QUOTE AND NEWS
SeekingAlpha  Jul 28  Comment 
By Bidness Etc: By Martin Blanc Brazil's oil regulator has approved Petroleo Brasileiro Petrobras SA's ADR (NYSE:PBR) plan to upgrade the Marlim offshore oil field, the country's largest. The upgrade is in response to the concerns that...
Benzinga  Jul 25  Comment 
In a report released Friday, Barclays analyst Paul Cheng upgrades Petroleo Brasileiro Petrobras SA (NYSE: PBR) from Equal-Weight to Overweight and raised its price target from $22 to $23. Cheng said that Petroleo will benefit from the upcoming...
StreetInsider.com  Jul 25  Comment 
UPGRADES Barclays upgrades Petrobras (NYSE: PBR) from Equalweight to Overweight with a price target of $22 Patterson-UTI Energy (Nasdaq: PTEN) upgraded by two today: CLSA from Sell to Outperform; and Raymond James from Market Perform to...
TheStreet.com  Jul 23  Comment 
Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener. NEW YORK (TheStreet) -- Here's what Jim Cramer had to say about some of the stocks callers offered up during the Mad Money Lightning Round...
SeekingAlpha  Jul 22  Comment 
ByCorvetteKid: Bad enough that the Brazilian national team was embarrassed by Germany in their home stadium during the recent World Cup. But Petrobras (NYSE:PBR), the once iconic national oil company, has stumbled badly in recent years. Even a...




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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