DOCSLIB.ORG

Petrobras Distribuidora S.A. Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Petrobras Distribuidora S.A. Financial Statements Petrobras Distribuidora S.A. Financial statements At December 31, 2017 and independent auditors’ report KPDS 217535 Petrobras Distribuidora S.A Financial Statements at December 31,2017 Contents Annual Report 2017 ............................................................................................................................ .4 Independent auditors’ report on the individual company and consolidated financial statements.........................................................................................................................................................21 Statements of financial position.........................................................................................................................29 Statements of income .......................................................................................................................................31 Statements of comprehensive income...............................................................................................................32 Statements of changes in equity........................................................................................................................33 Statements of cash flows...................................................................................................................................34 Statements of added value...................................................................................................................................................35 Notes to the financial statements 1 General considerations ................................................................................................................. 37 2 Basis of presentation of the financial statements ............................................................................. 41 3 Use of judgements and estimates .................................................................................................. 42 4 Significant accounting policies ....................................................................................................... 43 5 New standards and interpretations ................................................................................................. 55 6 Cash and cash equivalents ........................................................................................................... 57 7 Net accounts receivable ............................................................................................................... 58 8 Inventory ..................................................................................................................................... 65 9 Taxes and contributions recoverable .............................................................................................. 65 10 Deferred income and social contribution taxes ................................................................................ 66 11 Advanced bonuses awarded to clients ........................................................................................... 68 12 Judicial deposits .......................................................................................................................... 69 13 Investments ................................................................................................................................. 70 14 Property, plant and equipment ....................................................................................................... 76 15 Intangible assets .......................................................................................................................... 78 16 Trade payables ............................................................................................................................ 81 17 Financing .................................................................................................................................... 81 18 Leases ........................................................................................................................................ 86 19 Customer advances ..................................................................................................................... 88 20 Taxes and contributions payable ................................................................................................... 88 21 Employee benefits ....................................................................................................................... 90 22 Shareholders' equity ................................................................................................................... 101 23 Sales revenue ........................................................................................................................... 105 24 Other net revenue (expenses) ..................................................................................................... 106 2 Petrobras Distribuidora S.A Financial Statements at December 31,2017 25 Expenses by nature ................................................................................................................... 107 26 Net financial income ................................................................................................................... 109 27 Segment reporting ..................................................................................................................... 110 28 Judicial and administrative proceedings and contingencies ............................................................ 114 29 Contractual commitments ........................................................................................................... 124 30 Financial instruments and risk management ................................................................................. 124 31 Related-party transactions .......................................................................................................... 132 32 Insurance .................................................................................................................................. 140 33 Subsequent events .................................................................................................................... 