PETR4.SA - Petróleo Brasileiro S.A. - Petrobras

Sao Paolo - Sao Paolo Delayed Price. Currency in BRL
-0.07 (-0.25%)
At close: 5:11PM BRT
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Previous Close27.51
Bid27.42 x 0
Ask27.55 x 0
Day's Range27.37 - 27.60
52 Week Range17.65 - 29.60
Avg. Volume43,786,663
Market Cap376.946B
Beta (3Y Monthly)1.79
PE Ratio (TTM)15.66
Earnings DateN/A
Forward Dividend & Yield0.99 (3.58%)
Ex-Dividend Date2019-05-22
1y Target EstN/A
  • Bloombergyesterday

    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;Fabiana Batista in Sao Paulo at;Sabrina Valle in Rio de Janeiro at;Kevin Varley in Washington at kvarley@bloomberg.netTo contact the editors responsible for this story: Pratish Narayanan at, Millie Munshi, Carlos CaminadaFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Iran grain ships stuck in Brazil without fuel due to U.S. sanctions
    Reuters3 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.

  • Brazil's High-Flying Stocks May Gain Altitude as Rates Decline
    Bloomberg6 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, Scott Schnipper, Richard RichtmyerFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Will Shell’s Q2 Earnings Outperform Peers?
    Market Realist9 days ago

    Will Shell’s Q2 Earnings Outperform Peers?

    Shell’s Q2 earnings are expected to rise year-over-year.

  • Bloomberg12 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, Alec D.B. McCabe, Brendan WalshFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Is Petrobras Stock the "Best Story" in Big Oil?
    Motley Fool18 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.

  • Brazil Bets Storing Oil Near Teapots Will Boost China Sales
    Bloomberg23 days ago

    Brazil Bets Storing Oil Near Teapots Will Boost China Sales

    (Bloomberg) -- Brazil is making it easier for China’s teapots to buy Lula crude as it seeks to win more market share in the world’s biggest oil importer.State-controlled Petroleo Brasileiro SA has rented offshore tanks in Qingdao in the eastern province of Shandong and delivered the first oil to them on Wednesday, Qingdao Port International said in a statement. Having local storage allows Petrobras to sell smaller volumes to the independent refineries, known as teapots, many of which are clustered in Shandong.Brazil’s crude exports to China have risen over the past few years and it’s vying with Iraq and Angola to be the third-biggest supplier after Russia and Saudi Arabia. U.S. sanctions on Iran and Venezuela and production curbs by the Organization of the Petroleum Exporting Countries and its allies are providing the South American country, which isn’t an OPEC member, with an opening.The Shandong storage “will provide a larger platform for Brazilian oil and promote its sales,” Petrobras director Anelise Lara said in the Qingdao Port statement. The company is seeking to “offer more flexible ways” for Chinese buyers to purchase its crude, she said.China’s teapots processed around a third of the country’s oil imports last year. They’ve been leading a surge in purchases from Brazil in 2019 as strong profits from turning the country’s viscous, low-sulfur crude into diesel boosted buying interest. The relatively higher cost of similar-quality oil from other countries prompted the teapots to snap up supplies from the Latin American nation. The Lula grade dominates Brazilian exports to China.The Petrobras move is being driven by the requirements of the Chinese teapots and a global glut that’s challenging oil producers, said Li Li, an analyst at commodities researcher ICIS-China. The trade war and U.S. sanctions on Iran and Venezuela present Brazil with a good opportunity to expand its presence in China, she said.Chinese crude imports from Brazil reached a record 4 million metric tons in February and have averaged 3.5 million a month so far this year. That compares with 2.6 million a month in 2018 and 1.9 million in 2017.(Updates with comment from analyst in 6th paragraph.)To contact Bloomberg News staff for this story: Alfred Cang in Singapore at;Sarah Chen in Beijing at schen514@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at, Andrew JanesFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Has Total’s Short Interest Risen?
    Market Realistlast month

    Has Total’s Short Interest Risen?

    Since April 1, Total's (TOT) short interest has risen from 0.04% to 0.10%, while its stock price has fallen 2.0%.

  • Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe
    Reuterslast month

    Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe

    Brazil's Petrobras found suspicious activity in its oil trading business - and failed to stop it - six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters. A 2012 internal probe at the state-run oil company turned up more than two dozen instances in which traders in Petrobras' Singapore office overpaid for fuel, the people said. Some employees in 2013 recommended halting transactions with one particular fuel brokerage that had consistently sold fuel to Petrobras at above-market prices, according to the people.

  • Reuters2 months ago

    UPDATE 1-Brazil court ruling affecting Petrobras sales pushed to Thursday

    Brazil's Supreme Court on Wednesday postponed a decision on whether asset sales by state companies require authorization by Congress, pushing to Thursday a ruling with major implications for the divestment plans of state-run oil company Petroleo Brasileiro SA, or Petrobras. The two who decided in favor of divestments passing through Congress had previously ruled in a similar fashion, and their Wednesday decisions had been widely expected. Reuters reported earlier on Wednesday that Petrobras expects the Supreme Court to narrowly allow it to proceed with asset sales.

  • Reuters2 months ago

    Brazil's Petrobras expects narrow win in supreme court decision over asset sales -sources

    Brazil oil producer Petroleo Brasileiro expects to narrowly win a supreme court decision that would allow it to proceed with asset sales, according to two company sources involved in the case, freeing up billions of dollars. Last month, another Supreme Court (STF) minister, Edson Fachin, issued a decision upholding Lewandowski's opinion, calling the STJ decision contradictory.

