» History
	In October 1953, after Law 2.004 was passed, Petrobras’ was allowed to be incorporated to undertake oil sector activities in Brazil on behalf of the Union. Petróleo Brasileiro S/A - PETROBRAS commenced its activities with the collection it inherited from the old National Oil Council (Conselho Nacional do Petróleo, CNP), which, however, preserved its inspection function for the sector.

The oil exploration and production operations, as well as the remaining activities connected to the oil, natural gas, and derivative sector, except for wholesale distribution and retail via service stations, were a monopoly Petrobras held from 1954 to 1997. During this period, Petrobras became the leader in derivative marketing in Brazil, and, thanks to the company’s performance, it was awarded the Offshore Technology Conference (OTC) (*) in 1992, the most important award in the sector, one which it was granted again in 2001.

In 1997, Brazil, via Petrobras, entered the select group of 16 countries that produced more than a million barrels of oil per day. That same year, on August 6, president Fernando Henrique Cardoso sanctioned Law # 9.478, which opened the oil industry’s activities in Brazil to the private initiative.

Petrobras has been carrying intense exploratory work out and discovering new reservoirs in the blocks it was granted NPA’s concessions for in nearly all of the Brazilian sedimentary basins. Several new oil fields were discovered after the monopoly was broken, both in onshore basins, already in advanced exploratory conditions, and in the continental platform.

In 2003, coinciding with the celebration of its 50th anniversary, Petrobras doubled its daily oil & natural gas production, surpassing the 2,000,000 barrel per day mark, in Brazil and abroad.

On April 21 2006, President Luiz Inácio Lula da Silva kicked operations off at platform P-50, at the Albacora Leste Field, in the Campos Basin, leading the way for Brazil to reach oil self-sufficiency.

The company is currently present in 27 countries. In 2007, Petrobras was rated the world’s 7th biggest oil company with shares traded at stock exchanges, according to Petroleum Intelligence Weekly (PIW), a publication that divulges the ranking of the world’s 50 biggest and most important oil companies.

The renewal of Petrobras’ participation in Dow Jones’ Global Sustainability Index (DJSI) was also a highlight in 2007. The DJSI is considered the most important global sustainability index, and it is used as an analysis parameter by socially and environmentally responsible investors.

Petrobras started construction work for the Comperj Integration Center, in São Gonçalo, in 2007 as well. Investments in the Rio de Janeiro Petrochemical Complex are expected to top-out at $8.38 billion. With operations foreseen to go online in 2012, the Comperj will drive the installation of consumption good industries and generate 212,000 direct and indirect jobs.

September 2007 was marked by two major achievements: construction work began for the Abreu e Lima Refinery, in Recife, and the Piranema Platform was baptized in Sergipe. The new refinery will be the first one to process 100% heavy oil, while the Piranema Platform will use pioneering technology, as it will be the first FPSO-type unit built with a circular hull, capable of operating under the most severe environmental conditions.

In early 2008, Petrobras was acknowledged by a Management & Excellence (M&E) survey as the world’s most sustainable oil company. Ranked first, scoring 92.25%, the company is the global reference in ethics and sustainability based on 387 international indicators, among which lower pollutant emissions and oil leaks, less power consumption, and a transparent vendor service system.

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