Best managed Latam companies 2009: Petrobras makes the most of a special situation

The partly state-owned Brazilian oil company sees no conflict between profitability, state ownership and social responsibility, according to its chief financial officer, Almir Barbassa. Jason Mitchell reports.

Euromoney’s 2009 best managed companies in Latin America

Award winners
Highest standard of corporate governance	Most convincing and coherent business strategy
Most improved	Most transparent accounts
Most accessible senior management	Most useful and informative website
Best small company	Most convincing and coherent by country
Most convincing and coherent by sector	Best corporate governance by country

DOES A LARGE slice of state ownership – and the required rigours that come with reporting to government and taxpayers as shareholders – make for better corporate managers?

It goes against the accepted wisdom of capitalism.