Petrobras: Bears Watching, An Entry Point Could Be In Sight [Seeking Alpha]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: Seeking Alpha
SummaryPetrobras is the national oil company of Brazil with trillions of dollars worth of deepwater assets.The stock is down due to endemic corruption issues in Brazil, and the glut of crude oil on the market now.We think the stock could appear within a buy-zone soon and will discuss why.IntroductionPetrobras (PBROperation CarwashSOURCEAdd to that the worker strikes (Brazil has verypowerful unionsIt is fair to ask why a company with the backing of its national government and world-class assets that produce a little over 3 mm BOEPD has such a low valuation.SourceEndless and deeply rooted corruptionA history and expectation of corruption, primarily. A ~20% drop in the Brazilian real over the past 3 months hasn't helped either. Corruption is not the exception in Latin America, it is the rule. Even now, after years of government oversight, I will guarantee you there is another scandal brewing and that's the reason to only invest in PBR when it is at or near all-time lows. Close to where i
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News
- Petrobras (PBR) Sells Two Campos Basin Fields to Perenco [Yahoo! Finance]Yahoo! Finance
- Petrobras unit to launch by May process to contract four vessels [Reuters]Reuters
- Petrobras' Prates Aligns Himself With Lula to Boost Shipbuilding [BNN Bloomberg (Canada)]BNN Bloomberg
- Petrobras' (PBR) Buzios Field Achieves Production Milestone [Yahoo! Finance]Yahoo! Finance
- Brazil faces Indigenous resistance over plans to drill for oil in Amazon rainforest [FOX News]FOX News