Petróleo Brasileiro S.A. – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.
Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast. Beyond upstream hydrocarbons, the company operates refineries and petrochemical facilities, provides fuel distribution and retail services, and is involved in natural gas processing, shipping and trading. Petrobras also invests in research and technological development to support challenging offshore operations and to improve efficiency across its operations.
While Petrobras’s operations are concentrated in Brazil, the company has conducted exploration, production and commercial activities in selected international markets and maintains commercial and operational partnerships abroad. In recent years Petrobras has pursued portfolio optimization through divestments and strategic partnerships to focus on core assets and enhance operational efficiency.
As a majority state-owned enterprise, Petrobras is influenced by public policy and governance considerations. The company implemented a series of governance and compliance reforms following high-profile investigations in the mid-2010s, and it has signaled evolving priorities that include natural gas expansion, biofuels and investments aimed at reducing carbon intensity. Petrobras remains a central institution in Brazil’s energy landscape, supplying fuels and energy-related products to domestic and international customers.