Petróleo Brasileiro S.A - Petrobras is one of the largest Brazilian companies and deals with the research, extraction, refining, transportation and sale of petroleum based in Rio de Janeiro.
It was founded in 1953 by the State with the aim of managing the activities of the oil sector on behalf of the Union, replacing the old National Petroleum Council (CNP). In May 2005 Evo Morales decided to nationalize the Bolivian gas and oil resources, which first hit Petrobras.
Among the world's top 15 oil companies, it has advanced technology for deep and ultra deep water drilling, with world depth records (2 km). Oil production for 2003 was more than 2 million barrels a day.