Petróleo Brasileiro S.A. or simply called as Petrobras(PBR) is the state-owned Brazilian oil company. Petrobras used to a high-flier with the ADR hitting over $70 a share in 2008. Since then it has been gone nowhere but down year after year. The massive corruption scandal that was uncovered and falling oil prices have led this former crown jewel of Brazil to such a low level that the ADR closed at $10.71 on Friday. The share reached single digits before a massive run. It will be years or even decades for PBR to reach the $70 level.
Anyway the infographic below shows the Petroluem industry in Brazil:
Click to enlarge
Source: Wilson Center
Disclosure: Long PBR
