Petrobras, also known as Petrobras, was founded on October 3, 1953Petrobras, is apetroleumAs the main body, upstream and downstream integrationTransnational operationNational Petroleum Corporation.At that time, Decree No. 2004 announced that Brazil's oil industry began in the late 19th century.In 1917, the state-owned enterprise Petrobras was monopolized by the state. Petrobras not only participated in the formulation and implementation of oil policies, but also took charge of the exploration, development, production, transportation and business management of Petrobrasstate-owned enterprise。
In March 2015, Petrobras was involved in a large-scale corruption and bribery case. The prosecutor has asked for a new investigation of 28 people, involving 54 political figures with immunity.
On May 13, 2020, Petrobras ranked 70th on the 2020 Forbes Global 2000.[1-2]
In 1997, the Brazilian government issued Decree No. 9478, which stipulated that since August 6, 1997, the oil management should be separated from the government and enterprises. The Brazilian Ministry of Mines and Energy added the Brazilian National Petroleum Administration (Agencia Nacional do Petroleo-ANP), which is responsible for the formulation of Brazilian oil policies and industry supervision and management.Petrobras implements enterprise independent operation in accordance with the law of market economy, and all its original resources and assets for exploration, development and production are reclassified toPetrobras。The law stipulates that Petrobras is 50% controlled by the federal government, and the federal government accounts for 51% of the original shares of the registered capital (the registered capital is divided into original shares with voting rights and preferred shares without voting rights).The announcement of Decree No. 9478 broke the situation that Petrobras is dominated by Petrobras. The subsidiaries of Petrobras can have joint ventures with domestic or foreign enterprises, and foreign oil companies have successively entered Brazil.
The Brazilian Petroleum Administration adopts the method of bidding for the exploration, development and production of new oil fields, and Petrobras and other companies can participate in the bidding.However, the law stipulates that Petrobras can sign contracts of equal priority in the form of invitation letter when participating in the bidding, provided that the price of the equipment, materials and services to be tendered is guaranteed and the supply is promised.Petrobras has simplified its bidding procedures for required equipment, materials and services for its own business needs.As Petrobras occupies most of Brazil's onshore and offshore oil and gas fields, its years of operation have made Petrobras the leader in various industries in Brazil and the largest oil backbone enterprise in Brazil.In 2002, it ranked 214 among the world's top 500 listed by the Financial Times (only two Brazilians entered the top 500, and the other wasVale）。[3]
Historical development
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Brazil's oil industry began in the late 19th century.In October 1953, the Brazilian government announced the nationalization of the oil industry, which stipulated that oil resources were owned by the state. In May 1954, Petrobras, a state-owned enterprise integrating government and enterprise, was established. The company not only participated in the formulation and implementation of oil policies, but also took charge of the exploration, development, production, transportation and business management of Petrobras.[4]
In 1997, the Brazilian government announced the separation of the petroleum industry from the administration and the enterprise, and established the National Petroleum Administration（ANP）Responsible for the formulation of Brazilian oil policies and industry supervision and management.Petrobras, in accordance with the law of market economy, operates independently and obtains its resources assets for exploration, development and production. As a result, Petrobras occupies most of Brazil's onshore and offshore oil and gas fields. Its main business activities include oil exploration, production refining, transportation and sales.The company is headquartered in Rio de Janeiro, with a registered capital of R $13.372 billion.Relevant departments and institutions of the Brazilian federal government hold more than 51% of the shares of Petrobras.
Petrobras has 11.7 billion barrels of proven crude oil reserves, ranking fourth in the global oil industry.The company realized a profit of 21.5 billion reais (about 12.858 billion dollars) and became the most profitable enterprise in Latin America with an operating income of 96.3 billion dollars.According to the statistical report released by the Ministry of Industry and Trade of Brazil, Petrobras, Vale andEmbraerIn 2007, its export volume ranked among the top three in Brazil.Among them, the export volume of Petrobras reached 13.6 billion US dollars, an increase of 22.9% over the previous year.
