QUOTE AND NEWS
Wall Street Journal  6 hrs ago  Comment 
Petrobras chief Maria das Graças Silva Foster is under pressure as a corruption scandal swirls around the state-run oil company.
Clusterstock  Dec 16  Comment 
RIO DE JANEIRO (Reuters) - Prosecutors in Rio de Janeiro said on Tuesday that they were seeking to indict the former chief executive officer of Brazilian state-run oil company Petroleo Brasileiro SA and a leading local construction and...
TheStreet.com  Dec 16  Comment 
NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras   are rising, higher by 3.04% to $6.45 in late morning trading Tuesday, as the biggest oil producer in ultra-deep waters is cutting its refining and exploration spending as oil...
Benzinga  Dec 15  Comment 
Credit Suisse cut its price target on Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR) Monday from $14 to $7.30 and maintained a Neutral rating. Analyst Andre Sobreira noted that “PBR has broken many promises in the past. Production...
Wall Street Journal  Dec 15  Comment 
Federal prosecutors in Brazil filed charges Sunday against another former executive of state-controlled oil company Petróleo Brasileiro SA, saying he accepted bribes from South Korean shipbuilder Samsung Heavy Industries Co.
The Economic Times  Dec 15  Comment 
Preferred shares of Brazil's state-run oil company Petroleo Brasileiro SA fell more than 8 percent on Monday.
TheStreet.com  Dec 15  Comment 
NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras are sinking, down 7.6% to $6.99 in morning trading Monday, after analysts at Credit Suisse lowered their price target to $7.30 from $14 with a "neutral" rating. Analysts at 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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