# PETROBRAS - PETROLEO BRASILEIRO SA

Summary updated: 2026-09-28T11:51:20.272447Z
Canonical: https://finbar.com/research/companies/petrobras-petroleo-brasileiro-sa

## Overview

Petróleo Brasileiro S.A. (Petrobras) is a Brazilian, partially state-owned integrated energy company founded in 1953. Its core business spans oil and natural gas exploration and production, refining, transportation and marketing, alongside natural gas and lower-carbon energy activities. Its operations are centered in Brazil, particularly offshore oil and gas production, with additional international activities and partnerships. [1](https://sustentabilidade.petrobras.com.br/en/w/quem-somos-2)[2](https://www.sec.gov/Archives/edgar/data/1119639/000129281425001352/pbrform20f_2024.htm)

Petrobras describes its purpose as providing energy that supports prosperity in an ethical, fair, safe and competitive manner. It reported US$91.4 billion in consolidated sales revenue in 2024 and approximately 49,200 employees, including subsidiaries, at year-end. [3](https://sustentabilidade.petrobras.com.br/en/w/integridade-nos-negocios-1)[2](https://www.sec.gov/Archives/edgar/data/1119639/000129281425001352/pbrform20f_2024.htm)
[1](https://sustentabilidade.petrobras.com.br/en/w/quem-somos-2)[2](https://www.sec.gov/Archives/edgar/data/1119639/000129281425001352/pbrform20f_2024.htm)[3](https://sustentabilidade.petrobras.com.br/en/w/integridade-nos-negocios-1)

## Products & services

Petrobras sells crude oil and a range of refined products, including automotive diesel and gasoline, liquefied petroleum gas (LPG), aviation fuels, naphtha, fuel oil, asphalt, lubricating base oils and petroleum coke. Its diesel grades include S-10 and S-500, named for sulfur limits of 10 and 500 parts per million, respectively. S-10 accounted for 64.4% of Petrobras’s diesel sales in 2024; that figure is a share of diesel sales, not of total company sales. [4](https://app.finbar.com/go?id=P150836481)[5](https://app.finbar.com/go?id=P150836524)[6](https://petrobras.com.br/quem-somos/oleo-diesel)

The products serve distinct uses: LPG, principally propane and butane, is sold mainly in cylinders for household cooking; naphtha is a feedstock for petrochemical plants; jet fuel serves commercial aviation; and fuel oil is used mainly by industry. Petrobras also offers aviation gasoline for piston-engine aircraft, marine bunker fuels, and conventional and specialized petroleum asphalt. Its lower-carbon-content fuel offerings include Diesel R, made by co-processing petroleum with renewable feedstocks, and VLS B24 marine fuel, a blend of 76% mineral bunker fuel and 24% biodiesel by volume. [7](https://app.finbar.com/go?id=P150836530)[8](https://app.finbar.com/go?id=P150836532)[9](https://app.finbar.com/go?id=P150836534)[10](https://app.finbar.com/go?id=P150836538)[11](https://petrobras.com.br/quem-somos/gasolina-de-aviacao)[12](https://petrobras.com.br/quem-somos/bunker)[13](https://petrobras.com.br/quem-somos/cap-pro)[14](https://petrobras.com.br/quem-somos/diesel-r5)[15](https://petrobras.com.br/quem-somos/bunker-vls-b24)

Beyond liquid fuels, Petrobras markets natural gas and electricity and provides associated gas-processing, LNG trading and transport, and thermoelectric-generation services. For fuel and other product customers, it offers technical assistance on product use, handling and storage. [16](https://app.finbar.com/go?id=P150835578)[17](https://petrobras.com.br/quem-somos/assistencia-tecnica)
[4](https://app.finbar.com/go?id=P150836481)[5](https://app.finbar.com/go?id=P150836524)[7](https://app.finbar.com/go?id=P150836530)[8](https://app.finbar.com/go?id=P150836532)[9](https://app.finbar.com/go?id=P150836534)[10](https://app.finbar.com/go?id=P150836538)[16](https://app.finbar.com/go?id=P150835578)[6](https://petrobras.com.br/quem-somos/oleo-diesel)[11](https://petrobras.com.br/quem-somos/gasolina-de-aviacao)[12](https://petrobras.com.br/quem-somos/bunker)[13](https://petrobras.com.br/quem-somos/cap-pro)[14](https://petrobras.com.br/quem-somos/diesel-r5)[15](https://petrobras.com.br/quem-somos/bunker-vls-b24)[17](https://petrobras.com.br/quem-somos/assistencia-tecnica)

## Geographic presence

Petrobras is headquartered in Rio de Janeiro, and its operations are centered in Brazil. Its offshore oil production is concentrated in the Santos and Campos basins, while its refineries serve markets across the country, including the Southeast, South, North and Northeast. [18](https://app.finbar.com/go?id=P150840342)[19](https://app.finbar.com/go?id=P150844191)[20](https://www.sec.gov/Archives/edgar/data/1119639/000129281426002168/pbrform20f_2025.htm)

Brazil was also its largest sales market: in 2025, domestic sales were US$62.9 billion, or about 70.6% of total sales revenue. Exports from Brazil were US$25.6 billion, and sales abroad were US$0.7 billion. China was the largest individually identified destination within its foreign-market sales, at US$9.7 billion; other destinations included the United States, Singapore, Europe and elsewhere in Asia and the Americas. [20](https://www.sec.gov/Archives/edgar/data/1119639/000129281426002168/pbrform20f_2025.htm)

