|Bid||7.99 x 1100|
|Ask||8.00 x 36900|
|Day's Range||7.79 - 8.02|
|52 Week Range||4.16 - 15.67|
|Beta (5Y Monthly)||2.05|
|PE Ratio (TTM)||10.86|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr. 28, 2020|
|1y Target Est||12.68|
Roberto Castello Blanco said at an event yesterday that Petrobras’s oil stockpiles are “paradoxically” very low, despite the brimming storage levels in other countries
Brazil's investors were ebullient today. Shares of Brazilian stocks of all sorts shot out of the gate Tuesday morning along with the broader market, with financial firms Banco Bradesco (NYSE: BBD) and Itau Unibanco (NYSE: ITUB), meat processor BRF (NYSE: BRFS), and oil major Petroleo Brasileiro (NYSE: PBR) (NYSE: PBR.A) all notching gains of roughly 10% or more in early trading.
Norway's Equinor ASA <EQNR.OL>, Brazil's Dommo Energia SA <DMMO3.SA> and Anglo-French firm Perenco are among at least six oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, according to industry and regulatory sources. Royal Dutch Shell PLC <RDSa.L> and Brazil's Enauta Participacoes SA <ENAT3.SA> have registered one case each.
Today with us is Roberto Castello Branco [Technical Issue] Andre Barreto Chiarini, Chief Logistics Officer, Carlos Alberto Pereira de Oliveira, Chief Exploration and Production Officer; [Technical Issue] Chief Digital Transformation and Innovation Officer; Roberto Ardenghy, Chief Institutional Relations Officer; Rudimar Lorenzatto, Chief Production Development Officer, as well as other company's executives. The presentation will be available on our website.
North American midstream companies Enbridge (ENB) and TC Energy (TRP) reported better-than-expected Q1 bottom line numbers, while Brazil's Petrobras (PBR) missed earnings estimate.
Petrobras (PBR) generated positive free cash flow for the 20th consecutive quarter, with the metric surging to $5,911 million from $3,132 million recorded in last year's corresponding period.
Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America's largest economy. On a Friday earnings call with analysts, executives credited the company's strong relationship with independent refineries in China's Shandong Province, known as "teapots,"' for allowing Petrobras to export a record amount of crude in recent months, even as some economies are effectively shut. Storage capacity for crude oil and gasoline is not proving to be an issue, they added.
Petrobras has warned its shareholders that the coronavirus pandemic could leave a permanent mark on the global economy, including on consumer behaviors, as it reported a first-quarter loss and massive writeoffs on assets that have stopped being economical
Brazil's Petrobras took a 65.3 billion real (9.2 billion pounds) impairment on its exploration and production assets on Thursday, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent. The impairment led Petroleo Brasileiro SA <PETR4.SA>, as the firm is formally known, to book a first-quarter net loss of 48.5 billion reais. Total impairments came to 57.6 billion reais for its deepwater assets, including the massive Marlim Sul oilfield, and 6.6 billion reais at its shallow-water fields.
