Reuters  Oct 24  Comment 
Brazil Petrobras on Monday said its board approved the creation of an independent committee to allow the state-controlled company's minority shareholders to review...
Automotive World  Oct 24  Comment 
Petrobras and Total inform that Pedro Parente, CEO of Petrobras, and Patrick Pouyanné, Chairman and CEO of Total, have signed today, in Rio de Janeiro, a Memorandum of Understanding which sets the general framework for a Strategic Alliance...
Wall Street Journal  Oct 23  Comment 
Brazilian state oil company Petrobras agreed to settle lawsuits from Pimco and three other investors who alleged they were harmed by a corruption scheme that funneled billions of dollars from the company.
Reuters  Oct 21  Comment 
France's Tereos [TEREO.UL] has started talks to acquire Petroleo Brasileiro SA's 45.9 percent minority stake in their joint venture Guarani, as Brazil's state-owned oil...
BBC News  Oct 21  Comment 
Pedro Parente, chief executive of Petrobras, says the Brazilian oil giant will return to its best days in five years' time - once he implements new governance and business measures.
Financial Times  Oct 19  Comment 
Eduardo Cunha masterminded impeachment of former president Dilma Rousseff


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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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.


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