Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras (Portuguese pronunciation: [ˌpɛtɾoˈbɾas, pet-]), is a state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil.

[10] Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan "The Oil is Ours" (Portuguese: "O petróleo é nosso").

[18] In 1997, the government approved Law N.9.478, which broke Petrobras's monopoly and allowed competition in Brazil's oilfields, and also created the national petroleum agency, Agência Nacional do Petróleo (ANP), responsible for the regulation and supervision of the petroleum industry, and the National Council of Energy Policies, a public agency responsible for developing public energy policy.

[20] In 2000, Petrobras set a world record for oil exploration in deep waters, reaching a depth of 1,877 metres (6,158 ft) below sea level.

[12] During the administration of the Workers' Party in the 2010s, Petrobras spent an estimated $40 billion subsidizing motor fuels, causing it to become the world's most indebted oil company.

[26] In summer 2023, Petrobras entered into a 5-year agreement with Weatherford International for providing intervention services offshore Brazil.

[27] Also in 2023, Petrobras announced the resumption of construction of a new production line at the Abreu e Lima refinery in Ipojuca, Pernambuco, Brazil.

The entire country was affected, and the "Brazilian miracle", a period when annual GDP growth exceeded 10%, ended.

Petrobras did not provide a reason but the New Zealand Prime Minister John Key said the decision was "not a reflection on the capacity to undertake deep-sea drilling or the prospect of activity of that area".

[45] In September 2013, Petrobras sold eleven onshore exploration and production blocks in Colombia to Perenco for US$380 million.

The information was based on a top secret NSA file provided to Guardian journalist Glenn Greenwald by Edward Snowden as part of the Global surveillance disclosures.

The file showed that Petrobras was one of several targets for the NSA's Blackpearl program, which extricates data from private networks.

[49] Also in 2014, Petrobras set a new company record for average daily production of 2.863 million barrels of oil equivalent (17,520,000 GJ).

[50] In January 2017, the company concluded the sale of 100 percent of Petrobras Chile Distribuición Ltda (PCD) to the Southern Cross Group.

[51] In January 2020, Petroleo Brasileiro stated that it ended all of its business in Africa after completing the sale of a 50% stake in Petrobras Oil & Gas BV.

[54] Operation Car Wash (Portuguese: Operação Lava Jato) was a criminal investigation by the Federal Police of Brazil's Curitiba branch.

[59][60] Between 2014 and February 2016, the Federal Public Prosecutor's Office (Portuguese: Ministério Público da União) filed 37 criminal charges against 179 people, mostly politicians and businessmen.

[64] Eduardo Cunha, president of the Chamber of Deputies from 2015 to 2016, was convicted of taking approximately $40 million in bribes and hiding funds in secret bank accounts and sentenced to 15 years in prison.

[68] The Bill and Melinda Gates Foundation sued Petrobras and its auditors, PriceWaterhouseCoopers as a result of the corruption scandal.

[72] On 1 February 2023 The company informs that received the amount of R $132 million, as victim-beneficiary of the award-winning collaboration agreement signed between the Federal Prosecutor's Office and Rogério Santos de Araújo, before the Supreme Court.

[74] Most notably, Petrobras has sponsored population studies and conservation efforts for humpback whales in northeast Brazil.

[75] Petrobras subscribes to the United Nations Global Compact, a voluntary agreement regarding human rights, working conditions, corruption, and the environment.