Petrobras – Company Overview
|Company||Petrobras (Petróleo Brasileiro S.A.)|
|Headquarters||Rio de Janeiro, Brazil|
|CFO||Ivan de Souza Monteiro|
|Founder||President Getúlio Vargas|
|Founded||October 3, 1953|
|Stock symbol||Bovespa: PETR3,PETR4 – NYSE: PBR, PBRA – BMAD: XPBR, XPBRA -BCBA: APBR|
|Sales revenue||$97,314 million USD (2015)|
|Gross profit||$29,829 million USD (2015)|
|Net loss||$(8,611) million USD (2015)|
|IR contact number||(+5521) 3224-1510 / 3224-9947|
|IR email address||[email protected]|
Petrobras, also known as Petróleo Brasileiro S.A., is a Brazilian multinational energy company based in Rio de Janeiro. It is the largest company in Brazil, the largest company in Latin America, and the 7th largest energy company in the world.
The company was created in 1953 under president Getúlio Vargas. For decades Petrobras was essentially a monopoly – being the only company to explore for oil in Brazil. However, in 1997 the Brazilian government allowed other foreign and domestic companies to compete with Petrobras.
In 2010 the company sold US$72.8 billion worth of shares on the BM&F Bovespa stock exchange – a record shares sale.
Petrobras once owned the world’s largest oil platform – the Petrobras 36 Oil Platform – but in 2001 the platform exploded and sunk. In 2007 the company inaugurated their Petrobras 52 Oil Platform – the third biggest oil platform in the world.
Over three quarters of Brazilian oil production occurs at the company’s oil field in the Campos Basin.
Petrobras – Business Focus
Petrobras is active in every aspect of the oil and gas industry. It’s main operations include: oil and gas exploration and production, oil and gas refining, biofuel production, product distribution, generation of electric energy, and transportation and trade.
The company produces more than 2 million barrels of oil products per day, with 16 refineries in Brazil, the US, and Japan. It has a network of more than 30,000 kilometers of oil and gas pipelines.
Petrobras – Financial Results
|Key figures (in millions USD)||2015*||2014*|
|Net income (loss)||(8,611)||(7,503)|
|Cash and cash equivalents at beginning of period||16,655||15,868|
|Cash and cash equivalents at end of period||25,058||16,655|
*Years ended December 31, 2015 and 2014
Source: “Petrobras – 2015 Form 20-F”