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
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 09/25
20.13 BRL   -1.32%
09/25Hygo trading halted as CEO named in Brazil corruption probe
RE
09/25ENERGY : Oil And Gas 2020: Brazil Law And Practice
AQ
09/25Petrobras Sells Stake in Gas Local, Begins Sale Process for Albacora Offshore Fields
DJ
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector news

Exclusive: Petrobras resumes oil trading with Vitol, Trafigura and Glencore

share with twitter share with LinkedIn share with facebook
09/15/2020 | 09:53am EDT
Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro

Brazil's state-run oil firm Petrobras has lifted its ban on trading with major commodity traders Vitol, Trafigura and Glencore, in place since Brazilian prosecutors announced a bribery probe in 2018, the company told Reuters.

"After a temporary suspension period with the companies cited, the company re-initiated business after adopting and perfecting a series of specific measures meant to bring more security to the commercial relationship," Petrobras said in a statement to Reuters.

Brazilian prosecutors announced in early December 2018 that they were investigating the three major energy trading firms, along with a number of smaller ones, for paying at least $31 million (£24 million) in bribes to Petrobras employees in exchange for sweetheart oil deals.

The prosecutors have alleged the top brass at the firms were fully aware of the alleged bribery scheme.

Petrobras said in its statement late on Monday that it had standardized and improved the monitoring of negotiations from calls to messages, instituted "Know your client" procedures and carried out integrity checks of its traders, among other measures.

Vitol, Glencore and Trafigura declined to comment.

One source familiar with the matter said the suspension had been lifted around three months ago.

After Brazilian prosecutors announced their investigation, the U.S. Justice Department opened its own probe and Swiss authorities searched the trading firms' offices in Geneva in November last year at Brazil's request.

Vitol and Trafigura have repeatedly said they have a "zero tolerance policy in respect of bribery and corruption". Vitol said it was cooperating with authorities. Glencore has previously said it takes ethics and compliance seriously and was cooperating with authorities.

Trafigura has said that "any suggestion that Trafigura's current management knew that its payments would be used to make improper payments to employees of Petrobras is not correct."

By Julia Payne and Gram Slattery

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE PLC -0.94% 167.38 Delayed Quote.-28.88%
LONDON BRENT OIL 0.12% 41.78 Delayed Quote.-36.77%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS -1.32% 20.13 End-of-day quote.-33.30%
WTI -0.42% 40.091 Delayed Quote.-34.31%
share with twitter share with LinkedIn share with facebook
All news about PETRÓLEO BRASILEIRO S.A. - PETROBRAS
09/25Hygo trading halted as CEO named in Brazil corruption probe
RE
09/25ENERGY : Oil And Gas 2020: Brazil Law And Practice
AQ
09/25Petrobras Sells Stake in Gas Local, Begins Sale Process for Albacora Offshore..
DJ
09/25TEASER : Açores e Alcobaça
PU
09/24Chevron's Pasadena Refinery Reports Operational Disruption
DJ
09/24Hygo trading halted as CEO named in Brazil corruption probe
RE
09/24CRACKS IN THE FOUNDATION : Sargeant Marine Inc. Pleads Guilty And Agrees To Pay ..
AQ
09/24Seadrill, Sapura latest firms targeted in Brazil's 'Car Wash' probe
RE
09/24Sapura Energy Refutes Involvement in Alleged Bribery Relating to Petrobras Co..
DJ
09/23Seadrill, Sapura latest firms to be targeted in Brazil's 'Car Wash' probe
RE
More news
Financials
Sales 2020 282 B 50 738 M 50 738 M
Net income 2020 -56 563 M -10 190 M -10 190 M
Net Debt 2020 345 B 62 232 M 62 232 M
P/E ratio 2020 -3,65x
Yield 2020 2,20%
Capitalization 267 B 47 867 M 48 043 M
EV / Sales 2020 2,17x
EV / Sales 2021 1,66x
Nbr of Employees 57 983
Free-Float 64,3%
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. - PETROBRAS
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 31,43 BRL
Last Close Price 20,13 BRL
Spread / Highest target 96,2%
Spread / Average Target 56,2%
Spread / Lowest Target 16,7%
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-33.30%47 867
SAUDI ARABIAN OIL COMPANY4.11%1 955 874
PETROCHINA COMPANY LIMITED-40.41%103 403
ROYAL DUTCH SHELL PLC-57.47%98 354
TOTAL SE-42.97%85 700
GAZPROM-33.67%51 378