140 Representation of the Officers about the Financial Statements and Independent Auditors' Report..............................................................................................................................................................141 Members of the Board of Directors and Executive Board...............................................................................142 Summarized Annual Report of the Statutory Audit Committee 143 Audit Committee Report 150 3 Annual Report 2017 Dear Shareholders, The Management of Petrobras Distribuidora S.A. (B3: BRDT3) is pleased to submit to shareholders its Annual Report and Financial Statements for the year 2017 and the, unqualified, independent auditors’ report, which has been discussed and reviewed by Management. PROFILE Petrobras Distribuidora (“BR” or “Company”) is Brazil’s largest fuel and lubricant distributor and marketer by sales volume. BR was created in 1971 to operate the petroleum product distribution and marketing business of parent company Petróleo Brasileiro S.A. (Petrobras). The Company has the most extensive footprint in Brazil’s fuel and lubricant distribution and marketing segment, serving more than 8,000 BR-branded service stations and around 14,000 customers in the Bulk Customer, aviation products and other segments, as described below. We operate the largest downstream logistics network in Brazil (according to data from Brazil’s oil industry regulator, ANP), including 91 fuel storage bases, 15 lubricant storage facilities and 109 airport fueling facilities, all strategically located throughout Brazil’s five major regions. From this platform, we are able to efficiently meet customer demand in any municipality in Brazil. We are Brazilian market leaders by sales volume for fuel and lubricant distribution and marketing, and believe we deliver superior quality and excellence in products and services in each of our businesses, including: Retail Our Retail business markets fuels, lubricants, compressed natural gas, ethanol, Arla 32 and convenience store products to retail service stations. Retail network prices are largely affected by the cost of products purchased from Petrobras, our primary supplier. To the extent possible, and provided our margins are not affected, any increase or decrease in the cost of sourced products are passed on to our customers. Bulk Customers Our Bulk Customers business supplies fuels, lubricants, Arla 32 and related services to large customers. Bulk Customer prices are largely affected by the cost of products purchased from Petrobras, our primary supplier. To the extent possible, and provided our margins are not affected, any increase or decrease in the cost of sourced products are passed on to our customers. 4 Aviation The Aviation business supplies jet fuels (JET-A1), aviation gasoline and aviation services at Brazilian airports to airliners, military aircraft and executive jets operating domestically and internationally. Prices in the Aviation business are largely affected by the cost of products purchased from Petrobras, our primary supplier, which vary with global market prices and foreign exchange rates. To the extent possible, and provided our margins are not affected, any increase or decrease in the cost of sourced products are passed
Load more

Recommended publications
  • Natural Gas Energy
    Annual Report 2006 Contents - PROFILE, MISSION, VISION 2015, VALUES AND CONDUCT - HIGHLIGHTS - MESSAGE FROM THE CEO - OIL MARKET OVERVIEW - CORPORATE STRATEGY - BUSINESSES Exploration and Production Refining and Commercialization Petrochemicals Transportation Distribution Natural Gas Energy - INTERNATIONAL ACTIVITIES - SOCIAL AND ENVIRONMENTAL RESPONSIBILITY Human Resources Health, Safety and the Environment Social, Environmental, Cultural and Sports Sponsorship - INTANGIBLE ASSETS Technological Capital Organizational Capital Human Capital Relationship Capital - BUSINESS MANAGEMENT Business Performance Capital Markets Risk Management Corporate Governance Annual Report 2006 2 Profile Petrobras is a publicly listed company that operates on an integrated and specialized basis in the following segments of the oil, gas and energy sector: exploration and production; refining, commercialization, transportation and petrochemicals; the distribution of oil products; natural gas and energy. Founded in 1953, Petrobras is now the world’s 14 th largest oil company, according to the publication Petroleum Intelligence Weekly . The leader in the Brazilian hydrocarbons sector, the company has been expanding, in order to become an integrated energy business with international operations, and the leader in Latin America. Mission To operate safely and profitably, in a socially and environmentally responsible manner, within the oil, gas and energy sector, both domestically and abroad, supplying products and services that meet the needs of the customers, thereby
    [Show full text]
  • MINUTA Petrobras Distribuidora SA Companhia Aberta De Capital
    MINUTA Petrobras Distribuidora S.A. Companhia Aberta de Capital Autorizado – CVM nº 24295 Rua Correia Vasques 250, Cidade Nova, CEP 20211-140, Rio de Janeiro, RJ CNPJ n.º 34.274.233/0001-02 – NIRE 33.3.0001392-0 – Código ISIN BRBRDTACNOR1 Código de Negociação das Ações na B3 S.A. – Brasil, Bolsa, Balcão ("B3"): "BRDT3" PEDIDO DE RESERVA PARA INVESTIDORES NÃO INSTITUCIONAIS PARA PAGAMENTO À VISTA DE AÇÕES ORDINÁRIAS DE EMISSÃO DE PETROBRAS DISTRIBUIDORA S.A. N.º Pedido de reserva ("Pedido de Reserva") relativo à oferta pública de distribuição secundária de 436.875.000 ações ordinárias, nominativas, escriturais e sem valor nominal de emissão de Petrobras Distribuidora S.A. ("Companhia"), livres e desembaraçadas de quaisquer ônus ou gravames ("Ações"), de titularidade de Petróleo Brasileiro S.A. – Petrobras, sociedade de economia mista com registro de emissor de valores mobiliários perante a Comissão de Valores Mobiliários ("CVM"), com sede na Cidade do Rio de Janeiro, Estado do Rio de Janeiro, na Avenida República do Chile 65, inscrita no Cadastro Nacional da Pessoa Jurídica do Ministério da Economia ("CNPJ") sob o n.º 33.000.167/0001-01 ("Acionista Vendedor"), na qualidade de acionista vendedor e ofertante. As Ações serão ofertadas no Brasil, sob a coordenação de Banco Morgan Stanley S.A. ("Coordenador Líder"), Bank of America Merrill Lynch Banco Múltiplo S.A. ("Bank of America"), Citigroup Global Markets Brasil, Corretora de Câmbio, Títulos e Valores Mobiliários S.A. ("Citi"), Goldman Sachs do Brasil Banco Múltiplo S.A. ("Goldman Sachs"), Banco Itaú BBA S.A. ("Itaú BBA"), Banco J.P. Morgan S.A.
