Petrobras, formally known as Petróleo Brasileiro S.A., is a state-controlled integrated energy company headquartered in Rio de Janeiro, Brazil. Established in 1953, the company engages in all aspects of the oil, natural gas and energy value chain. Its primary operations encompass upstream exploration and production, where Petrobras focuses on developing both onshore and offshore oil fields—most notably its deepwater and ultra-deepwater pre-salt reserves off the Brazilian coast.
In the upstream segment, Petrobras leverages advanced technologies for seismic surveys, drilling and reservoir management to optimize recovery rates. The company operates production platforms, floating production, storage and offloading vessels, and subsea systems. Its extensive research and development facilities, including the Center for Research and Development in Rio de Janeiro (Cenpes), support innovation in drilling techniques, enhanced oil recovery and environmental stewardship.
Downstream activities include refining, transportation, distribution and marketing of petroleum derivatives. Petrobras’s refining network consists of major refineries strategically located across Brazil, supplying fuels, lubricants and petrochemicals to both domestic and international markets. The company also maintains a nationwide distribution infrastructure—pipelines, terminals and service stations—under the BR brand, and is increasingly investing in natural gas processing, biofuels production and renewable energy projects, such as offshore wind and solar initiatives.
Over its seven decades of operation, Petrobras has grown into one of Latin America’s largest energy enterprises, with a presence in North America, Africa and Asia. The Brazilian federal government remains its principal shareholder, appointing senior leadership and guiding strategic priorities. Under the stewardship of CEO Jean Paul Prates and a board of directors focused on governance, Petrobras continues to navigate market challenges, strengthen its balance sheet and advance sustainability goals while supplying energy to millions of consumers.