Petroleo Brasileiro S.A. - Petrobras
Explore Petroleo Brasileiro S.A. - Petrobras
Core profile pages, annual revenue records, and related research hubs for this company.
Petroleo Brasileiro S.A. - Petrobras
Explore Petroleo Brasileiro S.A. - Petrobras
Core profile pages, annual revenue records, and related research hubs for this company.
Company History
Founded 1953 in Rio de Janeiro, Brazil
Petrobras was created in 1953 after Brazil national oil campaign argued that petroleum should be developed under national control. The company grew from a domestic state enterprise into one of the world most important deepwater operators.
Getúlio Dornelles Vargas was a Brazilian lawyer and politician who served as President of Brazil from 1930 to 1945 and again from 1951 until his suicide in 1954. Operating during a period of intense nationalist sentiment and economic protectionism, Vargas recognized the strategic importance of domestic oil production for Brazil's industrialization and national security. His decision to champion the 'O Petróleo é Nosso' (The Oil is Ours) campaign was a pivotal moment in Brazilian history, as it mobilized the public and the military to support the creation of a state-owned oil monopoly, overriding the opposition from liberal economists and foreign oil companies. The signing of Law 2,004 on October 3, 1953, which established Petrobras, was the culmination of this campaign and represented a fundamental shift in Brazil's economic policy, from one of reliance on foreign capital to one of state-led development. Vargas's legacy is the creation of a powerful state-owned enterprise that would become the engine of Brazil's industrialization and the source of the country's vast oil wealth, a legacy that continues to shape the company's strategic direction and its relationship with the federal government today.
Henrique Alberto da Costa Lage was a Brazilian engineer and industrialist who is widely considered the father of the Brazilian oil industry. Operating during the early 20th century, when the global oil market was dominated by foreign majors like Standard Oil and Royal Dutch Shell, Lage recognized the potential for domestic oil production in Brazil and invested heavily in the construction of the country's first oil refinery in the state of Bahia. His decision to challenge the foreign monopoly was a bold move that attracted the attention of the international oil companies, who responded by launching a price war that ultimately forced Lage to sell his assets to Standard Oil in 1928. Despite this setback, Lage's early geological surveys in the Recôncavo basin provided the initial proof of concept that Brazil possessed commercial oil reserves, and his advocacy for a national oil policy influenced the subsequent generation of Brazilian leaders, including Getúlio Vargas. Lage's legacy is the inspiration he provided for the 'O Petróleo é Nosso' campaign and the creation of Petrobras, a legacy that is honored by the company's continued focus on domestic oil production and technological self-sufficiency.
Brazil created Petrobras as a national oil company.
Offshore discoveries helped establish Petrobras deepwater direction.
Petrobras listed ADRs on the New York Stock Exchange.
Major pre-salt discoveries transformed Petrobras resource base.
The Lava Jato scandal reshaped governance, reputation, and capital discipline.
Petrobras reported 3.0 mmboed total oil and gas production against a 2.8 mmboed goal.
Petrobras filed its FY2025 annual report and Form 20-F in April 2026.
Petrobras acquired a 50 percent stake in the Bahia Wind Complex, a 1.2 gigawatt offshore wind farm, to complement its thermoelectric portfolio and provide a comprehensive low-carbon energy offering that can compete with the integrated energy companies like Shell and BP.
Petrobras acquired the biogas assets of Biogas Brazil, a developer of landfill and agricultural waste-to-energy facilities, to secure rights to 1.2 million cubic meters of annual biogas production, a critical technology for the company's decarbonization strategy.
Petrobras exercised its right of first refusal to acquire a 15 percent additional working interest in the Búzios field, the largest pre-salt accumulation in the Santos basin, increasing its total working interest to 85 percent and securing its long-term production growth.
Petrobras is a Brazilian integrated oil and gas company headquartered in Rio de Janeiro, Brazil. It reported $89.20B of FY2025 revenue.
Petrobras reported $89.195 billion of revenue for FY2025.
Yes. Petrobras reported $19.634 billion attributable to Petrobras shareholders for FY2025.
Magda Chambriard is the current CEO of Petrobras.