QUOTE AND NEWS
Wall Street Journal  7 hrs ago  Comment 
Brazil’s state-run oil firm said it would sell about $13.7 billion in assets in 2015 and 2016, a sharp increase from a previously announced divestment plan, as it continues to slim down in the wake of a vast corruption scandal.
Reuters  7 hrs ago  Comment 
Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt...
Reuters  Feb 28  Comment 
Brazil's Braskem SA , Latin America's largest petrochemical company, said on Friday it had agreed to a revised naphtha supply contract with shareholder Petrobras, staving off a threatened shutdown of its Brazilian plants.
Reuters  Feb 27  Comment 
Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday that the director of its corporate-services division will take a 90-day leave of absence for health reasons.
TheStreet.com  Feb 27  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras are up 5.48% to $6.64 in midday trading Friday, as crude prices trade in the green with Brent positioned for its first monthly gain since July of 2014, helped by strong investor inflows as well as...
Forbes  Feb 27  Comment 
Moody's believes that this delay, which already restricts the company's access to the debt capital markets, could potentially lead to a call for accelerated repayment by its bondholders because of a covenant breach, which would significantly...
Reuters  Feb 27  Comment 
Norway's BW Offshore said on Thursday it had found the body of a seventh victim of a Feb. 11 blast on a production vessel it operates for Brazil's state-run oil company Petroleo Brasileiro SA .
Reuters  Feb 25  Comment 
Brazil has no plans to pump new capital into Petrobras, even after a debt-rating downgrade by Moody's Investors Service threatens to limit the cash-strapped oil company's access to finance and raise its borrowing costs, two government officials...
Financial Times  Feb 25  Comment 
Yahoo  Feb 25  Comment 
SAO PAULO/NEW YORK (Reuters) - Petróleo Brasileiro SA (PETR4.SA) has hired JPMorgan Chase & Co to handle $3 billion in planned asset sales this year, as fallout from a corruption scandal has shut access to financing for Brazil's state-controlled...




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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