PBR - Petróleo Brasileiro S.A. - Petrobras
| Previous Close | 16.13 |
| Open | 16.10 |
| Bid | 15.99 x 46000 |
| Ask | 16.01 x 43500 |
| Day's Range | 15.90 - 16.11 |
| 52 Week Range | 10.16 - 17.90 |
| Volume | 10,049,375 |
| Avg. Volume | 14,761,290 |
| Market Cap | 99.553B |
| Beta (3Y Monthly) | 0.34 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.20 (1.26%) |
| Ex-Dividend Date | 2019-05-22 |
| 1y Target Est | 19.60 |
- Bloomberg•23 hours ago
U.S. Sanctions Strand Iran Ships Ferrying Corn From Brazil
(Bloomberg) -- U.S. sanctions on Iran are not only reverberating through the oil world, but also the agricultural market in Latin America.At least two Iranian vessels set to carry Brazilian corn are stranded off the Latin American nation’s coast because they can’t get fuel, according to the port authority at Paranagua, about 450 kilometers (280 miles) south of Sao Paulo. State-controlled oil company Petroleo Brasileiro SA said it won’t supply the ships -- -- which have been floating for over a month -- due to the risk of U.S. sanctions.Brazil’s Supreme Court may decide if the ships can be fueled. In a statement sent to the Supreme Court on Friday night, the attorney general’s office said Petrobras is not obligated to fuel the ships as the company responsible for them is able to buy fuel from others suppliers. In addition, the attorney generalsaid the diplomatic issue involving the matter should prevail over private interests.Iran was the main destination of the country’s corn in the past year, with imports totaling 6 million metric tons, according to government data.The uncertainty surrounding the fate of the vessels is the latest evidence of how the Trump administration’s policies are rattling commodities markets across the globe. The U.S. trade war with China has already led to a shift in trade flows of everything from soybeans to sorghum. Meanwhile, American sanctions aimed at squeezing Iran’s revenue have left some of the biggest oil buyers searching for supplies from elsewhere.MV Bavand, carrying 48,000 metric tons of corn, should have set off from Paranagua to Iran on June 8, the port authority said in an email. The ship had left Imbituba port, in Brazil’s Santa Catarina state, on May 15 after loading, according to vessel data compiled by Bloomberg.MV Termeh has been waiting for fuel supply since June 9 to head to Imbituba Port, where it will be loaded with corn and then head to Iran, according to the port authority. It unloaded a cargo in Sao Francisco do Sul Port in Santa Catarina on June 1, data compiled by Bloomberg show.“If Petrobras loads these ships, it would be subject to the risk of being included” in the U.S. sanctions list, which could result in significant losses for the company, the Brazilian state company said in a statement. “In addition, there’s information that these ships came from Iran loaded with urea, which is subject to U.S. sanctions.”Reuters reported on the stranded ships on Thursday.Iran and the U.S. have been at loggerheads since last year, when Donald Trump withdrew the U.S. from a 2015 nuclear agreement with the Islamic Republic he called the “worst deal ever.” In May, the administration refused to extend waivers to eight governments for Iranian oil purchases, ratcheting up the pressure on the country’s already battered economy.Iran’s willing to meet with U.S. senators to discuss possible ways out of the dispute, the New York Times reported on Thursday. But also said the nation’s escalation of its nuclear enrichment program could be reversed if the U.S. drops sanctions that Trump imposed after withdrawing from the nuclear agreement.“This is an isolated episode that won’t impact the rest of Brazil exports to Iran,” Jose Augusto de Castro, president of Brazilian Foreign Trade Association said in a phone interview.Brazil’s exports to Iran total about $2 billion a year, with shipments mostly comprised of commodities like corn, meat and sugar, according to the association known as AEB. The Latin American country frequently receives ships from Iran, and Petrobras provides fuel for the vessels on a regular basis, Castro said.The restriction only applies to these specific ships hired by a Santa Catarina-based trader as the Iranian company responsible for the vessels is named in the U.S. sanctions list, he said.“Brazil has no interest in restricting exports to Iran, which has a strong import potential,” Castro said.The risk involved in hiring sanctioned ships is solely for the Brazilian exporter company, Petrobras said by email.(Updates with attorney general’s statement in the 3rd paragraph.)To contact the reporters on this story: Tatiana Freitas in São Paulo at tfreitas4@bloomberg.net;Fabiana Batista in Sao Paulo at fbatista6@bloomberg.net;Sabrina Valle in Rio de Janeiro at svalle@bloomberg.net;Kevin Varley in Washington at kvarley@bloomberg.netTo contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net, Millie Munshi, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•3 days ago
Iran grain ships stuck in Brazil without fuel due to U.S. sanctions
SAO PAULO/RIO DE JANEIRO (Reuters) - Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States. The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertiliser. Food is not covered by U.S. sanctions, and Iran is one of the largest buyers of Brazil's agricultural commodities, importing more than 2.5 million tonnes of Brazilian corn so far this year — more than any other country.