    [Show full text]
  • The Petrobras Zero Hunger Program Invests R$ 303 Million to Fight Social
    www.petrobras.com.br 2003 reportsocial responsibility HIGHLIGHTS Partnership with society The Petrobras Zero Hunger With its strong economic and social involvement in the regions where the company is Program invests R$ 303 million to located, Petrobras supports and participates in the preparation, execution and refinement of fight social exclusion and bring comprehensive public policies. Much of this work is a result of partnerships with universities, NGOs and public bodies. about development with citizenship Suppliers are encouraged Petrobras is widely recognized for its strong to do their bit commitment towards social values and the Petrobras encourages its company, since 2003, has been aligning its suppliers to strive for standards activities in the social area with public of operational safety, envi- policies to fight social exclusion and misery. ronmental protection and This is the spirit underlying the Petrobras attention to health similar to Zero Hunger Program, which is helping to those prevailing in its own transform the situation of the country’s activities. poorest communities. Between now and Ombudsperson ensures 2006, a total of R$ 303 million will be transparent relations invested in projects that will have a positive The corporate ombudsperson impact in the areas of education, pro- is the principal means of fessional training, the generation of income ensuring transparency in and employment for adolescents and adults, Petrobras’ relations with its protecting children and teenagers’ rights, workers, customers, suppliers social undertakings and voluntary work. and society in general. With the Petrobras Zero Hunger Program, Petrobras upholds the company has redirected its social policy biodiversity and and focused its activities towards achieving environmental protection development with citizenship, which should The company has developed benefit some 4 million people throughout programs for the protection Brazil.
    [Show full text]
  • EXCLUSIVE-Spain's Repsol Suspends Swap Deal for Have Been Anchored Off Jose for Over Two Months Venezuelan Oil Under U.S
    EXCLUSIVE-Spain's Repsol suspends swap deal for have been anchored off Jose for over two months Venezuelan oil under U.S. pressure following payment complications from sanctions. U.S. President Donald Trump's national security adviser Spain's Repsol has suspended its swaps of refined John Bolton told Reuters last month the administration products for crude with Venezuela's state-run oil company was considering imposing sanctions on any PDVSA, people familiar with the matter said, as U.S. companies outside the United States that do business officials weigh penalties for foreign firms doing business with Venezuela. with Venezuela. On Wednesday in Miami, Bolton announced a series of The Spanish oil company has been swapping fuel and new sanctions against Cuba and Venezuela, ratcheting waiving payments due from a joint venture with PDVSA in up pressure on Maduro and the countries that support exchange for crude, even as the United States rolled out him. new sanctions aimed at ousting Venezuela's socialist In February, Spain imported some 75,920 barrels per day President Nicolas Maduro. (bpd) of Venezuelan oil, down from 84,650 bpd the month The arrangement made Repsol one of the OPEC- before, when arrivals were boosted by the Repsol- member nation's main fuel suppliers, alongside Russia's PDVSA swap. The European country imported an Rosneft and India's Reliance Industries, according to average of 12,630 bpd of the crude during 2018. three sources and vessel-tracking data. The Trump administration blames Maduro for a severe Aramco in talks to buy stake in refining business of economic crisis that has forced millions of Venezuelans to India's Reliance flee.
    [Show full text]
  • Biofuels in Brazil Sales and Logistics Ildo Sauer1
    BIOFUELS IN BRAZIL SALES AND LOGISTICS Ildo Sauer1 “ reen fuels” have already arrived. Together with them, 1 Ph.d in nuclear Energy. Professor a new dynamic of commercialization and logistic was G at the University of called for and it was made available for consumers interested São Paulo. Former in cleaner and less petrol-dependent fuels. Director of Gas and Energy at Petrobras. Recent information released by the United Nations In- tergovernmental Panel on Climate Change (IPCC) presents information on planet-wide climate changes and permanent alterations to oil prices, clearly indicating that the world will be needing biofuels to an increasing extent. An integrated energy enterprise, Petrobras has been op- erating and investing in the biofuels area since the 1970s. Within the current context, it established strategic planning targets that include expanding its share of the biofuels mar- ket, heading up Brazil’s biodiesel output and increasing its stake in the ethanol business. Biofuel is the generic name given to fuels derived from biomass such as sugar-cane, oilseeds, forest biomass (fuel- BIOFUELS IN BRAZIL: SALES AND lOGISTICS | 35 wood, charcoal, stumps, litter, etc.) and other sources of organic matter. The best-known and most widely used are ethanol (fuel alcohol) and biodiesel, which can be used alone or added to conventional fuels. Compared to fossil fuels such as diesel and gasoline, biofuels are cleaner and help reduce greenhouse gases emissions. Brazil’s ethanol program has endowed it with the world’s greatest experience in the biofuels sector, implemented nationwide and with a track- record stretching back more than thirty years.
