|Bid||11.78 x 38800|
|Ask||12.40 x 800|
|Day's Range||11.90 - 12.35|
|52 Week Range||8.69 - 15.75|
|Beta (3Y Monthly)||-0.09|
|PE Ratio (TTM)||16.28|
|Forward Dividend & Yield||0.53 (4.41%)|
|1y Target Est||N/A|
More than 20 potential bidders are interested in the refineries that Brazil's state-controlled oil company Petroleo Brasileiro SA plans to sell, the company's chief executive officer said on Tuesday. CEO Roberto Castello Branco said more than 20 groups are interested in the four refineries in a first phase of privatizations. Two are in the northeastern states of Pernambuco and Bahia, and two are in the southern states of Parana and Rio Grande do Sul.
The global market for floating production, storage and offloading vessels is rebounding again, with as many as 24 new FSPO’s expected by 2020
Brazil's state-controlled oil company Petroleo Brasileiro SA has delayed until next week the delivery of binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, a source with direct knowledge of the matter told Reuters. Petrobras, as the firm is known, decided to delay the offers after interested parties asked for more time to conduct due diligence on the unit, said the source, who requested anonymity as the matter is private. Liquigas is one of dozens of assets Petrobras has put up for sale in a massive divestment drive aimed at reducing debt and sharpening the company's focus on deepwater oil exploration and production.
Brazil's Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part to divestments. Petrobras, as the state-run company is known, said in March it was spending $320 million on put options, hedging part of its output at $60 per barrel. Petrobras said the options expired at year-end.
Braskem suffered a sharp fall in second-quarter net income due to slower demand in Europe and Mexico, and the freezing of funds to pay for environmental damages in Alagoas state. Latin America's biggest petrochemical company on Wednesday reported net income of 129 million reais ($32.5 million), down 76% from a year ago despite good results in Brazil and the United States. The company said in a securities filing that its U.S. petrochemical plants performed better and it enjoyed higher sales of chemicals in the Brazilian market, while spreads for chemicals remained high internationally.
Brazil’s Petrobras is making some dramatic moves to raise the company’s bottom line and increase cash flow, but will its efforts pay off?
Oil prices have had a tough start to the week as the trade war between China and the U.S. intensified and the Treasury Department labelled China a currency manipulator
Brazil's state-controlled oil company Petroleo Brasileiro SA is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote the report to clients after a breakfast with Chief Executive Officer Roberto Castello Branco. The analysts also said in the report that Petrobras, as the firm is known, is considering partnering with oil firms present in Brazil's so-called pre-salt offshore oil region to create a company composed of gas pipelines coming from the off-shore exploration areas.
Bidding groups led by Brazilian investment firm Itausa Investimentos SA , Abu Dhabi state investor Mubadala and SHV Energy of the Netherlands are expected to submit binding proposals to acquire state-controlled oil company Petroleo Brasileiro SA 's LPG unit, two sources with knowledge of the matter said on Monday. Private equity firms CVC Capital Partners and Advent International have decided not to bid, the sources said ahead of a Wednesday deadline, after deciding the deal would be a better fit for strategic buyers. CVC and Advent declined to comment.
Brazil’s state oil and gas major Petrobras, once the company with the biggest debt pile in the global oil and gas industry, booked the highest quarterly profit on record for the second quarter of 2019 on the back of asset sales
* Petrobras posts its highest-ever quarterly profit * Latin American currencies suffer worst day in 2019 * Brazil's real weakens to lowest level in six weeks (Updates prices, adds analyst comment) By Sruthi Shankar Aug 2 (Reuters) - Brazil's real hit a six-week low on Friday, leading losses among Latin American currencies as an escalation in U.S.-China trade tensions turned investors risk-averse, although upbeat production numbers from oil firm Petrobras lifted Sao Paulo- listed shares. The MSCI index of Latin American currencies extended its slide for a second day and was on course to post its worst week of 2019 after U.S. President Donald Trump on Thursday vowed to hike tariffs on Chinese imports starting on Sept. 1, prompting retaliation from Beijing.
Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it ramped up production in the promising offshore "pre-salt" region. In a presentation to discuss quarterly results, Petrobras said it produced 2.76 million barrels of oil equivalent per day (boepd) in the month, up from 2.633 million in the second quarter. Last week, Petrobras posted lackluster second-quarter production figures and cut its 2019 guidance to 2.7 million boepd from 2.8 million, disappointing investors hungry for a long-promised production boost.
* Petrobras posts its highest ever quarterly profit * Latin American currencies worst day in 2019 * EM stocks on biggest slide since December 2015 By Agamoni Ghosh Aug 2 (Reuters) - Latin American currencies fell on Friday as U.S.-China trade tensions pulled investors away from riskier assets, but a smashing quarter from Brazilian state-run oil firm Petrobras helped Brazil stocks outperform regional indices. U.S. President Donald Trump vowed to hike tariffs on Chinese imports starting on Sept. 1 on Thursday, a day after negotiators from both countries concluded a meeting in Shanghai without significant signs of progress to end a trade war. Emerging market assets, already reeling from the U.S. Federal Reserve's hawkish rate-cut outlook earlier this week, fell to near two-month lows, with Latin American currencies on course to post their worst week for 2019.
Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales. In a securities filing, Petrobras, as the firm is commonly known, said second quarter net profit came to 18.87 billion reais ($4.92 billion). Adjusted for non-recurring items, net income would have come to 5.2 billion reais, Chief Executive Roberto Castello Branco said in written remarks accompanying the results.
Brazilian state-run oil firm Petrobras is studying a mass transfer of employees out of its Transpetro logistics unit, according to a document seen by Reuters, in a sign the company may be gearing up to privatize additional assets. The human resources departments of Petroleo Brasileiro SA, as the company is formally known, and Transpetro are developing an "action plan for the evaluation and possible return of (employees) ceded to Transpetro from the parent company," according to the document, dated July 24. It is common at Petrobras for employees to be hired by the parent company and later transferred to a subsidiary.
(Bloomberg) -- Two Iranian ships stranded off Brazil’s coast are refueled and ready to sail home with a cargo of corn after a court order forced the state-controlled oil company to set aside concern about the risk of U.S. sanctions.The ships were held up when Petroleo Brasileiro SA refused to provide fuel in early June, prompting Iranian threats to halt imports. The shipment is valued at 100 million reais ($26 million), according to an email from Kincaid Mendes Vianna, a law firm for Eleva, the Brazilian company that hired the vessels.Brazil’s Supreme Court ruled on Thursday that Petroleo Brasileiro was obligated to supply Eleva with fuel. Petrobras can’t be sanctioned by the U.S. because it was invoiced by Eleva, a Brazilian company that isn’t on any U.S. sanctions list, according to the law firm.Countries in the broader Middle East are major buyers of Brazilian corn, sugar and poultry. The economic ties set up a dilemma for President Jair Bolsonaro, who has shifted Brazil’s traditionally neutral foreign policy closer to the U.S. and Israel.To contact the reporter on this story: Sabrina Valle in Rio de Janeiro at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Tony Czuczka, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
SAO PAULO/RIO DE JANEIRO, July 26 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade. In an early Friday securities filing, Petrobras, as the firm is known, said total second-quarter oil and gas production hit 2.633 million barrels per day of oil equivalent (boe), up 3.8% from the previous quarter. Despite the increase, the market expected more of the company, which is dramatically ramping up production in Brazil's offshore 'pre-salt' area.