Petrobras

Petrobras (NYSE:PBR), short for Petróleo Brasileiro S.A., is a Brazilian oil company headquartered in Rio de Janeiro. The company was founded in 1953 mainly due to the efforts of the Brazilian President Getúlio Vargas. While the company ceased to be Brazil's oil monopoly in the late 1990s, it remains a significant oil producer, with output of more than 2 million barrels of oil equivalent per day, as well as a major distributor of oil products. The company also owns oil refineries and oil tankers. Petrobras is renowned for its development of advanced technology from deepwater and ultra-deep water oil production. Roughly 30% of Petrobras' stock is owned by the Brazilian government, however privately held portions are traded on Bovespa, where it is part of the Ibovespa index.

Related Topics:
Brazil - Oil - Rio de Janeiro - 1953 - Getúlio Vargas - Bovespa - Ibovespa

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