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Petrobras completed 55 years of existence on October 3, 1953. Considering this, it is important to point out how much the company has grown in over half a century and how much it has contributed to the development of Brazil and to those countries in which it operates. When operations were started in 1954, Petrobras produced only 2,700 barrels per day, reported reserves of 170,000 barrels and owned only one refinery, in Bahia. Today the situation is very different. Petrobras now produces 2.4 million barrels of oil and natural gas per day, with 2.2 million from the company’s production in Brazil and 200,000 produced overseas. Reserves total 15 billion barrels in Brazil and abroad, without taking into account the recent discoveries in the oil province located along a substantial portion of the Brazilian continental shelf in the pre-salt layer. In addition, the company now owns 15 refineries, 11 in Brazil and 4 overseas. Over this period the volume of oil discovered by Petrobras totaled an accumulated production of 10.2 billion barrels in Brazil. The company has also contributed to the nation, the states, and the municipalities through the payment of royalties. From 1998 to August 2008 alone these royalties totaled around US$ 41.9 billion. Furthermore, Petrobras has revitalized the Brazilian shipbuilding industry through its orders for platforms and vessels. Today, the company’s production of oil in Brazil exceeds the national demand, which ensures self-sufficiency for the country. Petrobras, with its corporate headquarters in Rio de Janeiro, Brazil, is also present in Angola (exploration and production), in Tanzania (exploration), in Nigeria (exploration), in Libya (exploration), in Mozambique (exploration), in the United States (exploration, production, and refining), in Mexico (exploration), in Bolivia (exploration, production, and transportation), in Colombia (exploration and production), in Peru (exploration and production), in Ecuador (exploration and production), in Venezuela (exploration and production), in Chile (distribution), in Argentina (exploration, production, refining, distribution, electric energy, and petrochemicals), in Paraguay (distribution), in Uruguay (distribution), in Japan (international trading and refining), in Iran (exploration), in Turkey (exploration), and in Cuba (exploration). The company’s stock is traded in the United States, in Europe, and in South America. The stockholder base totals approximately 600,000 investors. In this long trajectory, there have been many success stories. And there has been great preparation to face the challenges of the future.
