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Petrobras Oil Crisis

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Brief History Petrobras, is a Brazil‐based oil giant, that was founded in 1953 (Spector, 2013). Petrobras’ slogan then was, “The petroleum is ours!” (Spector, 2013, p. 193). The company was a monopoly from 1954 to 1997 (Jr & Antoun, 2012). In 1973, Petrobras was hit hard by the 1973 oil crisis; this crisis affected of the oil companies. This crisis almost bankrupted Petrobras. The only thing that kept them alive was finding an oil field in Bacia de Campos. Later, in 2000, the company built the biggest oil exploration in deep water that existed, reaching a depth of 6,158 feet below sea level. Looking into the more recent history, Petrobras has now discovered the world’s largest oil field in the State of Sāo Paulo. Petrobras has also started to finance ultra-deep oil exploration, started producing two million barrels a day, acquired Perez Compnc Energìa, and began a joint-venture with Japan. However, this case study is about the accidents and improvements made because of them. Case Synopsis …show more content…

Petrobras had many oil spills in the span of five years. These include, but are not limited to, in 2000, a pipeline spilled oil into the Guanabara Bay (Spector, 2013). This event occurred for two hours before it was discovered. Then, again in 2000, another spill occurred, leaking oil into two nearby rivers. Shortly after that, a drilling platform blew up; in the process it killed 11 employees and again spilled oil into the water (Spector,

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