- Reuters•4 days ago
Brazil's Petrobras in talks to give back licenses in Uruguay- filing
Brazil's state-controlled oil company Petroleo Brasileiro SA is in talks with the Uruguayan government to give back licenses to operate natural gas distributors in the country, the company said in a securities filing late on Tuesday. The CEO of Petrobras, as the company is known, Roberto Castello Branco met on Tuesday with Uruguayan president Tabare Vázquez to discuss the issue, the company said. Petrobras said the licenses to operate the companies will be given back to the Uruguayan government by the end of September and both parties agreed to end litigation involving the licenses.
- PR Newswire•5 days ago
Petrobras Announces Early Tender Results And Early Settlement For Waterfall Offers
RIO DE JANEIRO , July 16, 2019 /PRNewswire/ -- Petróleo Brasileiro S.A. – Petrobras (" Petrobras ") (NYSE: PBR) announced today the early results of its previously announced debt tender offers ...
- Reuters•6 days ago
Brazil plan to open gas sector seen luring Naturgy, Engie, others
Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil's Cosan SA and Spain's Naturgy Energy Group SA, are among the companies potentially interested in the segment, which also include Portugal's Galp , France's Engie and Spain's Repsol , consultants, lawyers and other experts said. The plan to overhaul Brazil's domestic natural gas market, approved by Brazil's energy policy council in late June, calls for companies with a "dominant position" to sell all of their stakes in distributors.
- Reuters•6 days ago
Petrobras says potential exit from Brazil bourse's good governance program would not weaken co
Brazilian state-run oil firm Petroleo Brasileiro SA said a potential end to its participation in a program certifying good governance set up by the Sao Paulo stock exchange would not weaken its corporate governance, according to a securities filing on Monday. Reuters reported on Friday that Petrobras, as the company is known, is considering exiting from a Brazil bourse program that certifies good governance and limited political interference in state companies. The company said that many important aspects of the program are already written into Petrobras bylaws.
- Bloomberg•6 days ago
Brazil's High-Flying Stocks May Gain Altitude as Rates Decline
(Bloomberg) -- Brazilian stocks have extended their year-to-date gain to about 20% on renewed optimism that Latin America’s largest economy will finally overhaul its heavily indebted social security system. But the rally that has pushed the market to record highs still may have some juice left.The benchmark Ibovespa index may climb 11% from current levels to about 115,000 by the end of 2019, according to the average forecast of 10 strategists surveyed by Bloomberg. Their targets range from 105,000 to 123,000, implying an increase of as much as 18%. That would mark the fourth year of double-digit gains for Brazilian stocks.Reforming pensions should allow Brazil’s central bank to reduce the benchmark interest rate below the current, historically low 6.5%, pushing more funds into the local stock market, strategists say. While the domestic swap rates curve is pricing in an easing cycle of 108 basis point until the end of the year, some of the nation’s fund managers and economists see room for the Selic rate to reach 5%.