QUOTE AND NEWS
Forbes  Nov 25  Comment 
The commodity markets around the world have been in the doldrums since mid-2014. The oil glut, caused by excess supply and declining demand, wrecked the expansion plans of a majority of oil and gas companies and deteriorated their profitability...
OilVoice  Nov 21  Comment 
Karoon Gas Australia LTDASX KAR has become aware that court proceedings have been initiated by Mr Jose Hunaldo Nunes Santos against Petroleo Brasileiro SAs Petrobras and the Agencia Nacional do
The Australian  Nov 21  Comment 
A court has ordered state oil giant Petrobras to cease the sale of its Bauna and Tartaruga Verde oilfields.
Reuters  Nov 17  Comment 
Brazil's Petroleo Brasileiro SA has approved the sale of its liquefied petroleum gas unit to Ultrapar Participações SA, as Brazil's state-controlled firm disposes of...
Forbes  Nov 16  Comment 
As the worst-ever commodity downturn persists much longer than anticipated, large integrated companies, that were relying on their downstream operations, are revisiting their strategies to remain afloat in the present weak price environment....




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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