|Type||Privately held company|
|Industry||Oil and Gasoline|
|Headquarters||Porto Alegre, Brazil|
|Key people||João Pedro Gouvea Vieira Filho (CEO)|
|Products||Petroleum and derived products
Ipiranga motor oil
|Revenue||US$ 23.0 Billion (2010)|
|Net income||US$ 1.5 Billion (2010)|
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.
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. On 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, including the Ipiranga brand) and Petrobras (elsewhere in Brazil, where Petrobras will have 5-year rights to use the Ipiranga name, while rebranding to Petrobras).
In April 2009, Ultrapar agreed to purchase of Texaco, allowing Ipiranga to increase its network by 2,000 gas stations, totalling 5,900 filling stations with coverage throughout the national territory.
Empresas Petróleo Ipiranga was composed by the following companies:
- Companhia Brasileira Petróleo Ipiranga (now owned by Grupo Ultra)
- Ipiranga Petroquímica (now owned by Braskem)
- quantiQ (formerly Ipiranga Química, now owned by Petrobras and Braskem)
- Empresa Carioca de Produtos Químicos (now owned by Braskem)
- Refinaria Petróleo Ipiranga S/A (now owned by Grupo Ultra, Petrobras and Braskem)
- Distribuidora de Produtos Petróleo Ipiranga S/A (now owned by Grupo Ultra)
- http://www.ipiranga.com.br, accessed April 1, 2013