Brazil - Business and Economy.
Petrobrás is the largest Brazilian corporation.
Website: Petrobras in English.
Latest financial results: (warning: Petrobras faced trouble to present an audited financial report, and this impacted the accuracy of the data below for the years 2013 and 2014).
* Ranking among Brazilian corporations, by net revenue.
|Net Revenue **
|Exchange rate ***
|| R$ 2.04
|| R$ 2.34
|| R$ 2.65
|| R$ 3.90
|Inflation rate ****
** All financial results are expressed in millions of Brazilian Real R$ million.
*** Official exchange rates of US$ 1 on December 31st of each year, to be used for accounting purposes.
**** Official Consumer Prices Index.
See Official Investors Relations announcements by Petrobras.
Petrobras - Oil and gas business in Brazil - Latest News
Sector: Oil and Gas.
Main competitors in Brazil: Ultrapar; Raízen (former Royal Dutch Shell).
»September 2016: Petrobras announces cuts in investments; "the 2017-2021 business plan focuses on accelerating debt reduction and retreating from peripheral businesses such as biofuels, fertilizers and petrochemicals to focus on the most profitable project in deep waters"; the debt grew too much too fast, and the company is now having to pay too much too high interests.
»June 2016: New Petrobras CEO: Pedro Parente. "The government will no longer determine fuel price levels"; "Petrobras can't explore pre-salt alone".
»March 2016: Petrobras posts yet another record loss after booking a large writedown for oil fields and other assets as oil prices slumped and refinery projects faltered.
»April 2015: Petrobras posts record loss of R$ 21.6 billion, for the year 2014. In 2013, there was a profit of R$ 23.6 billion. The last year Petrobras had posted a loss had been in 1991, - R$ 1.2 billion, inflation adjusted.
»:November 2014: Ex-manager and ex-Director are arrested; the ex-manager, Pedro Barusco, agreed with returning US$ 100 million in corruption briberies he collected over the years.
»October 2014:President Dilma admits corruption. Until then, Dilma had said that accusations of corruption in Petrobras were "lies and intrigues".
»February 2014: Petrobras profits in 2013: the company net profit in 2013 was R$ 23,6 billion, up 11% from previous year.
Petrobras - History and Facts
When World War II ecloded, Brazil was ruled by a shrewd Dictator, Getulio Vargas.
Vargas was pending (or pretending so) between joining the Allies or the Axis (the Brazilian Constitution of 1937 was based on principles of the Fascism).
To convince Vargas, Roosevelt visits Brazil in 1943; Vargas agrees with authorizing Natal, a small city in the Northeast of Brazil, to become an Ally basis. Smart Vargas, of course, imposes condition$$.
The first steel plant in Brazil, CSN, started operating in 1941, much due to American funding. The first mining company (which would provide iron ore do the steel plant), Vale do Rio Doce, in 1942. And the Brazilian vehicles industry was already set to grow. Brazil then needed fuel.
In 1945, Vargas is ousted. In 1950, this time by popular vote, he is elected President(!). In 1954, pressed by charges of corruption, he commits suicide.
In 1933, Standard Oil first discovered oil in Saudi Arabia; soon, American oil companies were making loads of cash in the Middle East.
To study Brazil, companies sent geologists who, based on their technical expertise, saw no reason to risk money in the country. The most popular writer in Brazil, Monteiro Lobato, saw injury in the study, and started a campaign: o petróleo é nosso (the oil is ours).
Back in office, Vargas declared: if the gringoes don't want to explore oil in Brazil, we will do it!
In 1953, by law, Petrobras was created.
Since then, to criticize Petrobras is the same as criticize Vargas and Brazilian competence.