(Bloomberg) -- Petrobras, the Brazilian sate-controlled oil producer, posted a 65 billion-real ($11 billion) impairment in the first quarter after revising down its outlook for crude prices.Even without the impairment, Petrobras reported a loss in the quarter on lower oil prices and the devaluation of Brazil’s real, the worst-performing major currency this year.Petrobras’ Ebitda, which excludes the devaluation, was ahead of expectations at 37.50 billion reais.While low oil prices have battered the entire industry, Petrobras has benefited from rebounding oil demand in China that helped bring total exports to a record in April. Since then, there are signs Petrobras is getting better prices for its crude from Chinese refiners as OPEC production cuts offer support.Petrobras said its divestment program remains intact, even though it may be delayed. It said it expects to close some refinery sales before the end of the year.A 3.8% drop in production in the quarter was from the least profitable fields, and output has rebounded in April.For more, click hereFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Petrobras, the Brazilian producer tapping some of the largest offshore oil finds this century, is confronting a Covid-19 outbreak in exploration platforms as the pandemic gains speed in the country.At the Xareu exploration project off the coast of Ceara, 42 out of 45 employees at two platforms tested positive and were transferred to a hotel to stay in isolation, the FUP federation of oil-worker unions said on its website Tuesday. Petrobras didn’t immediately respond to a request for comment on Xareu.The Rio de Janeiro-based state-controlled producer has the world’s largest fleet of deep-water production tankers, where workers operate in close conditions, similar to cruise ships that suffered outbreaks at the beginning of the pandemic. Brazil, which has the most cases in Latin America, has also suffered outbreaks at meat-packing and poultry facilities.Also see: In Gulf’s Oil Rigs, Crews Fight Virus to Keep Crude FlowingThe company has implemented fast testing before dispatching offshore oil workers. On Tuesday it said it has carried out more than 8,000 Covid-19 tests to date among staff and contractors, and was one of the first Brazilian companies to carry out testing on a large scale.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Lack of financing for the buyers of Brazil's Petroleo Brasileiro SA <PETR4.SA> refineries may extend the delay in the sale process, three people with knowledge of the matter said. Petrobras, as the company is known, had already extended the deadline for delivery of binding offers for the eight largest, first lot of refineries from early April to early June, following a plunge in oil prices. Petrobras referred to the latest filing postponing the bids, in which it didn't´t give a new firm deadline.
Brazilian state-run oil firm Petrobras has reversed most of its previously announced production cuts due to higher-than-expected demand for some fuels, it said on Monday, a surprising turnaround that may be tied to an aggressive bet on bunker fuel. In a Monday securities filing with first-quarter production figures, Petroleo Brasileiro SA <PETR4.SA>, as the firm is formally known, noted that it initially decided to cut April oil production to 2.07 million barrels per day (bpd). The reversal suggests Petrobras is confident in demand for its production mix even as rival oil majors scale back and the Organization of the Petroleum Exporting Countries orchestrates deep cuts in the face of rock-bottom oil prices.
Brazil’s offshore oil boom is under threat from low oil prices, and a poor demand outlook which have discouraged foreign investors to commit to long term projects
ExxonMobil (XOM) pares 2020 capital spending budget by 30%, while Equinor (EQNR) announced an oil discovery in the U.S. Gulf of Mexico.
The minutes reaffirmed the Fed's resolve to take any measures needed to stabilize the economy in the face the coronavirus pandemic, panic over which has wiped trillions off the global indices. "It seems as if the U.S. Federal Open Market Committee was pretty much in unison behind the broader decisions they've made," said Kevin Flanagan, head of fixed income strategy at Wisdomtree Asset Management, New York. Brazil's Bovespa climbed 3.5%, while most other regional stock indexes rose between 1% and 3.7%.
* Fitch downgrades Colombia's credit rating * BofA expects Mexican economy to shrink 8% in 2020 * Dollar unfazed by unemployment data * Oil price spike helps Brazil's Petrobras (Adds analyst comment, updates prices) By Ambar Warrick and Susan Mathew April 2 (Reuters) - Latin American stocks made small gains on Thursday in a volatile session, while most regional currencies weakened as a swathe of weak economic readings increased safe-haven demand for the dollar. With global infections now crossing the 1 million mark, a return to business as usual in the near term seems unlikely, with economic activity likely to contract further. Latam stocks rose about 1%, tracking some gains on Wall Street, while currencies fell 0.4%, with oil-sensitive players such as Mexico's peso and Colombia's peso failing to capitalize on a jump in oil prices.
A price war between the world's oil powerhouses is leaving many producers in Latin American struggling to cover production costs, boosting chances of output cuts and investment delays in coming months. Global oil price benchmarks have had their steepest declines in decades in a perfect storm of falling demand during the coronavirus epidemic and surging supplies after Russia and Saudi Arabia failed to reach a deal to extend output cuts.
The Zacks Analyst Blog Highlights: JPMorgan Chase, Mastercard, Qualcomm, Petrobras and Walgreens Boots Alliance