Petrobras
In short
Petrobras is a Brazilian multinational corporation that focuses on the oil and gas industry. It is majority-owned by the Brazilian government and is based in Rio de Janeiro.
In plain words
This is a massive company that finds, drills, and sells oil and gas. Because the government owns most of it, its decisions often affect Brazil's economy and fuel prices.
A simple example
When Petrobras decides to change its fuel prices, it can cause petrol costs to go up or down for drivers across Brazil.
Why it matters
It is one of the largest energy companies in the world. Its profits and policies are vital for Brazil's national budget and global energy markets.
Easy to mix up
Do not confuse it with a private oil company, as the Brazilian state holds significant control over its direction.