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

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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Shell has begun drilling Saturn offshore block, Brazil chief says

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05/21/2020 | 02:05pm EDT

(.)

By Marta Nogueira

RIO DE JANEIRO, May 21 (Reuters) - Royal Dutch Shell has begun drilling the Saturn block in the Santos pre-salt basin, the company's Brazil chief said on Thursday, adding that Brazil faces hurdles to remain attractive in a low-price environment.

Brazil's No. 2 oil producer after state-run Petroleo Brasileiro, Shell is the operator of block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%. The consortium won the block in a 2018 auction.

André Araujo, speaking during a live broadcast streamed by newspaper Valor Econômico, said the company had also this year started drilling the Gato do Mato area, operated by Shell in the Santos Basin. He gave no details.

Araujo stressed that the global oil industry scenario is challenging and that Brazil faces regulatory challenges to remain attractive, with a new level of prices ahead. He said oil firms will have to adapt to a scenario of lower investments and "without a doubt, investments will migrate to those countries and projects that are more attractive."

Brazil's pre-salt layer is a "strategic area of great interest" and "extremely productive," Araujo said. But he also said the industry would get more competitive and some players may begin allocating investment to other forms of energy. (Editing by Gabriel Stargardter; Editing by Dan Grebler)

Stocks mentioned in the article
ChangeLast1st jan.
CHEVRON CORPORATION -0.93% 96.28 Delayed Quote.-20.11%
ECOPETROL S.A. 0.00% 2160 End-of-day quote.-34.84%
EURO / BRAZILIAN REAL (EUR/BRL) -1.92% 5.698 Delayed Quote.26.24%
LONDON BRENT OIL 5.17% 42.14 Delayed Quote.-40.24%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS -0.19% 21.43 End-of-day quote.-28.99%
ROYAL DUTCH SHELL PLC 5.36% 16.466 Delayed Quote.-40.19%
WTI 4.58% 39.173 Delayed Quote.-39.82%
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Financials
Sales 2020 279 B 54 723 M 54 723 M
Net income 2020 -31 732 M -6 216 M -6 216 M
Net Debt 2020 357 B 69 941 M 69 941 M
P/E ratio 2020 -9,69x
Yield 2020 2,17%
Capitalization 285 B 55 622 M 55 823 M
EV / Sales 2019
EV / Sales 2020 2,30x
Nbr of Employees 57 983
Free-Float 64,3%
Chart PETRÓLEO BRASILEIRO S.A. - PETROBRAS
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Technical analysis trends PETRÓLEO BRASILEIRO S.A. -
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 12
Average target price 27,95 BRL
Last Close Price 21,43 BRL
Spread / Highest target 63,3%
Spread / Average Target 30,4%
Spread / Lowest Target -2,01%
EPS Revisions
Managers
NameTitle
Roberto da Cunha Castello Branco President, Chief Executive Officer & Director
Eduardo Bacellar Leal Ferreira Chairman
Andrea Marques De Almeida Chief Financial & Investor Relations Officer
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-28.99%55 622
SAUDI ARABIAN OIL COMPANY-8.65%1 714 087
ROYAL DUTCH SHELL PLC-40.19%134 363
PETROCHINA COMPANY LIMITED-29.92%105 845
TOTAL S.A.-26.60%105 268
GAZPROM-21.43%68 629