Petrobras (NYSE: PBR / PBRA) (Bovespa:PETR3 / PETR4), short for Petróleo Brasileiro S.A., is a semi-publicBrazilian energy company heaquartered in Rio de Janeiro. The company was founded in 1953 mainly due to the efforts of the Brazilian President Getúlio Vargas. While the company ceased to be Brazil's oil monopoly in 1997, it remains a significant oil producer, with output of more than 2 million barrels of oil equivalent per day, as well as a major distributor of oil products. The company also owns oil refineries and oil tankers. Petrobras is the world's leader in development of advanced technology from deepwater and ultra-deep water oil production.