rio de Janeiro , Brazil
management Roberto Castello Branco ( CEO )
Number of employees 62,703
sales 88,827,000,000 US dollars
Branch Mineral oil company
Website www.petrobras.com
As of April 15, 2018

Petrobras headquarters in central Rio de Janeiro

Petrobras ( Petróleo Brasileiro SA ) is a Brazilian semi-public petroleum company based in Rio de Janeiro . The company operates oil fields and refineries as well as petrochemical plants and has a network of filling stations in Latin America.

history

In 1953, the then President of Brazil, Getúlio Vargas , nationalized the oil industry, which had been primarily American-controlled in Brazil, under the motto “We own the oil!”. To this end, Petrobras was founded on October 3, 1953 and given a monopoly over most sectors of the crude oil industry. This met with considerable resistance in the years that followed.

After the company was almost bankrupt in 1973 due to the first global oil crisis, the company discovered a large oil field in the Bacia de Campos in 1974 and was able to recover economically as a result. In order to promote further exploration, risk contracts of partnership with private oil companies were concluded from 1975 in order to intensify the search for new oil fields and to consolidate its influence in the country. Petrobras was not as badly affected by the second world oil crisis that followed in 1979 as it was in 1973.

In 1997, the Brazilian government passed Law No. 9,478 , which breaks the company's economic monopoly in Brazil. In the same year, Petrobras achieved a production of one million barrels per day for the first time and expanded for the first time abroad through agreements with Latin American governments.

On March 15, 2001, the then largest oil platform in the world, Petrobras 36 with its 120 m high derrick, was destroyed by several unexplained explosions and sank on March 20. As a result, there was significant environmental pollution.

2003: Acquires Argentina's largest oil company, Perez Companc Energía (PECOM Energía SA) and its operational bases in Bolivia , Peru and Paraguay . At the end of 2005, Petrobras found in the Campos Basin , near the metropolis of Rio de Janeiro , about 1200 meters below the sea surface, an oil field between 700 million and one billion barrels called Papa-Terra . The exploitation of this oil field was started together with the US partner Chevron Corporation in 2009. Additional gas and oil fields were discovered in the Santos Basin (Campo de Tupi, estimated at 5-8 billion barrels of light oil, API, as of April 28, 2008) (State of São Paulo ).

In 2007 Petrobras opened the first bioethanol plant in Brazil for the production of cellulosic ethanol (second generation ethanol).

At the end of 2007, “Jupiter” was found near Santos, which at the time was believed to be the third largest oil field in the world with 33 billion barrels off the coast of Brazil. With more than US $ 13 billion in profits, the company posts the best financial results in its history, and its share price climbs over 106% between February and December. At the end of 2008, Petrobras was producing 2.01 million barrels a day.

In 2009, Petrobras received a $ 10 billion loan from the United States to expand its deep-sea drilling operations, and in 2010 it entered into exploration agreements with the United States and several other countries. In order to implement the planned deep drilling, a capital increase should also take place, which was carried out after some delay in September 2010 through the placement of new shares worth 70 billion dollars. At that time, Petrobras was active in 27 countries. Uruguay, Turkey, at the end of 2013, the secured oil and gas reserves amounted to 15.973 billion BOE .

In 2014 the company posted a loss of 6.7 billion euros, followed by a loss of 8.6 billion euros in 2015, the worst result since the company was founded in 1953.

Operation Lava Jato

Favored by the politics of the so-called public champions , the Brazilian state and the group entered into a close relationship. The center-left governments in office since 2003 in particular increased government grants to private projects, which, according to observers, encouraged corruption.

In November 2014, several company directors were arrested as part of Operation Lava Jato . From this point on, she was unable to present a balance sheet for a time and was thus unable to act and unworthy of credit. The Odebrecht group carried out a number of projects for Petrobras. In October 2016, Eduardo Cunha , the former president of the Brazilian Chamber of Deputies , was arrested as one of the masterminds. In 2017, a further delay in the legal processing was foreseeable, when the advisor to the Supreme Court, who was responsible for cases of politicians with immunity and was supposed to decide on the admissibility of witness statements, had a fatal accident in a plane crash.

Companies

Petrobras oil pump (teaching model)

In 2017, Petrobras was one of the largest oil companies in the world with annual sales of approximately $ 88.8 billion. In the offshore -Promoting it was a technological leader and maintains one of the world's largest fleets of floating platforms. Brazil has been self-sufficient in crude oil since April 2006, but has to import light oil in order to blend its own heavy oil. In 2017, 2.767 million barrels of oil equivalent were produced daily .

Petrobras shares are traded on the New York Stock Exchange NYSE under the ticker symbols PBR and PBRA and on the Brazilian stock exchange Bovespa in Sao Paulo under the ticker symbols PETR3 and PETR4 . Despite a partial privatization, the majority of the shares are in the hands of the Brazilian government, which gives it a high degree of control and intervention. Although the Brazilian oil market has also been open to foreign investors since 1997, Petrobras is still the largest oil producer in the country and has a de facto monopoly on the country's oil supply.