  • Reuters2 months ago

    UPDATE 1-Texas environmentalists plan lawsuit against Valero for pollution

    Three Texas environmental groups notified Valero Energy Corp on Wednesday of plans to file a lawsuit under the U.S. Clean Air Act for pollution at the company's Port Arthur, Texas, refinery, the organizations said. Environment Texas, the Sierra Club and the Port Arthur Community Action Network allege over 600 violations of pollution limits by the release of hazardous chemicals like sulfur dioxide, hydrogen sulfide and particulates from the refinery since 2014.

  • Thomson Reuters StreetEvents2 months ago

    Edited Transcript of PETR4.SA earnings conference call or presentation 8-May-19 2:00pm GMT

    Q1 2019 Petroleo Brasileiro SA Petrobras Earnings Call

  • Reuters2 months ago

    EXCLUSIVE-FBI targets Johnson & Johnson, Siemens, GE, Philips in Brazil graft case -Sources

    The U.S. FBI is investigating corporate giants Johnson & Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters. Brazilian prosecutors suspect the companies channeled illegal payoffs to government officials to secure contracts with public health programs across the South American country over the past two decades. Brazilian authorities say more than 20 companies may have been part of a "cartel" that paid bribes and charged the government inflated prices for medical gear such as magnetic resonance imaging machines and prosthetics.

  • Reuters2 months ago

    INSIGHT-Mexico's rising oil nationalism faces debt-rating crisis

    Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country's oil wealth. The leftist oil nationalist's ambitions include building a new $8 billion refinery, refurbishing existing refineries and reversing a steady decline in crude production. The problem is that such expensive plans - for the world's most indebted oil company - have alarmed credit rating agencies, which are threatening to downgrade Pemex bonds to "junk" status.

  • Petroleo Brasileiro S.A. - Petrobras (PETR4) Q1 2019 Earnings Call Transcript
    Motley Fool2 months ago

    Petroleo Brasileiro S.A. - Petrobras (PETR4) Q1 2019 Earnings Call Transcript

    PETR4 earnings call for the period ending March 31, 2019.

  • Oilprice.com2 months ago

    “The Stock Is Cheap”: Brazil’s Hedge Funds Jump Into Petrobras

    Petrobras’ most recent news has put investors on edge, but that hasn’t stopped hedge funds from placing big bets on Brazil’s oil giant

  • Reuters2 months ago

    UPDATE 1-Nigerian court dismisses oil export claims against Eni, Petrobras

    A Nigerian court on Wednesday dismissed government claims that subsidiaries of Eni and Petrobras illegally exported crude oil to the United States, but a lawyer representing authorities in the West African country said an appeal had been launched. Crude oil sales are the mainstay of Africa's biggest economy, making up two-thirds of the country's revenue and around 90 percent of foreign-exchange earnings. In a lawsuit filed in 2016, Nigeria alleged that a number of companies exported a total of 57 million barrels of crude oil to the United States between 2011 and 2014.

  • Reuters2 months ago

    UPDATE 3-Brazil corruption probe targets FX desk of Banco Paulista

    Brazilian police on Wednesday arrested three executives at a small Sao Paulo bank in the latest phase of a sweeping investigation into corruption and money laundering. Prosecutors running the latest phase of the so-called "Car Wash" probe allege that Banco Paulista SA was part of a scheme orchestrated by construction conglomerate Odebrecht SA to launder up to 328 million reais ($83 million) from 2009 to 2015. The three executives are still employees of Banco Paulista, including the general manager and two foreign exchange employees.

  • Reuters2 months ago

    Petrobras plan to end refining monopoly in Brazil comes with caveats

    Brazil's Petroleo Brasileiro SA drew plaudits from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some $15 billion. "I think it's a little bit for show to make it seem like the refining market is being opened up," said Alberto Barriga, a former refining executive at Petrobras and a partner at consultancy Bizup. In response to questions from Reuters, Petrobras said its refineries in Sao Paulo and Rio de Janeiro will be subject to competition from fuel imports and cabotage, or the transport of fuel from other refineries within Brazil.

  • BP’s Stock Price Forecast Range after Its Q1 Earnings
    Market Realist3 months ago

    BP’s Stock Price Forecast Range after Its Q1 Earnings

    BP’s Q1 Earnings Beat the Estimate, Stock Rose 2%(Continued from Prior Part)Implied volatility BP (BP) posted its first-quarter earnings, which beat analysts’ earnings expectation. The stock reacted positively to the news. In this part, we’ll

  • Reuters3 months ago

    Chevron completes purchase of Houston-area refinery from Brazil's Petrobras

    Chevron Corp completed a $350 million purchase of a refinery in the Houston suburb of Pasadena, Texas, from Brazil's national oil company Petrobras , Chevron said in a statement. The sale was agreed to in January, but Chevron put the transfer of the 112,229 barrel-per-day plant's ownership on hold on April 2, telling Petrobras it had to prove the refinery would operate as promised, sources told Reuters. The Pasadena refinery is the second on the U.S. Gulf Coast for Chevron, which is based in San Ramon, California.

  • Are Analysts Positive on Chevron following Its Q1 Results?
    Market Realist3 months ago

    Are Analysts Positive on Chevron following Its Q1 Results?

    Chevron Stock Falls on Dull Q1 Numbers(Continued from Prior Part)Analysts’ ratings for ChevronChevron (CVX) posted its first-quarter earnings results on April 26, 2019. Its earnings fell but surpassed Wall Street analysts’ consensus estimate.