QUOTE AND NEWS
TheStreet.com  4 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of Brazilian state-owned energy company Petrobras  rose 6.33% to $8.74 in afternoon trading Wednesday after police arrested the treasurer of the ruling Workers' Party. The arrest brings a corruption and bribery...
Reuters  10 hrs ago  Comment 
Brazil's Petrobras may include stakes in some sub-salt oil fields in an asset sale program aimed at reducing capital spending amid a massive corruption scheme, a local...
Benzinga  Apr 14  Comment 
Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR) shares were up more than 2 percent on Tuesday after two stories are trending. The first, in the analyst ratings world, concerns an upgrade from Bank of America, to Buy from Neutral. Others on...
Reuters  Apr 14  Comment 
A corruption probe at Brazil's state-run oil company Petrobras is likely to promote less government intervention and more transparency, economists and analysts said on Tuesday.
Wall Street Journal  Apr 14  Comment 
Brazilian state-controlled oil giant Petróleo Brasileiro said it plans to release 2014 audited earnings on April 22.
Financial Times  Apr 14  Comment 
Scandal-hit Brazilian oil group expects to release long-delayed results as soon as next week
Reuters  Apr 13  Comment 
Petrobras hopes to release third-quarter and full-year 2014 financial results after a board meeting on April 22, after more than five months of delays in the wake of a corruption scandal that has spread to the highest levels of government.
Reuters  Apr 13  Comment 
Shares of Brazil's Petrobras rose nearly 4 percent on Monday after local media reported that the state-run oil company plans to sell a stake in petrochemicals...
TheStreet.com  Apr 13  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  rose 0.77% to $7.81 in pre-market trading Monday despite claims from former Brazilian presidential candidate Aécio Neves in the Wall Street Journal that current President Dilma Rousseff used...




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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