QUOTE AND NEWS
Upstream Online  Apr 3  Comment 
China’s Shandong Kerui Petroleum and local company Metodo Potencial to build plant to process pre-salt gas
Reuters  Mar 31  Comment 
Brazilian state-controlled oil company Petróleo Brasileiro SA is planning the sale of a 25 percent stake in its refinery capacity, newspaper Folha de S. Paulo reported on Saturday.
Wall Street Journal  Mar 15  Comment 
Brazilian state-controlled oil company Petrobras said Thursday it posted a net loss in the fourth quarter and in 2017 as the state-controlled oil company continues to suffer from the side effects of a corruption scandal.
Benzinga  Mar 14  Comment 
On Wednesday, Petrobras (NYSE: PBR) will release its latest earnings report. Benzinga's report can help you figure out the ins and outs of the earnings release. Earnings and Revenue Sell-side analysts expect Petrobras's EPS to be near 21...
Upstream Online  Mar 13  Comment 
BW gains extension on Cidade de Sao Mateus as talks continue on use of floater after earlier fatal blast




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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