QUOTE AND NEWS
Benzinga  10 hrs ago  Comment 
It would be an understatement to say that Petroleo Brasileiro Petrobras SA (ADR)(NYSE: PBR) shares have had a rough ride in the last two to three months. The stock witnessed a massive slump of more than 50 percent from its early September highs of...
Reuters  Nov 21  Comment 
President Dilma Rousseff expects a bribery scandal at state-run oil company Petrobras to deteriorate in coming months, aides say, with arrests possible for some political allies and potentially serious damage to an economy that is already struggling.
TheStreet.com  Nov 21  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  rose 5.77% to $10.27 in morning trading Friday after the company announced that one of its offshore platforms became operational on Thursday. Petrobras said its offshore platform Cidade de...
BBC News  Nov 21  Comment 
The mammoth corruption scandal surrounding Brazil's oil colossus Petrobras
Wall Street Journal  Nov 20  Comment 
Brazil’s central bank has frozen around $18.6 million in assets of suspects in connection with a broad investigation into alleged embezzlement at state-controlled oil firm Petróleo Brasileiro SA, prosecutors said.
Reuters  Nov 20  Comment 
In a country where big court cases often drag on for a decade or more and abruptly fall apart on technicalities, the man leading a bribery probe at Brazil's state-run oil firm Petrobras is described by allies and even rivals as perfectly suited to...
Forbes  Nov 20  Comment 
The proud of many Brazilians would be better hands if run by private hands.




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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