QUOTE AND NEWS
Reuters  May 6  Comment 
Brazil's Supreme Court ordered another engineering executive released from jail on Wednesday, complicating prosecutors' efforts to expand a corruption investigation at state-run oil firm Petroleo Brasileiro SA .
TheStreet.com  May 6  Comment 
NEW YORK (TheStreet) -- Shares of Brazilian state-owned energy company Petrobras  rose 2.06% to $10.40 in morning trading Wednesday as Ibovespa futures climbed and crude oil prices extended their two-day rally. Ibovespa futures contracts due...
Financial Times  May 5  Comment 
Investigation centres on whether investors were misled over energy’s group’s fuel pricing policy
TheStreet.com  May 5  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  are higher by 4.91% to $10.26 in afternoon trading Tuesday, on reports that Brazil may ease its national content rules for the oil sector, according to Reuters. Brazil energy minister Eduardo Braga...
Clusterstock  May 4  Comment 
By Caroline Stauffer SAO PAULO (Reuters) - Recent setbacks for prosecutors in a huge corruption scheme at Brazil's state-run oil company Petroleo Brasileiro SA suggest they will struggle to win as many convictions as they seek. The Supreme...
Forbes  May 3  Comment 
Brazil's Energy Minister heads to Houston to find new partners for Petrobras.
Reuters  Apr 29  Comment 
Shareholders of Petrobas, Brazil's state-run oil producer, elected new members to the board of directors on Wednesday, outgoing board member Silvio Sinedino told Reuters.
TheStreet.com  Apr 29  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras   were volatile on Wednesday after Vale  CEO Murilo Ferreira became chairman of the beleaguered Brazilian state-owned energy company. Ferreira is named as chairman in conjunction with the...




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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