QUOTE AND NEWS
TheStreet.com  Jul 18  Comment 
NEW YORK (TheStreet) -- Petrobras  continued to rise Friday after the Brazilian energy company said it is having conversations to sell its 40% stake in natural gas distributor Gasmig to Companhia Energetica Minas Gerais . The sale would...
OilVoice  Jul 18  Comment 
Petrobras in line with its Business and Management Plan which provides for divestment of assets abroad and in Brazil is negotiating with Cemig Companhia Energeacutetica de Minas Gerais to sell
TheStreet.com  Jul 17  Comment 
NEW YORK (TheStreet) -- Petrobras shares are up 1.9% to $16.31 on Thursday after the company reported that it is in talks to sell its 40% stake in natural gas distributor Gasmig to Companhia Energetica Minas Gerais .The sale is part of the...
TheStreet.com  Jul 15  Comment 
NEW YORK (TheStreet) -- TheStreet Ratings team reiterated its "hold" rating for Petrobras Tuesday with a rating score of C. Shares of the company were gaining 0.3% to $15.93. Investors traded about 26.1 million shares of Petrobras by 3:30...
OilVoice  Jul 15  Comment 
HRT Participaccedilotildees em Petroacuteleo S.A. BMFBOVESPA HRTP3 TSXV HRP jointly with its whollyowned subsidiary HRT OG Exploraccedilatildeo e Produccedilatildeo de Petroa
OilVoice  Jul 15  Comment 
Skanska has renewed two contracts to perform maintenance services on offshore platforms for Petrobras in the area of Macae Brazil. The combined amount of the contracts is BRL 192 M about SEK 547 mil




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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