Petrobras Price Estimate Slashed Based On Reduced Realizations, Depreciating Real And S&P Downgrade

Petroleo Brasileiro Petrobras is a vertically integrated oil and gas company, which operates in both the upstream and downstream segments of the industry. The Brazilian multinational energy giant is one of the largest companies in Latin America by annual sales revenue. However, the extended period of low crude oil prices has hurt the company. The company's realizations per barrel for both upstream and downstream segments are down drastically. Additionally, a falling domestic currency and the rec...