Rio de Janeiro (17)


Source: WTL photograph© on site in Rio de Janeiro.
Comment: Here we see the Petrobras building, one of the 50 largest companies in the world. Petrobras (Petróleo Brasileiro, S.A.) is Brazil's semi-public energy company whose headquarters are here in Rio de Janeiro. From 1953 to 1997, Petrobras was an oil monopoly. This company produces over 2,000,000 barrels of oil per day, and it distributes petroleum products; in addition it owns oil refineries and oil tankers, and it is a leader in advanced oil production deep in the ocean floors. Petrobras's total assets are more the $133,000,000,000. With such financial power, Petrobras is also Brazil's largest supporter of the humanities including Brazilian ecological initiatives. In 2005, Petrobras joined forces with Japan's Nippon Alcohol Hanbai for Brazil to export ethanol to Japan. In 2006, Brazil officially announced that it is self-sufficient in terms of petroleum production and use. For more on recent developments related to Petrobras, see: => Brazil country notes.