The Emergence of Multilatinas: The Petrobras Experience

Abstract

This paper examines the history of Petrobras and its multinational expansion. The Petrobras experience confirms that the rise of emerging economies is leading to a transformation in global business in which foreign direct investment is driven not only by the exploitation of traditional firm-specific competencies (although, at least in the case of Petrobras, these are far from minor) but also by the exploration of new patterns of organizational innovation and ways of accessing markets.