QUOTE AND NEWS
Reuters  4 hrs ago  Comment 
Brazil's state-controlled oil company Petrobras said problems with its LNG regasification terminal in Ceara state and a nearby thermoelectric plant could put at risk...
Reuters  Sep 23  Comment 
Brazil's state-owned oil producer Petrobras agreed to sell 90 percent of a natural gas pipeline unit to a group led by Canada's Brookfield Asset Management Inc for...
Benzinga  Sep 22  Comment 
Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) has been in the spotlight this week, up roughly 5.5 percent. Earlier this week, the country’s former president, Luiz Inacio Lula da Silva, was indicted in a corruption probe related to the...
Motley Fool  Sep 22  Comment 
Brazilian oil giant Petrobras just announced plans to further reduce its capital spending over the next five years. That's not a good thing for offshore driller Seadrill Ltd, which needs to see offshore investments start picking up.
SeekingAlpha  Sep 22  Comment 
Forbes  Sep 22  Comment 
Fitch Ratings says that Petrobras needs to sell more assets or it will not get its debt under control.
Benzinga  Sep 21  Comment 
Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) has announced its 2017-2021 Business and Management Plan. While this could have a “slightly positive impact” on the company’s shares in the near term, shares could be under significant...




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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