In addition to domestic oil production, Petrobras also produces oil in Angola, Argentinabolivia, Colombia, Ecuador, the United States, Peru and Venezuela.The company's daily average oil output abroad is 122200 barrels, and the daily average natural gas output is 17260000 cubic meters.
On November 13, 2013,PetroChinaAccording to the announcement, PetroChina purchased all the shares of its Brazilian Energy Peru company from Petrobras through its subsidiaries, PetroChina Exploration and PetroChina Exploration International, at a price of about 2.6 billion US dollars.
Brasil Energy Peru owns three oil and gas blocks in Peru, holding 100% equity in two blocks and 46.16% equity in the other block.It is estimated that the total annual output of these three oil and gas blocks is about 800000 tons of oil equivalent.PetroChina said that the three oil and gas assets have good economic benefits, which is conducive to expanding the scale of oil and gas cooperation in Latin America and promoting the sustainable development of the Group's overseas business.PetroChina's acquisition must also be approved by relevant government departments.[5]
February 20, 2021 (Reuters), currentCEORoberto Castello Branco is favored by investors for his efforts to sell underperforming assets and reduce debt. However, in recent weeks, he has aroused the anger of Bolsonaro by raising fuel prices.ADR, a Brazilian oil company traded in New York, fell 8.9% in after hours trading, and its preferred shares listed in Brazil fell nearly 7% last Friday.BrazilPresident Borsonaro and the current CEO of Petrobras have been "at odds" over the recent rise in fuel prices.The President decided to change the head of the company and appoint a retired general as CEO.[6]
On March 28, 2022, Brazilian President Bosonaro announced that Adriano Pires, the founder of the Brazilian Infrastructure Center, was appointed to replace Joaquim Silva E Luna as the president of Petrobras.The appointment needs to be approved by the Board of Directors of Petrobras, which will make a decision on this issue on April 13.[13]
On April 6, 2022, the Ministry of Mines and Energy of Brazil announced that Jose Mauro Ferreira Coelho would be appointed President of Petrobras, and Marcio Andrade Weber would be appointed Chairman of the Board of Directors of Petrobras.[14]
On August 31, 2023, Jean Paul Prates, CEO of Petrobras, said that the company planned to set up a subsidiary in China as soon as next year.[21]
Current leaders
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Current CEO: Roberto Castello Branco[6]
President: Caio Paes de Andrade）[12][15-16]
Business involved
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Offshore development
Petrobras announced that fromNigeriaAgbami offshore oil field began to export crude oil.It is reported that the initial daily output of the oilfield is 100000 barrels, and by the end of 2009, the daily output of the oilfield is expected to rise to 250000 barrels.The field is owned by Petrobras and FranceTotal, USAChevronThe company cooperates in the development and each enjoys one third of the oil revenue.Since the discovery of Agbami offshore oil field in 1998, Petrobras has invested 2.2 billion dollars in Nigeria, and it will invest about 1.4 billion dollars in the next five years.
Petrobras said that it planned to invest another 15 billion dollars between 2008 and 2012 to establish joint ventures outside Brazil.The company has invested US $6.6 billion in 23 countries, includingAngolaArgentina, Peru, the United StatesVenezuelaOther countries have obtained 200000 barrels of crude oil per day.
PetrobrasCEOJos é Gabrielli, on June 10, 2012New YorkIt said that the company would invest 33.5 billion dollars to develop its offshore oil resources.The company has announced that in the five-year plan for 2008-2012, the annual capital expenditure will reach US $22.5 billion, and a total of US $112 billion will be invested in the exploration, development, processing and refining of crude oil. In 2012, its daily oil and gas production target will be 3.494 million barrels equivalent.
According to the plan, Petrobras' investment in China is 97.4 billion US dollars, accounting for 87% of the total investment;The amount of overseas investment is 15 billion US dollars, focusing on the oil exploration business in Latin America, the Gulf of Mexico and West Africa.
Petrobras won the oil and gas exploration rights of 22 blocks in the Gulf of Mexico through competitive bidding with a bid of US $179 million. These blocks are located in deep water areas, half of which are exclusively exploited by Petrobras, and the other half are jointly exploited by Petrobras and Devon Energy.
