|Bid||14.56 x 27000|
|Ask||14.58 x 4000|
|Day's Range||14.52 - 14.90|
|52 Week Range||10.79 - 15.75|
|Beta (5Y Monthly)||1.97|
|PE Ratio (TTM)||19.89|
|Forward Dividend & Yield||0.57 (3.74%)|
|1y Target Est||18.32|
2020 could see a number of high-profile oil auctions, and where 2019 was a mixed bag in terms of asset assets, this year is shaping up to be more promising
The Saudi royal family celebrated, but it is hard for investors to assess the listing. Political incentives and the stock’s small float make it hard to argue this is a natural price.
Brazilian state-run oil firm Petrobras will produce more than 2.7 million barrels of oil equivalent per day (boepd) in 2019, with total production coming in on the upper end of the target range, an executive said on Wednesday. In its formal guidance, Petroleo Brasileiro SA, as the firm is formally known, predicted it would produce 2.7 million boepd in 2019, though actual production could vary 2.5% above or below the target.
Brazil's state-controlled oil company Petrobras SA is mulling construction of a new lubricant plant that could quadruple its production capacity by 2022, the company's refining chief said on Tuesday. Anelise Lara, Petrobras' refining and natural gas chief, told Reuters the company will invest about $400 million to build the new plant in the Comperj refinery, raising its lubricant production capacity to 225,00 cubic meters. When the Comperj plant is concluded, Petrobras plans to shut down its lubricant production unit at Reduc.
Brazilian state-run oil firm Petroleo Brasileiro SA said on Monday it will begin leasing its liquefied natural gas regasification terminal and an associated gas pipeline in the northeastern state of Bahia. Petrobras said it has initiated pre-bid procedures for parties interested in taking part in the auctions, which will be comply with state law. "The lease is in line with Petrobras' strategy of improving its capital allocation and building a favorable environment for new investors to enter the natural gas sector," it said in the statement.
The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday he wants to sell the company's stake in petrochemical company Braskem SA within 12 months, adding that he strongly disagreed with reported plans to delay the sale. On Monday, Reuters reported that creditors of corruption-ensnared construction conglomerate Odebrecht SA, which also has a large stake in Braskem, were in advanced talks to delay a sale for up to two years. "To me, it means they do not want to sell anything," CEO Roberto Castello Branco said during a meeting with investors in London.
* Petrobras rises 2%, says may divest billions more than forecast * Chile stocks, peso rise; central bank holds benchmark rate * Argentine c. Stocks took support from lingering optimism over the Sino-U.S. trade war, after a Bloomberg report as well as positive comments from U.S. President Donald Trump brewed some hope over a "phase-one" trade deal. Regional markets have also been propped up by some positive economic readings this week, with better-than-expected GDP data from Brazil, Latin America's largest economy, being the most notable.
(Bloomberg) -- While Brazil’s President Jair Bolsonaro recently welcomed an informal invitation to join OPEC, the boss of the country’s state-controlled energy company isn’t a fan of the idea and said it’s not a possibility right now.“To be a member of OPEC, or not, is not an option that’s being considered by the Brazilian government,” Petrobras Chief Executive Officer Roberto Castello Branco said Wednesday in an interview in New York.“I am a free marketer,” he added. “I am against cartels. Brazil can do better.”He made the comments as the Organization of Petroleum Exporting Countries prepares to meet in Vienna Thursday to decide on whether to persist with supply curbs. A committee that oversees its deal with non-members including Russia recommended the wider group adopt a Saudi Arabian proposal and cut its output quota by 500,000 barrels a day, delegates said.Brazil joining OPEC isn’t a new proposition -- former President Luiz Inacio Lula da Silva once toyed with the idea. Petroleo Brasileiro SA, as the state oil company is also known, has previously come out against the notion, saying its obligation is to investors and debt holders, and that the government doesn’t have the power to determine production levels of private operators.Bolsonaro said in October he got the invitation after meeting with senior officials from Saudi Arabia including Crown Prince Mohammed Bin Salman. Brazil’s oil output is set to grow strongly in the next few years as more of its offshore reserves are drilled, giving the country increasing clout in the global market.To contact the reporter on this story: Simon Casey in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Petrobras plans to pay its shareholders $34 billion in dividends over the next five years as it cuts debt and sells assets to shore up its finances.
NEW YORK/RIO DE JANEIRO, Dec 4 (Reuters) - Brazil's Petrobras could add several billion dollars of assets to its already ambitious five-year divestment plan, executives said on Wednesday, underlining the state-run oil company's rush to reduce its hefty debt load. In the company's 2020 to 2024 business plan released last week, Petroleo Brasileiro SA, as the company is formally known, said it would look to sell $20 billion to $30 billion of assets during that period, including eight refineries spread around Brazil. In a separate Wednesday presentation, released during Petrobras' New York Investors' Day, the company said it may add its Bolivian assets to the divestment program, as well as its stake in petrochemical firm Braskem SA, legacy deepwater oilfields and its remaining stake in fuel distribution firm, Petrobras Distribuidora SA, commonly known as BR Distribuidora.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
Norway's $1 trillion sovereign wealth fund has removed Brazilian oil firm Petrobras from a watchlist of firms that could be dropped as investments due to ethical concerns, the central bank said on Tuesday. Petrobras was put under observation in 2016 over corruption risks. The fund's ethics watchdog, the Council on Ethics, believed the risk of corruption at Petrobras was now reduced, the central bank, which manages the fund, said.
Brazil's state-controlled oil company Petroleo Brasileiro SA has selected four groups for the second round of bidding for four refineries up for sale, including China's Sinopec, Abu Dhabi's state investor and two Brazilian firms, according to four people with knowledge of the matter. Sinopec, Abu Dhabi's Mubadala Investment Co and Brazil's Ultrapar Participações SA and Raizen were chosen to go through to the next phase, they said.
Shares of Brazilian oil firm Petroleo Brasileiro SA slipped on Thursday after its oil and gas production outlook for next year disappointed analysts, despite ambitious long-term output forecasts in its new five-year strategic plan. Petrobras, as the state-run company is known, aims to produce 2.2 million barrels of oil per day (bpd) next year, below a prior outlook for more than 2.3 million bpd provided in the comparable strategic plan released last December. Preferred shares of Petrobras slid more than 1% in morning trade on the Sao Paulo stock exchange.
Brazilian gas company Copagaz expects to become the market leader for liquified petroleum gas (LPG) and triple its market share after it closes a deal to buy Liquigas, which state-giant Petrobras is selling, an executive told Reuters. Pedro Zahran Turqueto, the company's top executive for business development, said Copagaz should now have a 25% market share in LPG.