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
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- PBR Awards $2.8B Contracts for 12 New PSVs to Bram Offshore & Starnav [Yahoo! Finance]Yahoo! Finance
- Petrobras Awards Major Offshore Contract to SLB Worth $800 Million [Yahoo! Finance]Yahoo! Finance
- SLB OneSubsea awarded subsea boosting contract by Petrobras for the Búzios field, offshore Brazil [Yahoo! Finance]Yahoo! Finance