RIO DE JANEIRO, BRAZIL – Brazilian state oil company Petrobras said it will rationalize its international presence next year and will close its offices in Argentina, Colombia and Uruguay after divestment there.
Brazilian state oil company Petrobras said it will rationalize its international presence next year and will close its offices in Argentina, Colombia and Uruguay amid divestment there. (Photo internet reproduction)
“The company also maintains offices in Bolivia, Argentina, Colombia and Uruguay. In these last three countries, there is an ongoing disinvestment process, and the tendency is that, once completed, the respective offices will also be deactivated,” said a press statement released on Wednesday.
The closures will allow the company to focus on three main oil markets: Europe, North America and Asia, the press release stated.
The initiative is part of the company’s actions to reduce corporate costs by up to $13.5 million in 2021 after the gradual closure of external offices since 2019.
Petrobras has closed 10 of the 18 foreign offices it had at the end of 2018, including those in China, Mexico, Iran, Turkey, New York, Japan, Paraguay, Nigeria, Tanzania, and Libya.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$123.41B
Market cap
Analyst target $22.02
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $22.02 · +31% vs 200-day
Valuation & profitability
Market cap$123.41B
Revenue (TTM)$548.49B
P / E ratio4.8
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.9752-wk high $22.07
Beta (volatility)-0.22
200-day average$16.75
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield19.3%
Payout ratio28.3%
Fwd. annual$1.69
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
