QUOTE AND NEWS
Benzinga  Jul 13  Comment 
Barclays provided its updated ratings and price targets for several companies, including: Alon USA Energy, Inc. (NYSE: ALJ): Upgraded to Equal Weight from Underweight. Lowered price target to $8 from $10. Delek US Holdings, Inc. (NYSE: DK):...
Reuters  Jul 12  Comment 
State-controlled Petróleo Brasileiro SA will extend for 30 days an exclusive negotiation with Canada's Brookfield Asset Management Inc over the sale of natural gas...
Benzinga  Jul 7  Comment 
Petróleo Brasileiro S.A. Petrobras (NYSE: PBR) revealed that its fully-owned unit Petrobras Global Finance B.V. ("PGF"), intends to offer additional notes of its 8.375% Global Notes due 2021 and 8.750% Global Notes due 2026 subject to market and...
The Economic Times  Jul 5  Comment 
Petrobras has warned its Indian partners in a huge offshore project to not expect oil from the site until 2022, according to sources.
Reuters  Jul 5  Comment 
Petrobras' plans to sell 'junk' oil fields off the coast of Brazil's Sergipe and Ceara states will do little to boost the economic prospects of the regions,...




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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