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Brazil Business Location

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Submitted By ryuk2120
Words 1224
Pages 5
Jeff Garcia 10 AM

Product/Service of Business:
Petrobras is the fourth largest company in the world and the largest in the Southern Hemisphere. It has control over significant oil and energy assets in 18 countries in Africa, North America, South America, Europe and Asia. It carries 11.7 billion barrels of oil making it the fourth biggest oil reserves among petrochemical companies. This is before the recent discoveries in four new locations. Petrobras sponsors a few things: The Ministry of Mines and Energy's National Program for the Oil Products and Natural Gas Use Rationalization. These programs promote the development of a no waste culture in the use of nonrenewable natural resources and encourage efficiency in energy use in many sectors. These programs have developed environmental education actions but they emphasized on the efficiency on transport, residencies, and industries. One of the major companies of Petrobras is Petrobras Transporte S.A. which is the largest oil and gas transportation company of Brazil.

History of Business:
Petrobras was founded in 1953 by Getúlio Vargas because of the economic crisis created by pro-US Dutra. The way this was fixed was by creating a nationalist policy. This policy caused the usage and increase in the country natural resources and to stray away from foreign dependency. Vargas served as Brazil’s president and later dictator from 1930 to 1945. The company was founded when Vargas was democratically elected during his second presidency in which started in 1951. Petrobras was created in 1953 but it wasn’t installed until 1954. It inherited two refineries. This also happens to be the same year Vargas committed suicide due to political problems he felt was out of his control. In 1973 Petrobras faced its first oil crisis. The crisis affected the country as a whole, and it almost made the company face

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