QUOTE AND NEWS
Reuters  4 hrs ago  Comment 
In a country where big court cases often drag on for a decade or more and abruptly fall apart on technicalities, the man leading a bribery probe at Brazil's state-run oil firm Petrobras is described by allies and even rivals as perfectly suited to...
Forbes  10 hrs ago  Comment 
The proud of many Brazilians would be better hands if run by private hands.
OilVoice  Nov 20  Comment 
Petrobras has been informed that Police Chief Maacutercio Adriano Anselmo of the Federal Police Department39s Paranaacute Regional Superintendent39s Office submitted yesterday November 19
Benzinga  Nov 19  Comment 
CNBC Fast Money's Josh Brown spoke on the show about Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR). He thinks that all the bad news are priced in the stock, as traders have already accepted the fact that there may be an equity issuance....
TheStreet.com  Nov 19  Comment 
NEW YORK (TheStreet) -- Petrobras could cut the value of its assets by $8.1 billion, and reduce its dividends due to ongoing investigations by U.S. and Brazilian authorities into allegations of bribery and money laundering at the...
Wall Street Journal  Nov 19  Comment 
The alleged corruption scheme said to involve kickbacks from contracts at Brazil’s state-controlled energy giant Petroleo Brasileiro SA, or Petrobras, may have totaled as much as 4 billion Brazilian reais ($1.6 billion), according to the head of...
Yahoo  Nov 19  Comment 
Petróleo Brasileiro SA could slash the value of its assets by as much as 21 billion reais and cut dividends as a result of an ongoing investigation into alleged graft and money-laundering at Brazil's state-controlled ...




RELATED WIKI ARTICLES
 

Petroleo Brasileiro SA, also known as Petrobras, is a Brazil based holding company that engages in the exploration, production, refining, and sale of crude oil and other energy sources. Petrobras operates over 100 production platforms, 16 refineries, 30,000 kilometers of transportation ducts and more than 6,000 gas station in Brazil, Argentina, Mexico, Portugal, the United States, Peru and Turkey.[1]

While almost all of Petrobras’s barrels of oil and gas reserves come from Brazil, the company has the potential of becoming a major net exporter of oil.[2] In particular, Chinese energy companies and Chinese banks agreed in to finance the development of Petrobras’s offshore oil fields in exchange for guaranteed supplies of oil once the fields developed. However, low oil prices have the potential of reducing Petrobras’s exploration efforts because of the expensive equipment and technology required to develop deepwater oilfields.[3] Despite low gasoline and diesel prices, Petrobras plans to continue expanding its domestic refining and distribution operations.


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Competition

Petrobras remains the largest government owned oil company in Brazil, so it faces very little competition on its home turf. It is difficult for competitors to enter the market given the preferential treatment Petrobras has with the Brazilian government. Despite the opening up of the Brazilian oil market, Petrobras has maintained its market share.



References

  1. Reuters: PBR Profile
  2. Reuters: PBR Profile
  3. moneymornings.com: Petrobras will be poised for big economic gains
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