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Petrobras America Inc. (PAI) was incorporated in 1987 in the United States. PAI corporate office is located in Houston, Texas and has approximately 269 employees from 29 nationalities and ethnic groups.
Petrobras America Inc. is an indirect subsidiary of Petroleo Brasileiro S.A. (Petrobras), the 8th largest oil company in the world (source: Petroleum Intelligence Weekly – PIW) with a workforce of over 62,266 employees’ worldwide and gross revenues of $ 88 billion (2006).
Petrobras, a large integrated oil company is producing over 2. 2 million bbl/day worldwide and will be investing US$ 85 Billion over the next 5 years to increase this production to 3.5 million bbl/day.
Petrobras has an aggressive growth strategy for the US that is reflected on the following recent events:
- Acquisition of 50% of the Pasadena refinery
- Highest bidder on the last lease sale
- Acquisition of additional participation and operator ship of Cascade and Chinook discoveries.
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