QUOTE AND NEWS
The Economic Times  Apr 21  Comment 
Brazil's stock index has returned 23% to investors in 2016. Global commodities crash and scandal at Petrobras in 2015, brought the country to its knees.
Clusterstock  Apr 18  Comment 
By Jeb Blount RIO DE JANEIRO (Reuters) - Brazil's corruption-battered state oil company Petrobras could be a big beneficiary if the country's opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday. Vice...
OilVoice  Apr 15  Comment 
Aker Solutions secured an agreement to provide maintenance and other services for subsea facilities at Petrobrasoperated oil and gas fields offshore Brazil. The contract is for a fixed term of three
NPR  Apr 15  Comment 
Dilma Rousseff was elected twice as the country's economy soared. But a bruising recession is now seen as the leading reason many Brazilians have turned against her.
Clusterstock  Apr 12  Comment 
BRASILIA (Reuters) - Brazilian police arrested former senator Gim Argello on Tuesday, federal prosecutors said, as part of a two-year corruption investigation that has given momentum to impeachment proceedings against President Dilma...
Reuters  Apr 8  Comment 
Brazil's Petroleo Brasileiro SA said on Friday that output dropped 5.2 percent in February to 2.65 million barrels of oil and equivalent natural gas a day from a year earlier.
Reuters  Apr 5  Comment 
Petroleo Brasileiro SA , Brazil's state-run energy company, in a statement on Monday said it has already fulfilled an obligation with China Development Bank [CHDB.UL] to buy Chinese goods and services in exchange for a $5 billion loan in 2015.




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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