QUOTE AND NEWS
SeekingAlpha  3 hrs ago  Comment 
Clusterstock  12 hrs ago  Comment 
RIO DE JANEIRO (Reuters) - The board of directors at state-controlled oil company Petróleo Brasileiro SA formally elected Pedro Pullen Parente as chief executive officer, a source with direct knowledge of the situation said on Monday. According...
Clusterstock  May 30  Comment 
By Marta Nogueira RIO DE JANEIRO (Reuters) - Aldemir Bendine, chief executive officer of Brazil's state-led oil company Petroleo Brasileiro SA , offered his resignation on Monday and is set to be replaced by Pedro Parente, a source with direct...
Benzinga  May 24  Comment 
ADRs of Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) have underperformed, despite a recent upgrade from JPMorgan. Rating And Justification JPMorgan upgraded the stock to Neutral from Underweight on potential for lower credit risk, asset...
Benzinga  May 24  Comment 
Financial Times  May 24  Comment 
The political weather is changeable but institutions are holding firm, writes John Paul Rathbone
Motley Fool  May 23  Comment 
These stocks fell sharply in a flat market. Find out why.
Financial Times  May 23  Comment 
Planning minister steps down after secretly discussing how to end Petrobras corruption probe




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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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