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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

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Petroleo Brasileiro Petrobras SA : Brazil's Rousseff Meets Nigerian Leader for Trade Talks

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02/23/2013 | 01:04pm CET

ABUJA (AFP)--Brazil's President Dilma Rousseff met with Nigeria's leader Goodluck Jonathan in Abuja on Saturday for talks that were expected to focus on boosting trade, notably in the energy sector.

Oil-rich Nigeria is Brazil's main commercial partner in Africa, with bilateral trade soaring 500% from $1.5 billion in 2002 to $9 billion last year.

Brazil's state-owned oil company Petrobras (PBR, PETR4.BR) has invested hundreds of millions of dollars in Nigeria's coal, oil, natural gas and alternative energy sectors.

Experts say that Brazil is looking to expand energy ties with Nigeria, Africa's top oil producer, to fuel its growing economy.

At a major industry conference in Abuja last month, Nigeria's Oil Minister Diezani Alison-Madueke said that growing oil and gas production in the United States had begun affecting Nigerian exports and that the west African nation would have to look to different markets.

The fall is US exports was due in part to a rise in American shale oil production, including through new technologies like fracking, Alison-Madueke said.

Rousseff arrived in Nigeria after attending the Africa-South America summit in Equatorial Guinea, also a significant west African oil producer.

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Financials ( BRL)
Sales 2016 274 880 M
EBIT 2016 29 613 M
Net income 2016 -1 530 M
Debt 2016 335 813 M
Yield 2016 1,26%
P/E ratio 2016 -
P/E ratio 2017 18,92
EV / Sales 2016 2,03x
EV / Sales 2017 1,74x
Capitalization 222 658 M
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Mean consensus HOLD
Number of Analysts 14
Average target price 15,8  BRL
Spread / Average Target 1,7%
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NameTitle
Pedro Pullen Parente President, CEO & Executive Director
Luiz Nelson Guedes de Carvalho Chairman
Ivan de Souza Monteiro Chief Financial & Investor Relations Officer
Roberto Moro Chief Engineering & Technology Officer
Luiz Augusto Fraga Navarro de Britto Filho Director
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