“A strong fiscal anchor will likely open room for deeper interest rate cuts,” Bradesco BBI analysts led by Andre Carvalho wrote in a July 10 report, raising their target for the Ibovespa to 122,000 from 116,000. “Low interest rates should help boost the capital markets and M&A activities, as well as reduce financial expenses and increase the attractiveness of bond-like stocks,” Carvalho said.Bank of America has reiterated its overweight rating for Brazilian stocks in its Latin American portfolio, seeing the Ibovespa at 120,000 in the end of this year. “Flows into equities should keep supporting the market,” BofA’s Latin America equity strategist David Beker wrote in a note.Passing pension reform is also expected to unlock a long-awaited rebound in Brazil’s economy. Since the beginning of the year, economists have been lowering their estimates for gross domestic product in 2019, as doubts about the country’s fiscal outlook have kept investments on hold.Here’s a list of strategists’ top picks in Brazil:Bradesco BBIBanco do Brasil SA, Itau Unibanco Holding SA, B3 SA, CVC Brasil Operadora e Agencia de Viagens SA, Lojas Renner SA, Energisa SA, Cia de Saneamento Basico do Estado de Sao Paulo, Vale SA, Gerdau SA and Petroleo Brasileiro SABTG PactualPetroleo Brasileiro SA, Localiza Rent a Car SA, Banco Bradesco SA, Lojas Renner SA, Rumo SA, Cosan SA, Oi SA, Ambev SA, JBS S and Totvs SAItau BBABanco do Brasil SA, Banco Bradesco SA, Cyrela Brazil Realty SA, Cia de Saneamento de Minas Gerais, Kroton Educacional SA, Rumo SA, Petroleo Brasileiro SA, Multiplan Empreendimentos Imobiliarios SA, Vale SA and Azul SAJPMorganBanco Bradesco SA, IRB Brasil Resseguros, Cia Brasileira de Distribuicao, Vale SA, Petroleo Brasileiro SA, Rumo SA, Randon SA and Cyrela Brazil Realty SASafraItau Unibanco Holding SA, Banco Bradesco SA, Banco do Estado do Rio Grande do Sul SA, Banco do Brasil SA, B3 SA, Cia Brasileira de Distribuicao, Localiza Rent a Car SA, Vale SA, Bradespar SA, Cia Siderurgica Nacional SA, Petrobras Distribuidora SA, Telefonica Brasil SA, Rumo SA, Energisa SA and EZ Tec Empreendimentos e Participacoes SATo contact the reporter on this story: Vinícius Andrade in São Paulo at vandrade3@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Scott Schnipper, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•9 days ago
Exclusive: Petrobras eyes exit from Brazil bourse's good governance program - sources
Brazilian state-run oil firm Petrobras is considering an end to its participation in a program certifying good governance and limited political interference in state companies set up by the Sao Paulo stock exchange, two sources told Reuters. Chief Executive Roberto Castello Branco is pushing the possibility of exiting the Distinction in Governance Program for State-Run Firms, established by exchange operator B3 SA, said the people familiar with deliberations, who requested anonymity to discuss confidential matters. Petrobras added that improvements to its compliance protocols have "stood out" in recent years and that many requirements of the B3 program are already part of Brazilian law, so leaving the program would not necessarily weaken the company's corporate governance.
- Market Realist•9 days ago
Will Shell’s Q2 Earnings Outperform Peers?
Shell’s Q2 earnings are expected to rise year-over-year.
- PR Newswire•11 days ago
Petrobras Announces Final Results of its Any and All Offers and Confirms the Tender Cap for Waterfall Offers
RIO DE JANEIRO , July 10, 2019 /PRNewswire/ -- Petróleo Brasileiro S.A. – Petrobras (" Petrobras ") (NYSE: PBR) today announced the final results of the previously announced offers to purchase ...
- Reuters•11 days ago
REFILE-Privatization to dominate capital markets, M&A in Brazil this year
As court injunctions delayed asset sales by oil company Petroleo Brasileiro SA and discussion of pension reform dragged on in Congress, the volume of mergers and acquisitions in the first half of the year fell 19% to $20.8 billion, according to Refinitiv data. After Brazil's Supreme Court finally cleared the way for Brazil's largest deal this year, the sale by Petrobras of gas pipeline network TAG to France's Engie SA for $8.6 billion, banks expect the volume of privatization-related M&A to grow.