The United States is one of the priorities for Petrobras to expand its overseas business.According to the investment plan formulated by Petrobras, the company will invest 4.9 billion dollars in the United States in the next five years to expand its oil exploration and production business in the United States.
Industrial chain
Petrobras announced the discovery of oil fields off the coast of Brazil.CEO Gabrielli said that once these oilfields are developed, Petrobras intends to refine crude oil into diesel oil, naphtha and other refined oil products in Brazil, which is more cost-effective than exporting crude oil and importing refined oil products.
Petrobras disclosed that it plans to build two new refineries, which will have the capacity of processing 1 million barrels of crude oil per day after being put into operation in 2014, making the company second only toExxonMobilThe third largest oil refining enterprise in the world after Shell.
Gabrielli once said that Petrobras is seeking to acquire oil refining facilities in Japan and the United States. They hope to shift their business center in the future to selling more petroleum refining products rather than directly exporting crude oil, although the company may have discovered the largest offshore oil field in nearly three decades.
Petrobras has announced that it plans to invest another US $29.6 billion in the downstream industry (refining link) in the five years from 2008 to 2012, and expand its refining capacity by 50% to about 3 million barrels of crude oil per day.
Petrobras has made great efforts to strengthen cooperation with other Latin American oil companies in refinery construction. It will participate in the expansion of oil refineries in Uruguay and Paraguay, build a new refinery in Ecuador with a daily processing capacity of 300000 barrels, renovate the refineries in Cuba and Jamaica, and plan to build a large refinery in Nicaragua and Panama respectively.
In 2004, Petrobras set up a representative office in Beijing and signed a cooperation agreement with Sinopec.Petrobras mainly exports heavy oil from Campos Basin to China.In an email to reporters, Masero Castillo Dasreva, the chief representative of Petrobras in Beijing, said that as of May 2008, Petrobras had exported about 12 million barrels of crude oil to China, with a total value of 1.2 billion dollars.Masero said that Petrobras will further expand its business in China, but he did not disclose more details.
market value
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Petronas
On May 19, 2008, Microsoft's market value was 279.3 billion dollars, while Petrobras's market value reached 287.1 billion dollars on the same day, overtaking Microsoft at one stroke.
Petrobras is the company with the largest market value in Brazil. Its stock once rose to $71 per share. If investors bought Petrobras' stock price at the current price of $5 per share on June 30, 2005, and held it for three years, the investment income would exceed 1400%.[7]
UK《Financial Times》Among the 500 companies with the largest global market capitalization announced, Petrobras ranked 12th with US $208.3 billion.In fact, the market value of Petrobras had exceeded 311 billion US dollars on the day when the ranking was released, surpassing Gazprom, the fourth largest Russian company in the ranking.
Petrobras has discovered a giant oil field with reserves of 5 billion to 8 billion barrels - Tupi Oilfield, which is also one of the largest oil fields discovered in the world in the past 30 years, making the companySao PauloThe market value of New York and New York increased by 87%, becoming the third largest listed company in the Americas.
Honors won
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On July 19, 2018, the Fortune Global 500 list was released, and Petrobras ranked 73.[8]
On July 22, 2019, the Fortune Global 500 list was released, and Petrobras ranked 74th[9]。
On May 13, 2020, Petrobras ranked 70th on the 2020 Forbes Global 2000.[1-2]
On August 10, 2020, Petrobras ranked 120th in the Fortune Global 500 in 2020.[10]
In May 2021, Petrobras ranked No. 1 in the "2021 Forbes Global 2000"159 bits.[11]
In August 2022, it was listed in the Fortune Global 500 list in 2022, ranking 128.[17]
On December 9, 2022, it ranked 110 in the 2022 Hurun Global 500 with 711 billion yuan.[18]
In June 2023, it was selected into the list of Fortune Global 2000 Companies in 2023 released by Forbes, ranking 58th。[19]
In August 2023, with a revenue of 124474 (million dollars), he was listed in the Fortune Global 500 list in 2023, ranking 71st.[20]
