QUOTE AND NEWS
Reuters  Apr 11  Comment 
The assets management unit of Brazilian bank Bradesco has proposed two candidates for seats on the board of the state-run oil company Petroleo Brasileiro SA, or Petrobras.
Forbes  Apr 10  Comment 
Global investors with long term horizons need to buy this stock fast. And then buy it again on the way down to $5.
Wall Street Journal  Apr 10  Comment 
Brazil’s federal police arrested three former lawmakers as part of an investigation of alleged corruption involving contracts between state-run oil firm Petroleo Brasileiro and construction firms.
SeekingAlpha  Apr 9  Comment 
TheStreet.com  Apr 9  Comment 
NEW YORK (TheStreet) -- Shares of Brazilian state-run energy company Petrobras  rose 8.38% to $7.50 in late afternoon trading Thursday as Brazilian President Dilma Rousseff said the company is ready to move on from the corruption scandal that...
Reuters  Apr 9  Comment 
State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from off-shore deposits, Brazil's President Dilma Rousseff said on Thursday.
Benzinga  Apr 7  Comment 
According to several media outlets, BlackBerry Ltd (NASDAQ: BBRY) has played a major role in helping Brazilian prosecutors expose a major corruption scandal at Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR). Apparently, the people...
Clusterstock  Apr 7  Comment 
By Guillermo Parra-Bernal RIO DE JANEIRO (Reuters) - Petróleo Brasileiro SA, struggling with fallout from a corruption scandal and a decline in oil prices, could release audited financial information this month despite facing "a perfect storm,"...
TheStreet.com  Apr 7  Comment 
Update 12:48 p.m.: Updated to include suppliers' loan negotiations, JP Morgan Securities comments, and current stock price. NEW YORK (TheStreet) -- Shares of Petrobras   rose 1.76% to $6.92 in early afternoon trading Tuesday after the...
Reuters  Apr 6  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it would halt five drilling rigs under contract with Schahin.




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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