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Petrobras is a big oil and gas company that finds, pumps, refines, and sells fuel, mostly from deep under the ocean off Brazil's coast.
Petrobras is Brazil's giant oil company. It pulls crude oil and natural gas out of the ground — much of it from deep offshore fields — then refines that oil into gasoline, diesel, and other fuels, and sells the fuels to drivers, airlines, factories, and other businesses. It also sells raw crude to buyers around the world. Think of it as a company that both digs the potatoes and runs the fry shop.
The business splits into a few clear parts. The biggest is exploring for and producing oil and gas, mostly offshore Brazil, where the company has world-class deepwater expertise. Another large piece is refining and selling fuels inside Brazil, where Petrobras dominates the market and sets the tone for prices at the pump. A smaller but growing piece is producing greener energy, including biofuels and renewable power. The Brazilian government is the controlling shareholder, which matters a lot — the company sits at the center of political fights over fuel prices, taxes, and how much it should invest. Money comes from selling oil and fuels, both at home and abroad. When oil prices are high, Petrobras gushes cash, and it uses that cash to pay famously large dividends, invest in new offshore projects, and chip away at its debt. The company also matters because it's one of Brazil's biggest taxpayers and employers. Recent years have brought big changes in leadership and strategy as governments have pushed different priorities, and the company is now balancing its oil bonanza with pressure to spend more on the energy transition.
Saved answer · last researched 18 Oct 2026
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