Petrobras operates various plants for the production of bioethanol and, through Petrobras Distribuidora, maintains the largest network of petrol stations in the country with 7306 petrol stations and a further 1,173 petrol stations in Latin America.

Other business areas are petrochemicals with products such as paraffin , naphtha , urea and ammonia . Petrobras also has stakes in Braskem and is considered the largest producer of nitrogen fertilizers in Brazil. The subsidiary Transpetro operates a network of 15,000 km of pipelines, as well as its own tankers and terminals for the storage and transport of petroleum products and gas. Petrobras has interests in thermal power generation, wind and hydropower plants. Together, these systems deliver an output of 6,885 megawatts.

business development 
year Sales
in US $ million 		Balance sheet profit
in million US $ 		Price per share
in US $
2005 56,324 10,344 9.98
2006 72,347 12,826 17.03
2007 87,735 13,138 26.53
2008 118.257 18,879 40.07
2009 91,146 15.308 33.65
2010 120,452 20,055 33.47
2011 145.915 20.121 29.08
2012 144.103 11,034 21.68
2013 141,462 11.094 15.35
2014 143,657 −7,367 13.30
2015 97.314 −8,450 6.54
2016 81,405 −4,838 7.52
2017 88,827 −91 9.58

Refineries

Petrobras owns over fifteen refineries in Brazil and abroad. In the following, the most important refineries are listed with their maximum capacities or their average throughputs . The abbreviations in capital letters stand for the official abbreviations of the refineries as used by Petrobras.

Former President da Silva poses with some workers on the grounds of the Paulínia refinery

Others

An announced renaming of the company to "PetroBrax" was canceled after a controversial public discussion in 2000/2001. Critics feared increasing privatization after the state reference (-bras) would have been deleted from the company name.

Web links

Commons : Petrobras  - album with pictures, videos and audio files

Individual evidence

  1. ↑ petrobras.com.br: Our Executive Board. Petrobras, accessed April 14, 2019 .
  2. ↑ a b investidorpetrobras.com.br: FORM 20-F / ANNUAL REPORT. Petrobras, April 15, 2018, accessed June 11, 2018 .
  3. ↑ James D. Henderson, Helen Delpar, Maurice Philip Brungardt, Richard N. Weldon: A reference guide to Latin American history , p. 220. ISBN 1-56324-744-5 (English), accessed on October 2, 2010
  4. ↑ Sinking of the drilling rig (3sat) ( Memento of the original from September 30, 2007 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.3sat.de
  5. ↑ a b In the sea off Brazil: huge oil field found .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. In: Berliner Kurier , April 16, 2008@1@ 2Template: Dead Link / www.berlinonline.de  
  6. ↑ petrobras.com.br: Biofuel Production. Petrobras, accessed June 11, 2018 .
  7. ↑ Jornal do Brasil of March 7, 2009 (port.)  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , accessed March 7, 2009@1@ 2Template: Toter Link / jbonline.terra.com.br  
  8. ↑ online.wsj.com
  9. ↑ reuters.com
  10. ↑ en.mercopress.com
  11. ↑ english.peopledaily.com.cn
  12. ↑ nzherald.co.nz
  13. ↑ laht.com
  14. ↑ boerse-online.de
  15. ↑ nzz.ch
  16. ↑ Annual Report 2013 (Port.) (Relatório da Administração 2013), accessed August 3, 2014 (PDF)
  17. ↑ Petrobras loses billions , SPON, March 22, 2016
  18. ↑ André Cabette Fábio: Odebrecht Group: corruption to the end of the world . In: The time . April 14, 2017, ISSN  0044-2070 ( zeit.de [accessed April 19, 2019]).
  19. ↑ The scandal that will change Brazil , NZZ, November 18, 2014
  20. ↑ The plight of the oil company is having an impact on the economy , NZZ, February 26, 2015
  21. ↑ Eduardo Cunha arrested . In: Frankfurter Allgemeine Zeitung of October 21, 2016, p. 4.
  22. ^ Neue Zürcher Zeitung - Petrobras investigations are at stake , accessed on January 26, 2017.
  23. ↑ petrobras.com.br: Our Executive Board. Petrobras, March 15, 2018, accessed June 11, 2018 .
  24. ↑ Sustainability Report 2010 (port.) [1]  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (PDF), p. 83ff, accessed on October 23, 2011@1@ 2Template: Dead Link / www.petrobras.com.br  
  25. ↑ petrobras.com.br: Petrochemicals and Fertilizers. Accessed June 10, 2018 .
  26. ↑ petrobras.com.br: Transportation and Trade. Accessed June 10, 2018 .
  27. ↑ petrobras.com.br: Electric Energy Generation. Accessed June 10, 2018 .
  28. ↑ Petroleo Brasileiro- Petrobras Revenue 2006-2018 | PBR. Retrieved October 22, 2018 .
  29. ↑ bnamericas.com: Petrobras Changes Name to Petrobrax. Accessed June 10, 2018 .