QUOTE AND NEWS
OilVoice  3 hrs ago  Comment 
Statoil and Petrobras took a step forward in strengthening their cooperation in Brazil by signing a Memorandum of Understanding MoU. The intention of the MoU is to evaluate joint participation in f
Benzinga  Aug 26  Comment 
Although conditions have materially improved in recent months, especially in terms of liquidity, Credit Suisse’s Andre Natal believes oil prices would need to rebound to more than $80 for any meaningful upside for Petroleo Brasileiro SA...
Benzinga  Aug 26  Comment 
Clusterstock  Aug 25  Comment 
SAO PAULO (Reuters) - A voluntary layoff program at state-run oil company Petroleo Brasileiro SA has been accepted by 6,100 employees, a source with direct knowledge of the matter told Reuters. The number may rise by month-end, the deadline for...
Forbes  Aug 18  Comment 
In recent trading, shares of Petroleo Brasileiro S.A. (NYSE: PBR) have crossed above the average analyst 12-month target price of $9.22, changing hands for $9.30/share. When a stock reaches the target an analyst has set, the analyst logically has...
Benzinga  Aug 15  Comment 
Positive 2Q16 results may boost the shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) in the near term, Barclays’ Paul Y. Cheng said in a report. The analyst has an Underweight rating on Petrobras and an Equal-weight rating on the...




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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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