QUOTE AND NEWS
Reuters  7 hrs ago  Comment 
State-controlled Petróleo Brasileiro SA hired a group of five banks to handle the initial public offering of its fuel distribution business, two sources with knowledge of the...
TheStreet.com  10 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  were trading lower by 5.41% to $7.95 in afternoon trading Friday, along with other oil related stocks as WTI crude prices fall. Crude prices are sliding on a stronger dollar and expectations of...
Yahoo  Jul 17  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA said late Thursday it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take a charge against second-quarter earnings. The payment...
Clusterstock  Jul 16  Comment 
It’s been a tough year for international oil investors in Brazil as Petrobras has come under extreme scrutiny for allegedly paying massive bribes to secure lucrative contracts. The scandal has demolished Petrobras’ stock price and led to heads...
Reuters  Jul 16  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA is working to bring domestic diesel and gasoline prices into parity with international levels in order to attract downstream buyers or partners, a company executive said on Thursday.
Reuters  Jul 15  Comment 
Brazil's Justice Minister José Eduardo Cardozo pledged on Wednesday to punish any investigators found to have broken the law by using unauthorized bugs or leaking documents to the press while probing corruption at state-run oil firm Petrobras.
Financial Times  Jul 15  Comment 
Porsche, Lamborghini and Ferrari seized from ex-leader Collor as Petrobras scandal escalates




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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