Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petróleo Brasileiro S.A. - Petrobras    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Norway's Oil Fund Removes Petrobras From Observation on Reduced Corruption Risk

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/03/2019 | 05:43am EST

By Dominic Chopping

Norges Bank Investment Management, the arm of Norway's central bank that manages the country's trillion-dollar oil fund, said Tuesday that it has removed Brazilian oil company Petroleo Brasileiro SA Petroleo Brasileiro S/A (PETR4.BR) from its observation list following a recommendation from the fund's council on ethics.

Petrobras was placed under observation in 2016, with a view to the fund potentially withdrawing its investments in the company due to risk of severe corruption.

At the time, Petrobras was facing accusations of bribery and kickbacks.

"The Council on Ethics believes that the risk of corruption is now reduced," it said in a statement.

"This assessment is based, among other things, on the legal settlement with the U.S. authorities, which confirms that Petrobras has implemented comprehensive improvement measures since the investigation began in 2014."

At the end of 2018, the oil fund had around $659.5 million invested in Petrobras, representing a 0.83% stake in the company.

Write to Dominic Chopping at dominic.chopping@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.70% 63.7 Delayed Quote.16.84%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 1.00% 30.35 End-of-day quote.33.95%
WTI -0.76% 58.52 Delayed Quote.28.48%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PETRÓLEO BRASILEIRO S.A. -
12/05Sapura Energy Secures MYR615 Million Worth of Contracts
DJ
12/04Petrobras Aims to Close Gaps With Rivals
DJ
12/04PETRÓLEO BRASILEIRO S A PETROBRAS : Petrobras announces E&P teaser in the Espíri..
PU
12/04TEASER : Espírito Santo Basin
PU
12/04PETRÓLEO BRASILEIRO S A PETROBRAS : Petrobras discloses binding phase in E&P ass..
PU
12/03Norway's Oil Fund Removes Petrobras From Observation on Reduced Corruption Ri..
DJ
12/03Norway wealth fund removes Petrobras from its watchlist
RE
12/03Trump's tariff ambush risks pushing Brazil closer to China
RE
12/02PETRÓLEO BRASILEIRO S A PETROBRAS : Petrobras discloses E&P teaser in the Sergip..
PU
12/02TEASER : Sergipe-Alagoas Basin
PU
More news
Financials (BRL)
Sales 2019 316 B
EBIT 2019 83 818 M
Net income 2019 39 597 M
Debt 2019 266 B
Yield 2019 2,77%
P/E ratio 2019 9,98x
P/E ratio 2020 10,9x
EV / Sales2019 2,13x
EV / Sales2020 1,98x
Capitalization 409 B
Chart PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Duration : Period :
Petróleo Brasileiro S.A. - Petrobras Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETRÓLEO BRASILEIRO S.A. -
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 35,73  BRL
Last Close Price 30,35  BRL
Spread / Highest target 35,1%
Spread / Average Target 17,7%
Spread / Lowest Target 5,44%
EPS Revisions
Managers
NameTitle
Roberto da Cunha Castello Branco Chief Executive Officer & Director
Eduardo Bacellar Leal Ferreira Chairman
Andrea Marques De Almeida Chief Financial & Investor Relations Officer
Rudimar Andreis Lorenzatto Chief Technology & Production Development Officer
Marcelo Filho Director
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS33.95%97 886
ROYAL DUTCH SHELL1.19%224 568
TOTAL3.84%139 590
PETROCHINA COMPANY LIMITED-25.88%139 458
GAZPROM PAO--.--%88 892
PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY12.78%73 869