QUOTE AND NEWS
Forbes  Aug 19  Comment 
Currently, YPFB supplies 2.24 million cubic feet of natural gas per day to the thermoelectric plant in Brazil’s centerwest city of Cuiaba under a contract that is set to expire on August 31. The extended gas supply contract will allow Petrobras...
OilVoice  Aug 19  Comment 
FMC Technologies Inc. NYSE FTI announce that it has received an order for five subsea manifolds from Petrobras Brazil39s national oil company for its presalt fields located offshore Brazil.
OilVoice  Aug 19  Comment 
Yesterday Petrobras has entered into an agreement with YPFB in accordance with its negotiation agenda aimed at resolving differences as to the performance of the Bolivian natural gas import contrac
OilVoice  Aug 19  Comment 
This Saturday August 16th the Schahin Modec consortium hired by Petrobras to build and operate the FPSO Cidade de Mangaratiba initiated the process of moving the vessel out of the BrasFels ship
TheStreet.com  Aug 18  Comment 
NEW YORK (TheStreet) -- Petrobrasa rose Monday amid news the Brazilian energy company would start to take bids for oil fields in Argentina next month, according toaBloomberg. Petrobras Argentina SA, a division of the state-run energy company,...
TheStreet.com  Aug 15  Comment 
NEW YORK (TheStreet) -- Petrobras  rose Friday after the Brazilian energy company announced it made a fourth oil discovery in the Jupiter area in Block BM-S-24 in the Santos Basin. The state-owned company made the find through the well...
Forbes  Aug 15  Comment 
Having the Brazilian government own a majority controlling interest in Petroleo Brasileiro or Petrobras (NYSE: PBR) can be both a blessing and a curse for investors who own the rest of the company. Does Petrobras have the potential to double in...
Forbes  Aug 14  Comment 
Last year, Petrobras' average daily oil production in Brazil was 1,931.4 thousand barrels per day, an estimated 90.9% of Brazil's total oil production. Based on the recent earnings announcement, we have revised our price estimate for Petrobras to...
OilVoice  Aug 14  Comment 
Petrobras has confirmed the extension of the Jupiter discovery in the Santos Basin presalt block BMS24 following drilling operations at well 3BRSA1246RJS 3RJS732 informally known as Apollon




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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