QUOTE AND NEWS
TheStreet.com  12 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras continued to decline 4.08% to $16.91 on Friday amid an investigation into allegations that the Brazilian state-owned energy company had bribed government officials, according to Bloomberg. Sao...
TheStreet.com  Sep 9  Comment 
NEW YORK (TheStreet) -- Shares ofaPetrobrasa fell 0.6% to $18.24 in morning trading Tuesday after allegations surfaced that the Brazilian state-owned energy company had bribed government officials, according toaBloomberg. Sao Paulo-based Veja...
SeekingAlpha  Sep 9  Comment 
By Ketul Kothari: In my last article on Petrobras (NYSE:PBR) published a little over four months ago, I had indicated that Petrobras was a strong buy because it had been trading well below both the company's stated book & net asset values. At the...
OilVoice  Sep 9  Comment 
Electromagnetic Geoservices ASA EMGS has received a contract worth USD 5.5 million from Petrobras for 3D EM data acquisition in Brazil. quotWith this contract we are back in a strategically impo
OilVoice  Sep 9  Comment 
Since Friday September 5th the media has been reporting stories involving Petrobras based on unofficial information obtained from statements that Mr. Paulo Roberto Costa has apparently made to the F
BBC News  Sep 9  Comment 
Brazil's state-run oil company, Petrobras, says it is investigating an alleged bribery scheme reported to be linked to top politicians.




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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