QUOTE AND NEWS
Financial Times  Sep 15  Comment 
Former president Lula da Silva hits back at prosecutors as Petrobras case reaches climax
Benzinga  Sep 15  Comment 
  Goldman Sachs upgraded Global Payments Inc (NYSE: GPN) from Sell to Neutral. The price target for Global Payments has been raised from $80 to $88. Global Payments shares rose 1.39 percent to $74.54 in pre-market trading. Analysts at...
Motley Fool  Sep 13  Comment 
These stocks fell with the broader market. Find out why.
Reuters  Sep 8  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA said on Thursday it concluded negotiations over the sale of natural gas pipeline unit Nova Transportadora do...
Reuters  Sep 6  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset...
Reuters  Sep 1  Comment 
Federal prosecutors in Brazil rejected a $328.2 million deal on Thursday allowing Dutch oil-ship lessor SBM Offshore NV to avoid prosecution for corruption related to its contracts with state-led oil company Petrobras.




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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