QUOTE AND NEWS
TheStreet.com  Aug 13  Comment 
NEW YORK (TheStreet) -- Petrobras  shares are falling 3.83% to $6.14 per barrel on Thursday along with declining oil prices due to the strong dollar and ongoing concerns about China's economic health, the Wall Street Journal reports. ...
TheStreet.com  Aug 12  Comment 
NEW YORK (TheStreet) -- Petrobras shares are increasing 0.96% to $6.31 on Wednesday morning along with oil prices, as the International Energy Agency (IEA) today lifted its oil demand growth outlook, The Wall Street Journal reports. Crude...
Wall Street Journal  Aug 11  Comment 
Brazilian authorities leading an investigation into a massive corruption scandal at state-run oil firm Petrobras have for the first time detailed suspected wrongdoing on U.S. soil.
TheStreet.com  Aug 11  Comment 
NEW YORK (TheStreet) --Petrobras  stock is slumping 5.74% to $6.08 on Tuesday along with falling oil prices as OPEC reported the highest level of production since 2012, The Wall Street Journal reports.  Crude oil (WTI) for September delivery...
TheStreet.com  Aug 10  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras are rising by 1.98% to $6.17 in mid-morning trading on Monday, on speculation the Brazilian state-run oil company has attracted a suitor for its Liquigás gas asset, Reuters reports, citing Brazilian...
Reuters  Aug 8  Comment 
Brazilian president Dilma Rousseff on Saturday appointed a top prosecutor investigating a massive corruption scandal at state-run oil company Petrobras to remain on the job for another two years.
Reuters  Aug 7  Comment 
The chief executive of Braskem SA said on Friday that Latin America's largest petrochemical company is not currently facing legal action related to a naphtha supply...
TheStreet.com  Aug 7  Comment 
NEW YORK (TheStreet) -- Petrobras  shares are falling 1.69% to $6.39 on Friday morning after the company reported its fiscal 2015 second quarter earnings results after the market close yesterday that missed analysts' estimates on the bottom...




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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