Petroleo Ipiranga

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Empresas Petróleo Ipiranga

Type	Public Bovespa: (PTIP3 / PTIP4) for Companhia Brasileira Petróleo Ipiranga. (DPPI3 / DPPI4) for Distribuidora de Produtos de Petróleo Ipiranga S.A (RIPI3 / RIPI4) for Refinaria de Petróleo Ipiranga S.A
Founded	1933
Headquarters	Porto Alegre, Brazil
Key people	João Pedro Gouvea Vieira Filho
Industry	Oil and Gasoline
Products	Petroleum and derived products service stations Ipiranga motor oil Petrochemical products Transportation
Revenue	▲$11.530 billion USD (2005)
Employees	-
Website	www.ipiranga.com.br

Empresas Petróleo Ipiranga is a Brazilian conglomerate that are in the field of refining and distribution of oil.

It also has business in petrochemical and chemical industries.

Ipiranga also started to act in the upstream activity, exploring and developing production of oil and natural gas in Bahia, Brazil, in a joint venture with Petrobras and El Paso Corporation. The company started its activities in 1933, in Uruguaiana, RS under the name of Destilaria Rio Grandense de Petróleo S/A.

[edit] Overview

Headquarters of the company in Porto Alegre.

The company distributes petrochemicals and chemicals for the Central and South American markets. The oil company (which has a 23% share of the Brazilian fuel distribution market) operates a network of 3,350 Ipiranga branded gas stations. Its chemical products include polymers, process oils, resins, and solvents used by the adhesive, paint, and rubber industries. Gasoline and lubricant sales and profits have declined because of price gaps, fuel adulteration, and tax frauds. The group contracted Chase Manhattan bank to implement a restructuring plan, which could include the sale of some of its operations. In March 19, 2007, it was announced that Ipiranga would be purchased by a consortium formed by Petrobras, Braskem and Grupo Ultra, and its retail operations would be split between Grupo Ultra (in the South and Southeast regions, keeping the Ipiranga brand) and Petrobras (elsewhere in Brazil, where Petrobras will have 5-year rights to use the Ipiranga name, while rebranding to Petrobras).