QUOTE AND NEWS
Financial Times  May 20  Comment 
Investigators want to test DNA of scandal’s suspected political mastermind
TheStreet.com  May 19  Comment 
NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras are slumping, down 6.09% to $9.10 in midday trading Tuesday, after analysts at Goldman Sachs Group predicted that oil will tumble, according to Bloomberg. Goldman said in a...
Reuters  May 19  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA said on Monday that output in Brazil and abroad rose 8.8 percent in April from a year ago to 2.78 million barrels a day of oil and equivalent natural gas a day (boepd).
TheStreet.com  May 18  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  rose 1.68% to $10.30 in morning trading Monday after the beleaguered Brazilian state-owned energy company reported a surprise first-quarter earnings beat on Friday. Petrobras posted a 1.2% decline...
Benzinga  May 18  Comment 
In a report published Monday, Goldman Sachs analysts mentioned that oil prices have surged 31.6 percent, after having bottomed to US$51.50/bl in January 20, 2015. Oil prices have reached a short-term peak level of US$67.70/bl, driven by relief...
Forbes  May 17  Comment 
The Brazilian oil firms imploding supply chain will have a direct and negative impact on its medium-term production and rig plans. Oil and gas services firms take note.
Financial Times  May 16  Comment 
Lower import costs provide a breather for Brazil group




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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