Petróleo Brasileiro SA, commonly known as Petrobras, operates oil and gas fields, pipeline systems, petroleum refineries, fuel stations, petrochemical plants, biofuel plants, and natural gas distribution lines. Operations are organized into five business units: Exploration & Production (E&P); Refining, Transportation, & Marketing (RTM); Gas & Power; Distribution; and Biofuel. The company is controlled by the Brazilian government with shares listed on the B3 (PETR) exchange and depositary receipts on the NYSE (PBR), and BMAD exchanges.
Petrobras was created in 1953 and given legal monopoly over oil and gas production. In 1963, it opened the Cenpes research center in Rio de Janeiro. In 1997, a new law created the Agência Nacional do Petróleo (ANP), responsible for the regulation and supervision of the petroleum industry. ANP was allowed to grant production licenses to operators other than Petrobras, ending the monopoly in 1999. In 2002, the company acquired Perez Companc Energía (Pecom), based in Argentina. The company acquired Esso's assets in Chile from ExxonMobil. In April 2021, former defense minister Joaquim Silva e Luna replaced Roberto Castello Branco as CEO.