Petrobras forecasts signal reduced losses from selling imported fuel


Petrobras (PBR +1.7%) expects a sharp decline in the amount of gasoline and diesel fuel it imports starting in November, when its new Abreu e Lima refinery begins operation, company officials say in an investor conference call.

The refinery is expected to start its first of two refining trains on Nov. 4, which is expected to reach full production of 115K bbl/day in January.

Sales to overseas markets likely will surge ~50% in H2 2014 while refinery production should rise 4%, signaling a reduction in losses from selling imported fuel at below global prices.

PBR says it expects crude exports to average 250K bbl/day in H2; output at the company’s pre-salt fields reached a record 546K barrels on July 13.

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Comments (3)
  • zerosum2
    , contributor
    Comments (99) | Send Message
     
    Don't worry short sellers, PBR is 3.2% up today, its time to add your short position now. Ms. Dilma Rouseff loves you and she is always on your side. She'll sure deliver few more punches to PBR to make sure the company will sputter, whehter she stays in office or not.

     

    In short term, she is likely set to decrease demostic fuel price to make sure shares drop, who don't want cheap fuel for a vote in her favor. In longer term, she'll make sure debt level to increase or buy a couple more overpriced refinaries and leave room for bribery money under the table.
    11 Aug 2014, 03:53 PM Reply Like
  • zerosum2
    , contributor
    Comments (99) | Send Message
     
    Short Sellers, Dilma Rouseff has just delivered a fatal punch to her opponent Eduardo Campos. Its time to close out your short positions and laugh all the way to your bank. Condolence to Eduardo Campos. Politics is not a party, it can be cruel.
    13 Aug 2014, 12:25 PM Reply Like
  • zerosum2
    , contributor
    Comments (99) | Send Message
     
    Aug-15-2014 Friday update - I hope by now you have closed your short positions for quick profits, perception now shifting the death of Campos will hurt Dilma Rousseff to get re-elected. Heavy institutional buying today. so its time reverse position to go long on PBR.

     

    Recommended reading: The Wrong Answer First (describing ecophysics and the new phenomenon of modern wall street)
    15 Aug 2014, 12:24 PM Reply Like
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