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Petrobras

Petrobras. Brett Christner, Frank Hong, Nicholas Novacco, Tyler Smith . Overview . Semi-public Brazilian multinational energy corporation headquartered in Rio Integrated energy company with a presence in 27 countries

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Petrobras

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  1. Petrobras Brett Christner, Frank Hong, Nicholas Novacco, Tyler Smith

  2. Overview • Semi-public Brazilian multinational energy corporation headquartered in Rio • Integrated energy company with a presence in 27 countries • A significant oil producer with output of more than 2 million barrels of oil per day • Legal monopolist in oil industry in Brazil

  3. Overview • Brazilian government directly and indirectly owns 64% of Petrobras’ common shares • Indirectly 10% : Brazilian Development Bank and Brazil's sovereign Wealth Fund(Fundo Soberano) • In September 2010, Petrobras conducted the largest share sale in history • BM&F Bovespa stock exchange

  4. Profile • 7th Biggest energy company in the world • source: PFC energy(january 2013) • Value of the petrobras brand : R$19.7billion = 8.7 billion USD • source : BrandAnalytics (2012)

  5. Petrobras in numbers • Energy • 7 biofuels plants • 16 thermoelectric plants • 4 wind plants • Production • Daily production : 2.6 million barrels per day • Reserve : 16.4 billion barrels of oil and gas • Refineries : 2 million barrels of oil products per day

  6. History • Created in 1953 under Brazilian president Getulio Vargas “The oil is ours” • Petrobras monopolization • The oil crisis of 1973 • World record for oil exploration • Petrobras 50 year mark in 2003

  7. Business • State controlled company • Essentially has a monopoly on oil in Brazil • 7th biggest energy company in the world and estimated to be worth $8.64 billion • Most important assets are petroleum reserves in Brazil • Campos Basin • Domestic sales are majority of the companies profits • Also works to develop “green energy”

  8. Growth in 2007-2008 • Petrobras growth was huge during this time • Some reason include: • Rise in oil prices • Increasing demand • Relative political stability • Discovery of mega-fields • Became second oil company in terms of value, behind only ExxonMobil

  9. Downswing • Political meddling into Petrobras has created many problems • Brazilian government puts cap on oil prices • International oil market goes up • Forced to buy products from Brazil • Rising Demand • Massive Debt • Has essentially been used by the government for political policy and it cost them • Net profits fell 36% last year compared to 2011 • Now worth less than Colombia’s national oil company

  10. Future for Petrobras • After an awful couple years, Petrobras still has a chance at a very bright future • Mega-fields • Biggest oil find in the America’s in the last decade • Proven that there is 16 billion barrels of oil there, and the potential to double that • Looking to triple exports by 2020 • Potential shift back towards ethanol • Despite the very poor last couple years for the company, Petrobras still certainly has a chance at success

  11. Recent Endeavours • Tupi, Jupiter, Carioca and Bem-te-vi • U.S. loaning Petrobras $10B to finance exploration off coast of Brazil • Petrobras investing another $29B • “Pre-sal” oil fields could rocket Brazil into top 10 producers

  12. Relation to Hugo Chavez • Deal with Venezuela’s PdVSA • Chavez and Luiz Inacio Lula da Silva

  13. U.S. Spying • NSA monitoring internal Petrobras data • September 2013; Edward Snowden docs. • Spying on Brazilian President • Petrobras spending $21B over next 5 years on data security • Deep water drilling and oil field secrets

  14. Questions • Will Petrobras be able to come back from its recent failures? Why or why not? • Is the Brazilian government interfering too much with the business of Petrobras? • How will revelations of U.S. data mining affect Brazilian/American relations?

  15. Work Cited • http://www.agenciapetrobras.com.br/default_en.asp • http://apps.aiche.org/Proceedings/Abstract.aspx?ConfID=Annual-2006&GroupID=1146&SessionID=3593&PaperID=77492 • http://en.wikipedia.org/wiki/Petrobras#cite_note-15 • Petrobras Raises $70 Billion as Investors See Growth". Bloomberg Businessweek. 24 September 2010. Retrieved 05 November 2013. • http://www.nytimes.com/2013/03/27/world/americas/petrobras-brazils-oil-giant-struggles-to-regain-lost-swagger.html?_r=0 • http://www.economist.com/news/americas/21566645-how-gra%C3%A7a-foster-plans-get-brazils-oil-giant-back-track-perils-petrobras • http://www.forbes.com/sites/kenrapoza/2013/02/08/is-petrobras-worth-a-dime/ • http://www.forbes.com/sites/kenrapoza/2013/02/05/brazil-oil-giant-petrobras-blames-dollar-for-collapse/ • http://www.forbes.com/sites/afontevecchia/2013/08/12/petrobras-takes-pre-salt-oil-production-to-record-highs-as-it-maxes-out-refining-capacity/ • http://www.economist.com/news/americas/21566645-how-gra%C3%A7a-foster-plans-get-brazils-oil-giant-back-track-perils-petrobras • http://www.petrobras.com.br/en/about-us/profile/

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