Beyond Brazil, Petrobras reported activities in Argentina, Bolivia, Colombia, the United States, the Netherlands, São Tomé and Príncipe, Singapore and South Africa in 2025. Its international presence includes upstream interests and trading and financial activities. Its workforce remained predominantly Brazilian: of 43,199 employees reported separately from subsidiaries and certain other entities, 36,079 were in Southeastern Brazil, 4,506 in Northeastern Brazil and 2,614 elsewhere in the country. Subsidiaries employed a further 614 people abroad. [21](https://app.finbar.com/go?id=P150840512)[22](https://app.finbar.com/go?id=P150840513)[20](https://www.sec.gov/Archives/edgar/data/1119639/000129281426002168/pbrform20f_2025.htm)
[18](https://app.finbar.com/go?id=P150840342)[19](https://app.finbar.com/go?id=P150844191)[21](https://app.finbar.com/go?id=P150840512)[22](https://app.finbar.com/go?id=P150840513)[20](https://www.sec.gov/Archives/edgar/data/1119639/000129281426002168/pbrform20f_2025.htm)

## Business segments

Petrobras reports three operating segments: Exploration and Production (E&P), Refining, Transportation & Marketing (RT&M), and Gas and Low Carbon Energies (G&LCE), alongside a corporate and other businesses category. E&P explores for, develops and produces crude oil, natural gas liquids and natural gas. RT&M encompasses refining, oil logistics and transport, crude-oil acquisition and exports, oil-product trading, petrochemicals and fertilizer production. G&LCE covers natural-gas and electricity logistics and trading, LNG transport and trading, gas processing, thermoelectric generation, renewable energy, low-carbon services and biodiesel production. [23](https://app.finbar.com/go?id=P150835575)[24](https://app.finbar.com/go?id=P150835596)[16](https://app.finbar.com/go?id=P150835578)[25](https://app.finbar.com/go?id=P150838899)

In 2024, RT&M generated approximately 92% of third-party sales, G&LCE 7%, and E&P and corporate and other businesses less than 1% each. This external-sales mix understates E&P’s operating scale because most of its sales are to other Petrobras segments: E&P reported $60.5 billion in segment sales, of which $60.2 billion was intersegment, compared with $85.3 billion in RT&M segment sales. Intersegment sales are eliminated in consolidated revenue. [25](https://app.finbar.com/go?id=P150838899)
[23](https://app.finbar.com/go?id=P150835575)[24](https://app.finbar.com/go?id=P150835596)[16](https://app.finbar.com/go?id=P150835578)[25](https://app.finbar.com/go?id=P150838899)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)[26](https://app.finbar.com/go?id=T17301975)

## Company history

Petrobras was created in 1953 under Brazilian law as the state oil company. It discovered oil offshore at Guaricema in 1968 and established Braspetro in 1972 to pursue activities abroad. The discovery of Garoupa in 1974 helped establish the Campos Basin as a major area for exploration; production there began at Enchova in 1977. [27](http://www.planalto.gov.br/ccivil_03/leis/l2004.htm)[28](https://agencia.petrobras.com.br/documents/10623376/11260110/linha-do-tempo-petrobras-v2.pdf/57103acb-738c-3d13-ab8f-78c5ef8801d1?download=false)

Brazil’s 1997 Petroleum Law opened oil-sector activities to other operators, ending Petrobras’s exclusive operating role. A pre-salt discovery at Tupi in 2006, announced in 2007, marked a new phase of offshore development. Petrobras completed a major share offering in 2010 to support its investment program. Beginning in 2014, the Operation Car Wash investigation exposed corruption involving Petrobras and became a significant episode in its corporate history. [29](http://www.planalto.gov.br/ccivil_03/leis/l9478compilado.htm)[30](https://www.sec.gov/Archives/edgar/data/1119639/000129281407003136/pbra20071108_6k.htm)[31](https://www.sec.gov/Archives/edgar/data/1119639/000129281410003057/pbra20100930_6k.htm)[32](https://petrobras.com.br/documents/2677942/9212069/Demonstracoes%20Auditadas%202014%20.pdf?download=true)
[27](http://www.planalto.gov.br/ccivil_03/leis/l2004.htm)[28](https://agencia.petrobras.com.br/documents/10623376/11260110/linha-do-tempo-petrobras-v2.pdf/57103acb-738c-3d13-ab8f-78c5ef8801d1?download=false)[29](http://www.planalto.gov.br/ccivil_03/leis/l9478compilado.htm)[30](https://www.sec.gov/Archives/edgar/data/1119639/000129281407003136/pbra20071108_6k.htm)[31](https://www.sec.gov/Archives/edgar/data/1119639/000129281410003057/pbra20100930_6k.htm)[32](https://petrobras.com.br/documents/2677942/9212069/Demonstracoes%20Auditadas%202014%20.pdf?download=true)

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4. [PETROBRAS - PETROLEO BRASILEIRO SA — Full financial report (2024 Y)](https://app.finbar.com/go?id=P150836481)
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7. [PETROBRAS - PETROLEO BRASILEIRO SA — Full financial report (2024 Y)](https://app.finbar.com/go?id=P150836530)
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21. [PETROBRAS - PETROLEO BRASILEIRO SA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150840512)
22. [PETROBRAS - PETROLEO BRASILEIRO SA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150840513)
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25. [PETROBRAS - PETROLEO BRASILEIRO SA — Full financial report (2024 Y)](https://app.finbar.com/go?id=P150838899)
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