Petrobras, short for Petróleo Brasileiro S.A., is a semi-public Brazilian multinational energy company headquartered in Rio de Janeiro. It is the largest company in Latin America by market capitalization and revenue, and the largest company headquartered in the Southern Hemisphere. The company was founded in 1953, mainly due to the efforts of Brazilian President Getúlio Vargas. While the company ceased to be Brazil's legal monopolist in the oil industry in 1997, it remains a significant oil producer, with output of more than 2 million barrels of oil equivalent per day, as well as a major distributor of oil products.
The company also owns oil refineries and oil tankers. Petrobras is a world leader in development of advanced technology from deep-water and ultra-deep water oil production.
Newly completed Petrobras 56 leaving shipyard.
Brasfels, Angra dos Reis, Brazil, June 2011