In the study of a villa, Li Zaian and Betheron are secretly discussing
You are making a desperate bet this time! You spent hundreds of millions of dollars to buy the shares of Petrobras. It was almost all the funds of your Pai fund. Betheron took out a cigar from the box, cut open the eggplant hat and baked it slowly with a lighter.
Haha, there is an old saying in China that I can’t bear to let my child go to trap the wolf. Li Zaian smiled, his eyes closed and his fingers hit the table. If I don’t spend a lot of money, how could that old guy, Bes, be fooled? Besides, most of the money is from customers…
It's shameless, Betheron asked curiously: Are you really so confident in the development prospects of the oil industry?
After thinking for a while, Li Zaian said, "You know more about Brazil's domestic policies than me." Before the Brazilian government issued a new law, the oil field has been integrated with government and enterprises for so many years. Brazil's oil company can be said to be both an athlete and a referee. Brazil's oil industry is monopolized by state-owned institutions. Private capital wants to engage in the oil industry, but can only enter the field of refined oil sales.
Unfortunately, the sales of refined oil are only the end of the entire oil industry. Not to mention the exploration, mining, refining and other fields, private capital is prohibited from entering, and even the authority to import and export refined oil. Private capital can only purchase oil sales from Petrobras. Li Zaian smiled and continued
In the field of refined oil sales, private capital does not have any advantage at all, and the rules of the game are still formulated by competitors, Petrobras. In this case, it is inevitable that private companies operating oil will suffer losses for years and will eventually be forced to withdraw from the market.
Petrobras is a state-owned super-large enterprise. Of course, it is unwilling to become a pure upstream company that only engages in oil and gas mining. It has always wanted to dominate the more profitable refined oil market.
It suppressed the development of private enterprises in the oil industry through various means, and finally achieved this as expected
However, after Petrobras occupied the national refined oil market, in addition to investing in building a large number of gas stations, they also had to establish refining bases alone.
In recent years, Petrobras has had to invest huge amounts of money to build refined oil supply infrastructure in various places, but it encountered the Gulf War again, which led to a surge in imported oil prices and huge losses in the company's operations.
Faced with this bad situation, the Brazilian government had to make up its mind to issue a new decree to separate the oil management administration and enterprises, and to add a Brazilian National Petroleum Administration under the Brazilian Ministry of Mining and Energy to be responsible for the formulation of Brazil's oil policies and industry supervision and management.
The announcement of Act No. 9478 broke the situation where Brazilian oil companies unified the world. The subsidiary of Brazilian oil companies can operate joint ventures with their own private capital, and foreign oil companies can also indirectly enter the Brazilian oil market.
It was by this opportunity that Li Zaian and Coria established a private Pai Oil Company, cooperated with the British Natural Gas Group to conduct oil exploration offshore Santos
Last year, the Act No. 9478 passed by the House and Senate of Brasilia banned the monopoly of Petrobras. Li Zaian said, "We private capitals have been able to enter the exploration, mining, refining and other fields of the oil industry. I think the prospects are still bright."
Of course, Li Zaian's words are nonsense
In his past life, it was not until 2006 that the Tupi Oilfield was discovered by the British Natural Gas Company.
Those private companies that rashly entered the field of oil exploration rashly failed to recover after more than ten years of exploration. In the end, they lost all their money. Only the British natural gas company, which had the strongest and most advanced technology, persisted until the end
……
Brazil's oil industry began in the late 19th century. At the beginning, foreign oil companies have been playing a central role in Brazil's oil exploration and production activities.
After 1930, the Brazilian government began to gradually strengthen its control over the oil industry.
In 1938, the Brazilian government established the National Petroleum Commission to uniformly manage the national oil industry and carry out systematic petroleum exploration activities.
By the end of 1941, the Brazilian Petroleum Commission had discovered three large oil fields nationwide. In 1950, Brazil's oil production reached about 950 barrels per day.
In October 1953, the Brazilian government announced the nationalization of the oil industry and stipulated that oil resources should be owned by the state.
Petrobras (Petrbras) was established, a state-owned super-large enterprise group with oil as the main body and integrated upstream and downstream operations.
The Brazilian Ministry of Minerals and Energy (MME) was established in July 1960 and is a unified management department in Brazil's energy field.