    [Show full text]
  • Material Fact — Rio De Janeiro, June 17Th, 2021
    PETROBRAS DISTRIBUIDORA S.A. CNPJ 34.274.233/0001-02 NIRE 33.3.0001392-0 Public Company Material Fact — Rio de Janeiro, June 17th, 2021. Petrobras Distribuidora S.A. (“Company”) (B3: BRDT3), in continuity with the material facts dated as 8/26/2020 and 6/11/2021, informs its shareholders and the general public that on the date hereof Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) has filed the registration statement with the Brazilian Securities Commission (“CVM”) of the secondary public offering of common shares issued by the Company and held by Petrobras (“Shares”), under the terms of Article 6-A of CVM Rule No. 400, dated as December 29, 2003, as amended, and other applicable provisions, with efforts to place the Shares abroad pursuant to the exemptions from registration under the US Securities Act of 1993 (“Offering”). In addition, the Company informs that it has disclosed on the date hereof the Notice to the Market and the Preliminary Prospectus of Offering. The request for registration of the Offering is currently under review by CVM, and the Offering is subject to its prior approval. No registration of the Offering or Shares will be carried out in any agency or regulatory body in the capital markets of any other country (including the Securities and Exchange Commission), except in Brazil, with the CVM. The Shares may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The percentage of shares to be offered by Petrobras under the Offering will be of 37.5% of its interest in the Company's capital share, which corresponds to the total equity holdings of Petrobras in the Company.
    [Show full text]
  • Latin America CFO Index 2019
    Financial Officer Latin America CFO Index 2019 For the past decade, Spencer Stuart has analyzed the backgrounds and demographics of CFOs at the largest companies in different markets around the globe. Our first analysis of Latin American CFOs in 2018 helped uncover a deeper understanding of how the region’s finance leaders advanced into the positions they occupy today. The 2019 Latin America CFO Index continues this effort, analyzing the academic back- grounds, functional experience and professional career paths of 657 CFOs from the largest companies in Argentina, Brazil, Chile, Colombia, Mexico and Peru, including both listed and unlisted companies. Country Total CFOs Argentina 69 Brazil 186 Chile 78 Colombia 95 Mexico 133 Peru 96 Latin America 657 Executive Summary » Gender: 89% men, 11% women, with the highest female presence in Peru (25%) and in the industrial sector (15%) » Average Age: 48 years old » Country of Origin: 84% local vs. 16% foreign » Average Tenure: 5.2 years » Internal Promotion vs. External Hires: 54% were promoted internally » Previous Experience: 39% had previous experience in the same role LATIN AMERICA CFO INDEX 2019 Diversity remains an opportunity Of the 657 CFOs we studied, only 71 are women (11%). By comparison, 13% of Fortune 500 companies have female CFOs, and 15% of European CFOs are women. We believe the numbers will improve for Latin American companies in coming years as more companies focus on hiring, developing and promoting female talent within the finance function. Gender diversity in Latin America varies widely by country. Peru (25%) and Colombia (18%) have the largest female presence among Latin American countries, whereas Chile has only one female CFO in our sample.
