QUOTE AND NEWS
TheStreet.com  11 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of Brazilian state-owned energy company Petrobras  fell sharply, down 6.94% to $6.57 in morning trading Monday, as oil prices declined. WTI crude was down 4.26% to $46.30 at 10:25 a.m., while Brent crude was...
Financial Times  Jan 9  Comment 
CES, Petrobras, StanChart and US container ports dispute featured
TheStreet.com  Jan 9  Comment 
NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras are down 1.18% to $6.68 today as oil prices headed to a seventh straight weekly loss on Friday with Brent below $50 a barrel. Global oil benchmarks hit their lowest level in...
TheStreet.com  Jan 9  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.  TheStreet Ratings quantitative algorithm...
Reuters  Jan 9  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA and its Indian partners have found more light crude oil in the Sergipe Basin off Brazil's Northeast coast, according to a securities filing on Thursday.
Reuters  Jan 8  Comment 
Brazil's state-run oil company said on Thursday it produced more crude oil and related liquids in the third quarter than Exxon Mobil Corp, making Petroleo Brasileiro SA the world's largest publicly traded petroleum producer for the first time.




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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