QUOTE AND NEWS
Wall Street Journal  6 hrs ago  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA is seeking access to the testimony of a jailed former Petrobras executive who has made allegations of a massive kickback scheme at the company.
TheStreet.com  9 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras are lower by 5.01% to $18.41 on Monday afternoon after allegations that the Brazil-based integrated oil and gas company was bribing government officials, Barron's reports. Over the...
Reuters  Sep 7  Comment 
Brazil's October presidential race has been shaken up by a corruption scandal allegedly involving state-run oil firm Petrobras and dozens of lawmakers, with both leading candidates forced onto the defensive after colleagues were implicated.
New York Times  Sep 7  Comment 
A former executive at Petrobras, now in jail, testified that many top political figures were involved in a kickback scheme, according to a magazine report.
Reuters  Sep 5  Comment 
A jailed former director of Brazil's state-run oil firm Petrobras has named dozens of lawmakers and at least one state governor who allegedly received kickbacks off the company's contracts, the country's main newspapers reported on Friday.
SeekingAlpha  Sep 4  Comment 
By Anthony Parsons: This article will focus on the stocks of three top Brazilian companies who all have generous dividend yields to offer current and potential investors. The three companies that we will discuss today here are Petrobras...
OilVoice  Sep 4  Comment 
Yesterday 3 Sept Petrobras CEO Maria das Graccedilas Silva Foster was announced winner of the Global Pacific Partners Award in the OffshoreDeepwater Player category at the 20th Latin Oil Week




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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