QUOTE AND NEWS
New York Times  44 min ago  Comment 
The investigation is looking into whether subcontractors may have colluded with top Petrobras executives to overbill the company and pay bribes.
BBC News  4 hrs ago  Comment 
The head of two of Brazil's leading construction firms are arrested as part of a major investigation into corruption at state-owned oil giant Petrobras.
TheStreet.com  Jun 18  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  were higher by 1.68% to $9.66 in midday trading Thursday, along with other oil related stocks amid rallying crude prices. Oil prices are rising as a weaker dollar makes fuel cheaper for holders of...
Reuters  Jun 18  Comment 
Brazilian state-run oil company Petrobras is looking to sell some of its biofuel assets as it tries to raise cash to cover investment for new offshore oilfields...
TheStreet.com  Jun 17  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  were retreating, lower by 1.37% to $9.37 in midday trading Wednesday, along with other oil related stocks as crude prices fall following the release of data from the U.S. Energy Information...
OilVoice  Jun 17  Comment 
Petrobras presalt production in May set two new monthly output records. Production handled by the company including both Petrobras and partner production reached a new high of 726000 barrels per
Reuters  Jun 16  Comment 
Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry.
TheStreet.com  Jun 16  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  were rising, higher by 3.48% to $9.36 in afternoon trading Tuesday, along with other oil related stocks as WTI crude prices rise ahead of a tropical storm in Texas, according to Reuters. U.S....
Benzinga  Jun 15  Comment 
Analysts at JP Morgan upgraded Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR) from Neutral to Overweight. The price target for Petrobras has been raised from $7.00 to $10.50. Petrobras shares have dropped 42.41 percent over the past 52...




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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