    [Show full text]
  • PETROBRAS DISTRIBUIDORA S.A. CNPJ/MF Nº 34.274.233/0001-02 NIRE Nº 33300013920 Companhia Aberta
    PETROBRAS DISTRIBUIDORA S.A. CNPJ/MF nº 34.274.233/0001-02 NIRE nº 33300013920 Companhia Aberta ATA DAS ASSEMBLEIAS GERAIS ORDINÁRIA E EXTRAORDINÁRIA DA PETROBRAS DISTRIBUIDORA S.A., REALIZADAS EM 25 DE ABRIL DE 2018 (Lavrada na forma de sumário, conforme facultado pelo parágrafo 1º do artigo 130 da Lei nº 6.404, de 15 de dezembro de 1976) 1. DATA, HORA E LOCAL: No dia 25 de abril de 2018, às 14:00 horas, no auditório do Edifício Lubrax, na Rua Correia Vasques, nº 250, Cidade Nova, na cidade do Rio de Janeiro, Estado do Rio de Janeiro, CEP 20211-140, sede da Petrobras Distribuidora S.A. (“Companhia” ou “BR”). 2. CONVOCAÇÃO: Por edital publicado nos dias 23, 26 e 27 de março de 2018, no “Diário Oficial do Estado do Rio de Janeiro” (fls. 102, 39 e 119, respectivamente) e no “Valor Econômico” (fls. E12, E6 e E66, respectivamente). 3. PUBLICAÇÕES: Relatório da Administração e Demonstrações Financeiras da Companhia relativas ao exercício social encerrado em 31 de dezembro de 2017, acompanhadas do parecer dos Auditores Independentes, bem como do parecer favorável do Conselho Fiscal e o relatório do Comitê de Auditoria Estatutário, conforme aprovação em reunião do Conselho de Administração da Companhia realizada em 13 de março de 2018, foram publicados no "Diário Oficial do Estado do Rio de Janeiro" (fls. 56 a 75) e no "Valor Econômico" (fls. E5 a E24) em 11 de abril de 2018. Os avisos de que trata o artigo 133, caput, da Lei nº 6.404, de 15 de dezembro de 1976, conforme alterada (“Lei das Sociedades por Ações”) foram publicados nos dias 23, 26 e 27 de março de 2018 no "Diário Oficial do Estado do Rio de Janeiro" (fls.100, 38 e 117, respectivamente) e no “Valor Econômico” (fls.E8, E5 e E68, respectivamente).
    [Show full text]
  • Henrique Telles De Andrade Orientador: Carlos Parcias
    DEPARTAMENTO DE ECONOMIA PUC-RIO PROJETO DE MONOGRAFIA ALUNO: HENRIQUE TELLES DE ANDRADE ORIENTADOR: CARLOS PARCIAS AVALIAÇÃO DE EMPRESAS: UMA ANÁLISE DA PETROBRAS DISTRIBUIDORA S.A. RIO DE JANEIRO 29 DE NOVEMBRO DE 2019 1 Agradecimentos Gostaria de iniciar agradecendo a todas as pessoas que de alguma forma passaram em minha vida acadêmica e pessoal durante essa trajetória. Não foi fácil, diversos obstáculos pessoais apareceram pelo caminho e que acabaram por potencializar as pressões naturais que as vidas acadêmicas e profissionais impõem a todos. Se você que está lendo esse breve texto de agradecimento e passa por alguma dificuldade pessoal, não hesite em procurar ajuda. Não é necessário carregar o peso de todos os problemas sozinho em seus ombros. Para começar os agradecimentos, a primeira pessoa, como não poderia ser diferente, é a minha mãe Suzana Cunha Telles, que para mim, é o maior exemplo de força de vontade, perseverança e otimismo que uma pessoa pode reunir. Obrigado por nunca desistir de mim e espero um dia retribuir um décimo de tudo que você fez por mim. Ao meu primo e irmão, Adolfo Toani. Obrigado pelos conselhos, puxões de orelha e por sempre ser totalmente sincero em suas opiniões, que diversas vezes abriram meus olhos. À minha afilhada, Carolina, que enche meu coração de orgulho e alegria e me dá forças para ser a melhor pessoa e profissional que eu possa ser, e assim, servir de exemplo. Que a sua trajetória na vida seja brilhante, e eu possa sempre estar ao seu lado. Aos meus amigos e familiares, que compreenderam os diversos períodos em que me ausentei socialmente.
