Petroleo Brasileiro Petrobras SA Analyst Notes On April 8, 2014, Petroleo Brasileiro Petrobras SA (Petrobras) released its monthly production report for March 2014.
The Company stated that it broke important records in pre-salt, in refinery throughput, in natural gas delivery, and in fertilizer production during the month.
According to the Company, the average monthly oil output from pre-salt layer reached 387,000 barrels of oil per day in March 2014, a new monthly production record. The Company added that it has also set up a new refining record with a total production of 2,151,000 barrels per day, equal to a volume of 12,000 barrels, beating the previous record of 2,139,000 set in July 2013. Petrobras stated that it has created a new milestone in natural gas by producing a total of 101.1 million cubic meters of the product on March 26, 2014. The full analyst notes on Petrobras are available to download free of charge at:http://www.analystsreview.com/1080-PBR-14Apr2014.pdf
While many investors are right to consider continued governmental intervention as a huge potential negative, I believe that the current valuation of the energy giant more than compensates for this drawback. With shares being valued at a near 40% discount to net assets, the downside risk appears to be largely outweighed by the company's future operating potential under a normalized earnings scenario. For this reason, I would recommend shares of Petrobras as a strong buy at current levels.
Petrobras-Aktie günstig bewertet Aus Bewertungsgesichtspunkten spricht viel dafür, ein Investment ins Auge zu fassen. Die Investmentbank Morgan Stanley weist beispielsweise darauf hin, dass die Aktie mit einem Kurs-Gewinn-Verhältnis (KGV) von 7,9 günstig bewertet. Dieses KGV bedeutet einen Abschlag von 35 Prozent gegenüber dem 15-Jahres-Durchschnitt. Diese niedrige Bewertung dürfte den Aktienkurs vor einem weiteren deutlichen Rückgang schützen.
Korruptionsvorwürfe sorgen dafür, dass das Unternehmen seine Zahlen nur mit großer Verzögerung liefert. Würde Petrobras beispielsweise seine Jahreszahlen nicht bis Ende Juni veröffentlichen, können Gläubiger ihre Anleihen kündigen. 50 Milliarden Dollar würden dann fällig werden. Im besten Fall steht dann eine massive Kapitalerhöhung an und somit eine Verwässerung für Altaktionäre. Im schlechtesten Fall könnte Petrobras sogar verstaatlicht werden. LA 06.03.2015
(Reuters) - State-controlled Petróleo Brasileiro SA has hired Itaú BBA SA to handle the sale of gasoline stations and assets in the natural gas distribution sector, as the company seeks to raise $13.7 billion from the disposal of non-core assets, a source with knowledge of the matter said on Tuesday.
Itaú BBA will help Petrobras fully or partially exit the natural gas distribution sector and sell hundreds of gasoline stations it owns in Argentina, Colombia, Paraguay and Uruguay, said the source, who requested anonymity since the arrangement has not been made public.
Asset sales became imperative for Petrobras after Moody's Investors Service stripped the company of its investment-grade rating and warned that further cuts are possible.
Rio de Janeiro, April 1, 2015 ? Petróleo Brasileiro S.A. ? Petrobras announces that it has executed today with China Development Bank Corporation ? CDB the first Facility Agreement of a cooperation arrangement to be implemented during 2015 and 2016. The Agreement is being executed in China, during Petrobras CFO visit, Ivan Monteiro.
This contract represents a US$ 3.5 billion facility agreement, to be withdrawn by Petrobras Global Trading BV ? PGT, Petrobras? subsidiary. In addition, the parties confirmed the intention of developing new cooperation in the near future.
The Facility Agreement is an important milestone to develop further the strategic partnership between CDB and Petrobras targeting to enhance the synergy between the economies of both countries.
Petrobras shares jump on report of plans to sell Braskem stake
(Reuters) - Shares in Brazil's Petrobras rose 6 percent on Monday after local media reported that the state-run oil company plans to sell a stake in petrochemicals firm Braskem SA for around 2.8 billion reais ($903 million).
Petróleo Brasileiro SA Chief Financial Officer Ivan Monteiro said the Brazilian oil company will consider “any opportunity” to raise cash at a competitive cost in debt markets as early as this year but sees “zero” chance of issuing new shares.