- Bloomberg•12 days ago
Century Bonds Having a Moment as JPMorgan, Pictet Load Up
(Bloomberg) -- Century bonds are having a moment.Investors scored an average return of 19% this year on 100-year debt from the three most prominent issuers: Argentina, Mexico and state-controlled Petroleo Brasileiro SA. That’s almost double the gain for the benchmark emerging-market debt index.A dovish turn by central banks around the world has pushed yields down globally, prompting firms such as JPMorgan Asset Management, Grantham Mayo Van Otterloo & Co. and Pictet Asset Management Ltd. to seek longer-dated debt with higher payouts. The century bonds also offer higher duration, meaning they’re likely to outperform as rates fall. Worldwide, negative-yielding debt now stands at a record $13 trillion.“There’s been a scramble for any bond with some spread -- the longer, the better,” said Guido Chamorro, a senior investment manager at Pictet in London, who’s overweight Mexico century bonds. His emerging-market debt fund has topped 75% of peers this year, according to data compiled by Bloomberg.“We wish more sovereigns had century bonds,” said Chamorro, who favors long-dated investment grade debt. Mexico’s 100-year securities look “very attractive” compared with 30-year notes from the sovereign or state oil firm Pemex, he said. Chamorro says he’s market-weight on Argentina’s century bonds, citing the lack of yield premium to shorter-dated debt. He doesn’t have exposure to the Petrobras notes.Granted, century bonds by their very nature are among the riskiest debt securities in the world. They would “get slaughtered” if the Fed shocks markets by not lowering borrowing costs at the end of July, according to Hari Hariharan, chief executive officer of New York-based NWI Management LP. He still favors Petrobras’s 100-year debt on the possibility of bond buybacks.Tina Vandersteel, a money manager at GMO in Boston, said she prefers Mexico’s 100-year securities over Argentina’s for the same reason as Chamorro. Assuming global monetary easing isn’t fully priced in, century bonds could stand to benefit more, she said.Zsolt Papp, a London-based money manager at JPMorgan Asset Management, said even though Argentina’s yield curve is inverted, the nation’s 100-year notes could outperform on the prospect of President Mauricio Macri’s re-election. The bonds slid as low as 66 cents on the dollar in May amid a selloff in Argentine assets before rebounding. Papp said longer-duration debt will benefit from a Fed cut this month and monetary easing measures by the European Central Bank.“The Fed will likely remain accommodative,” he said. “That’s good for EM and century bonds.”(Adds that Argentine bonds slid in May in eighth paragraph.)To contact the reporter on this story: Ben Bartenstein in New York at bbartenstei3@bloomberg.netTo contact the editors responsible for this story: Julia Leite at jleite3@bloomberg.net, Alec D.B. McCabe, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire•12 days ago
Petrobras Announces Expiration And Expiration Date Results Of Its Any And All Tender Offers
RIO DE JANEIRO, July 8, 2019 /PRNewswire/ -- Petróleo Brasileiro S.A. – Petrobras ("Petrobras") (PBR) today announced the expiration and expiration date results of the previously announced offers to purchase (the "Offers") by its wholly-owned subsidiary Petrobras Global Finance B.V. ("PGF"), of any and all of its outstanding notes set forth in the table below (the "Notes"). The Offers were made pursuant to the terms and conditions set forth in the offer to purchase dated July 1, 2019 (the "Offer to Purchase" and, together with the accompanying notice of guaranteed delivery, the "Offer Documents").
- Reuters•13 days ago
UPDATE 1-Brazil's Petrobras strikes deal with regulator to sell natgas assets
Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday. Petrobras, as the company is commonly known, said it had pledged to sell stakes in pipeline networks including a 10% stake in Nova Transportadora do Sudeste (NTS) SA, 10% in Transportadora Associada de Gas (TAG) SA and 51% in Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) SA. "The objective of the agreement is to preserve and protect competitive conditions, in light of the opening of the Brazilian natural gas market, to incentivize the entry of new market actors, as well as suspend Cade's administrative procedures investigating Petrobras' actions in the sector," the company said in its filing.
- Reuters•16 days ago
Brazil's Petrobras puts offshore gas fields, exploration bloc up for sale
Brazilian state-run oil firm Petroleo Brasileiro SA has put its Peroa and Cangoa shallow-water natural gas fields and a deepwater exploration concession known as Malombe in the state of Espirito Santo up for sale, the company said. In a securities filing, Petrobras, as the company is known, said it was beginning the teaser phase of the sale process, in which it publicly releases basic information about the assets. Peroa and Cangoa produce about 900,000 cubic meters of gas per day and Malombe is expected to be declared commercially viable in the second half of 2019, the company said.
