Today, why Petrobras could become the world’s largest oil company on the stock market. The meddling of Bolsonaro in Brazil’s biggest publicly-controlled bank. And Brazil’s most innovative entrepreneurs.
Could Petrobras become the world’s largest publicly-traded oil company?
Brazil’s state-controlled oil and gas giant Petrobras is the second-largest corporation operating in the world’s seas, only ranking behind Saudi Aramco. The findings come from a research effort by scientists at the Stockholm Resilience Center and the U.S.-based Duke University to map the companies which account for most of the profits from offshore operations. Their study was published in the Science Advances journal.
- Combined, the top 100 companies with offshore operations generated a total of USD 1.1 trillion in revenues in 2018. Petrobras alone accounted for USD 46 billion.
The future is in the ocean. Despite the pandemic, Petrobras reached record levels for oil and natural gas production in 2020 — 2.28 and 2.84 million barrels per day, respectively. As of now, 87 percent of its activities are in deepwater offshore reserves, and the company plans to invest USD 46.5 million in oil exploration and production until 2025.
Why it matters. According to Henrik Wachtmeister, one of the authors of the study, “as...