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    Maria das Graças Silva Foster
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The government-run energy company with proven reserves of about 14 billion barrels of oil has been hampered by the declining value of the real, Brazil’s currency, relative to the dollar. Petrobras operates in 24 countries and has pledged to spend $237 billion on production and exploration projects in the next five years, including in the deep waters off Brazil’s southeast coast in a reserve estimated to hold up to 100 billion barrels of oil. Revenue fell 1.2% for Petrobras in 2012, coming in at $144.1 billion.

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Key Financials

$ Millions% change