"Petrobras" a giant of the Brazilian oil industry - Economist

In the beginning, we find that the word (Petrobras) means in Portuguese "Petroleum of Brazil", and it is a semi-governmental company that was established in 1953 in "Rio de Janeiro", and it became one of the 20 largest companies in the world and the largest oil companies.

And that was during the era of President Getulio Vargas, whose main objective was to start extracting and processing "crude oil" and transporting it to all the provinces of Brazil and the whole world.

Petrobras, the largest oil company in Latin America, announced its intention to raise the price of gasoline by 5.18% and diesel by 14.2%.

The company attributed this decision in connection to the huge rise in the price of oil in the world, directly referring to the war in Ukraine, and in the same context, Brazilian President Bolsonaro accused Petrobras that it could plunge Brazil into chaos, as fuel prices rose last year by about 33 %.