    [Show full text]
  • View Annual Report
    1 SUMMARY MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS MESSAGE FROM THE PRESIDENT OF PETROBRAS PROFILE SECURITIES MARKET Shareholding Position Stock Performance Risk Rating LARGE NUMBERS CORPORATE STRATEGY Strategic Plan 2017-2021 Business and Management Plan INTERNATIONAL ENVIRONMENT, OIL MARKET AND REGULATION International Environment Oil Market Regulation INVESTMENTS Impairment BUSINESS PERFORMANCE Exploration and Production Refining, Transportation, Trading and Petrochemicals Distribution Natural Gas, Electricity and Fertilizers Biofuels Awards and Recognition GOVERNANCE, MANAGEMENT AND COMPLIANCE Ethics Health, Safety, and Environment. Organizational Restructuring Corporate Governance Risk Management Compliance and Internal Controls Social Responsibility Research and Development Human Resources 2 OPERATION CAR WASH CLASS ACTION AND RELATED PROCESSES INFORMATION ON PROVISION OF SERVICES OTHER THAN EXTERNAL AUDIT BY INDEPENDENT AUDITORS – CVM INSTRUCTION 381/2003 FINANCIAL ANALYSIS Consolidated Results Sales Volume Result by Business Area Impairment. Liquidity and Capital Resources Indebtedness Assets and Liabilities Subject to Forex Variation Contingencies Contractual Obligations ACKNOWLEDGMENTS GLOSSARY 3 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS Dear shareholders, employees and business partners of PETROBRAS, This message has two major purposes. The first is to be the first message from the Board of Directors, through its current Chairman, at the end of the first year of full term. This Chairmanship was initially held throughout 2015 on an interim basis, thereafter replacing its full holder, who took a leave and then resigned during his term. Once this interim cycle and replacement was completed in April 2016, the Board of Directors was mandated by shareholders for a full period of 02 (two) years, ending in April 2018, and over the course of its first year in office, it faced the replacement of the Chairman of the Executive Board.
    [Show full text]
  • Fundação Petrobras De Seguridade Social - Petros 73.343 37.16 8 Total 188.858 41.470
    PROFILE Petrobras is a publicly listed company, based in Rio de Janeiro. Its shares and ADRs are traded at the Bovespa, NYSE, Latibex and BCBA and it is classified as investment grade. It operates on an integrated basis, specializing in the following segments of the oil, gas & energy sector: exploration and production; refining, commercialization, transportation and petrochemicals; distribution of oil products; natural gas, biofuels and electricity. Founded in 1953, Petrobras is now the world’s 9th largest oil company, by market value, according to the consulting firm PFC Energy. Leader in the Brazilian oil sector, Petrobras is also pre- sent in 27 other countries, and its reserves amount to 15.1 billion boe, according to SPE criteria. The Business Plan 2009-2013 provides for the investment of US$ 174.4 billion. MISSION Operate in a safe and profitable manner in Brazil and abroad, with social and environ- mental responsibility, providing products and services that meet clients’ needs and that contribute to the development of Brazil and the countries in which it operates. 2020 VISION We will be one of the five largest integrated energy companies in the world and the preferred choice among our stakeholders. 2020 VISION CHARACTERISTICS Our operations will be notable for: > Strong international presence > World prominence in biofuels > Operational excellence in management, energy efficiency, technology and human resources > Profitability Report printed on Suzano Reciclato paper (100% recycled paper trimmings, 35% post-consumption and 65% > Setting a benchmark in social and environmental responsibility preconsumption), with inks from renewable raw materials, oilseed-base and heavy metal-free pigments, under > Commitment to sustainable development standard ISO 18,000.
    [Show full text]
  • ANALYSIS of PETROBRAS' CORPORATE STRATEGY by Jeff
    ANALYSIS OF PETROBRAS’ CORPORATE STRATEGY by Jeff Devine BSc., Wilfrid Laurier University, 2000 PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In the Faculty of Business Administration © Jeff Devine 2009 SIMON FRASER UNIVERSITY Summer 2009 All rights reserved. However, in accordance with the Copyright Act of Canada, this work may be reproduced, without authorization, under the conditions for Fair Dealing. Therefore, limited reproduction of this work for the purposes of private study, research, criticism, review and news reporting is likely to be in accordance with the law, particularly if cited appropriately. Approval Name: Jeff Devine Degree: Master of Business Administration Title of Project: Analysis of Petrobras’ Corporate Strategy Supervisory Committee: ________________________________________ Dr. Neil Abramson Senior Supervisor Associate Professor of Strategy Faculty of Business Administration ________________________________________ Dr. Michael Parent Second Reader Associate Professor Faculty of Business Administration Date Approved: ________________________________________ ii Abstract This document presents an analysis of Petrobras’ corporate strategy to enhance the firm’s competitiveness in the industry. The document provides an industry analysis that identifies the company’s current position and a strategic alternative that will improve the company’s performance. The industy analysis determines the structure of the industry and the competitive forces identify the key success factors. The key success factors pinpoint the opportunities and threats to form the strategic alternative. The strategic alternative is assessed using the “Diamond-E Framework” which consists of management preferences, organization and resources. The final recommendation is then made for the benefit of Petrobras’ success. Keywords: Petrobras; Brazil iii Dedication This thesis is dedicated to my parents, friends and teachers who have helped me in my intellectual journey.
    [Show full text]