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Petroleo Brasileiro S.A.

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Petrobras is the largest integrated energy firm in Brazil. The company boasts a healthy production growth and has announced several important discoveries of late. Also, we appreciate its cost-cutting measures like asset sales and reduced capital spending. Additionally, the loans from China should offer some relief considering Petrobras’ huge debt burden and the money-laundering scandal, which has scarred its credit metrics. However, much is yet to be achieved considering the firm’s scale of operations and investment base. Adding to the problems is the currently weak commodity price environment. With crude prices anticipated to remain weak throughout 2015, the company’s revenues and earnings are expected to stay challenged.

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