Petrobras - Statistics & Facts

Petrobras is one of the largest oil and gas companies in the world, in addition to being one of the largest companies in general. With its headquarters in Rio de Janeiro, Brazil, it is also one of the top companies in Latin America. Petrobras was established in 1953 under government support, but in the next year faced opposition from the newly implemented government party. From 1954 to 1997, Petrobras held a monopoly over the oil industry in Brazil. During that time, refining, exploration, and production of the nation’s oil resources consisted of their main operations.

The number of Petrobras employees grew between 2009 and 2013, but dropped significantly from 2014 to 2017. Currently, oil reserves located in Brazil are among Petrobras' most important assets. Petrobras 36, located on the Roncador Oil field, was the world’s largest floating semi-submersible platform until March 2001 when the rig sank. The company holds operations in 24 countries around the world in addition to Brazil.

In 2014, Petrobras was involved with what was considered one of the largest scandals in Brazil’s history. Under an investigation named “Operation Car Wash”, prominent politicians and businessmen were charged in regards to corruption and money laundering. Charges were made to Petrobras’ executives in their involvement in bribes and illegal donations to political parties. Since the scandal, PricewaterhouseCoopers, the company’s auditing company, declined to certify the company’s accounts and the company’s assets have declined significantly. The corruption was estimated to have cost the company 7.2 billion U.S. dollars and was also charged two billion U.S. dollars in costs related to corruption.

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Petrobras

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