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Petrobras sponsored the Brazilian Série A from 2009 to 2012. [80] Petrobras was a secondary sponsor for the AT&T Williams F1 Team from 1998 to 2008 and signed again with Williams F1 from 2014 onwards. [81] From 2018, Petrobras left Williams and sponsored McLaren, but cancelled their sponsorship at the end of 2019.
Vibra Energia (formerly Petrobras Distribuidora or BR) is the largest distributor and marketer of petroleum derivatives and biofuels of Brazil and Latin America. It was a subsidiary of Petrobras until 2021 but now it is a corporation. The company has more than 8,000 gas stations in Brazil.
The company joined Petrobras and Ultrapar the following year in the biggest merger in Brazilian history, when those three companies acquired Grupo Ipiranga for US$4 billion. While Petrobras and Ultrapar shared the fuel distribution operations, Braskem took over Ipiranga Petroquímica, Ipiranga's former petrochemical operation.
Brazil’s state-owned Petrobras announced further reduction in its gross debt to $53.6 billion and a shareholder remuneration of $16.8 billion to holders of common and preferred shares.
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At the end of the first quarter, Petrobras (PBR) had a net debt of $58,424 million, decreasing from $73,131 million a year ago and $63,168 million as of Dec 31, 2020.
The bribery scheme operated between 2003 and 2014, during which Trafigura paid bribes to Petrobras officials to secure and maintain contracts. The illicit payments amounted to up to 20 cents per barrel of oil products bought from or sold to Petrobras. These bribes were concealed using shell companies and intermediaries with offshore bank accounts.
The stock of Petroleo Brasileiro SA Petrobras (NYSE:PBR, 30-year Financials) appears to be modestly undervalued, according to GuruFocus Value calculation.