- Reuters•17 days ago
UPDATE 1-Dozens arrested in Rio for murder, extortion of Petrobras contractors
Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight how South America's third largest city and suburbs have struggled with the growing power of so-called militias — criminal groups run by retired and off-duty police officers dominating distribution of utilities and basic goods for millions of residents. The operation also underscores the threat of organized crime to Brazil's fast-growing oil and gas sector.
- Reuters•17 days ago
Dozens arrested in Rio for murder, extortion of Petrobras contractors
Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight how South America's third largest city and suburbs have struggled with the growing power of so-called militias — criminal groups run by retired and off-duty police officers dominating distribution of utilities and basic goods for millions of residents. The operation also underscores the threat of organized crime to Brazil's fast-growing oil and gas sector.
- Reuters•17 days ago
Rio police arrest over 40 for extorting Petrobras contractors, murdering opponents
Police in Rio de Janeiro arrested 43 people on Thursday for allegedly taking part in a murderous gang that extorted companies providing services to state-run oil company Petrobras and established a secret cemetery where it disposed of rivals. The arrests underline the growing power of militias in and around South America's third largest city, comprised in part of retired and off-duty police officers, who control the distribution of utilities and basic goods for millions of residents. It also illustrates the growing threat of militias and other organized crime groups to parts of Brazil's oil and gas sector.
- Motley Fool•18 days ago
Is Petrobras Stock the "Best Story" in Big Oil?
Merrill Lynch thinks it just might be. Let's find out if the analyst's right.
- Reuters•18 days ago
Petrobras details distribution unit share offering, sets date for late July
Brazilian state-run oil firm Petroleo Brasileiro SA is planning to privatize its fuel distribution unit in a share offering in late July, the company said, in a process that would raise up to 9.28 billion reais ($2.41 billion) considering Tuesday's closing price. In a prospectus released early on Wednesday by Petrobras, as the firm is known, the company released the long-awaited details of a share offering that would effectively privatize Petrobras Distribuidora SA. According to the prospectus filed with Brazilian securities industry watchdog CVM, the firm will sell at least 25% of Petrobras Distribuidora's shares, a proportion that could increase to 33.75% through overallotment provisions.
- Reuters•19 days ago
Brazil's Petrobras shakes up trading unit amid increasing exports
RIO DE JANEIRO/HOUSTON, July 2 (Reuters) - Brazil's Petroleo Brasileiro SA is reorganizing its trading business, the company told Reuters on Monday, as the state-run oil firm seeks to best take advantage of an expected increase in oil and gas exports. Petrobras, as the company is widely known, is dividing its marketing and trading division into a domestic unit and an international unit, the company said in a statement, after two sources told Reuters of the changes. "Petrobras is splitting its Marketing and Trading area into Trading in Foreign Markets (CME) and Trading in Domestic Markets (CMI)," the company said.
- Zacks•19 days ago
Oil & Gas Stock Roundup: Shell's Canada Asset Sale, Marathon Oil's UK Exit & More
Royal Dutch Shell (RDS.A) agreed to sell gas assets in Alberta for C$190 million, while Marathon Oil (MRO) closed the divestment of its North Sea assets.
- Reuters•20 days ago
CORRECTED-MOVES-Former Petrobras CEO Ivan Monteiro appointed as Nubank risk committee member
Brazilian financial startup Nubank has appointed former Petroleo Brasileiro SA's Chief Executive Ivan Monteiro as a member of its risk committee and finance consultant, it said on Monday in a statement. Monteiro's hiring comes at a time that Nubank is broadening its product offering beyond credit cards and also expanding from Brazil to Mexico and Argentina. Monteiro joined Petrobras, as the oil company is known, in 2015 as chief financial officer and was tapped as CEO in June 2018.
- PR Newswire•20 days ago
Petrobras Announces Commencement Of Cash Tender Offers
The Tender Offers are being made pursuant to the terms and conditions set forth in the offer to purchase, dated July 1, 2019 (the "Offer to Purchase" and, together with the accompanying notice of guaranteed delivery and related letter of transmittal, the "Tender Offer Documents").