The Ministry is responsible for the development and management of mineral resources, oil and gas resources, water resources, electricity and nuclear energy industries across the country; formulate and implement national mining policies, implement national mining laws and regulations; supervise and manage mining activities
The National Energy Policy Committee (CNPE) is affiliated to the Brazilian Ministry of Mines and Energy. It is a professional consulting body and is mainly responsible for formulating national energy policies and guidelines.
The Minister of Mines and Energy personally presided over the work of the National Energy Policy Committee
It is no exaggeration to say that Petrobras is the real son of Brazil's Ministry of Minerals and Energy.
This giant company not only participates in the formulation and implementation of oil policies, but also manages the exploration, development, production, transportation and enterprise management of Petrobras. It is a typical state-owned enterprise with government-enterprise integration
However, in recent years, the operating losses of Brazilian Petroleum Corporation have gradually deteriorated, especially the chaos in the domestic oil industry market order year by year.
Brazil's domestic call for separation of Brazil's oil companies and government and enterprises and allowing private capital to enter oil-related fields is growing
After President Koror came to power in 1990, he tried to break up the Brazilian Petroleum Company through a series of privatization plans.
Faced with this situation, coupled with the activities of a large number of policy lobbying companies, the Brazilian parliament finally revised relevant regulations in mid-last year to separate oil management and enterprises, breaking the situation where Brazilian oil companies unify the world.
It has begun to allow qualified and corresponding scale private capital forces to enter the oil field, but it still maintains an exclusionary attitude towards foreign capital.
Under the Brazilian Ministry of Mining and Energy, the Brazilian National Petroleum Administration has been added to be responsible for the formulation of Brazil's oil policies and industry supervision and management, and to standardize the management of oil and public energy.
The law stipulates that Petrobras is controlled by the federal government, and the federal government accounts for 51% of the original shares of registered capital (the registered capital is divided into original shares with voting rights and preferred shares without voting rights)
Petrobras implements independent operation of enterprises in accordance with the laws of market economy, and all the resource assets originally explored, developed and produced were redistributed to Petrobras.
However, for the exploration, development and production of new oil fields, the Petroleum Administration of Brazil will adopt a bidding method, and Petroleum and other companies can participate in the bidding
The law stipulates that when participating in the bidding, Petrobras may sign an equal priority contract through invitation letters to guarantee the price of the bidding equipment and materials and services and provide the supply.
For its business needs, Petrobras has simplified its bidding procedures for the required equipment, materials and services.
Since Petrobras owns most of Brazil's land and offshore oil and natural gas fields, its years of operations have made Petrobras the leader in the oil industry and the largest oil backbone enterprise in Brazil
In Li Zaian's previous life, Petrobras obtained resource assets for exploration, development and production, and the company therefore occupied most of the land and offshore oil and natural gas fields in Brazil.
In 2006, Petrobras discovered a super-large oil field with a reserve of more than 5 billion barrels in the Santos Basin off the southeastern coast of Rio de Janeiro, the Tupi Oilfield, which is also one of the largest oil fields found in the world in the past 30 years.
This major discovery has caused the company's stock market value to rise 87% in St. Paul and New York, and its share price has soared, once rising to a high of $71 per share.
On the day when the stock price soared, Microsoft's market value was US$279.3 billion, while Petrobras' market value reached US$287.1 billion, surpassing Microsoft in one fell swoop and becoming the third largest listed company in the Americas.
Of course, the Brazilian oil company in 1992 was far less glorious than later generations. The company's operations have been losing money for years and are facing the danger of being broken up and reorganized by the Brazilian government.
Sherman Flynn, the newly appointed president of Petrobras, is under great pressure
Before joining the company as an executive, he was a bureaucrat of the Brazilian Ministry of Mines and Energy. He worked hard in the Ministry of Mines and Energy for many years and was considered to be a deep connection.
Last year, Congress revised relevant regulations, reformed Petrobras and revitalized the national oil industry, and put the important task of Sherman on her shoulders.
At this time, both the senior executives of the oil company and Sherman himself were full of confidence in the company's development prospects.
Due to the recession of Brazil's domestic economy, Sherman is preparing to issue additional shares on the New York Stock Exchange to raise funds to alleviate the company's current funding hunger
Just as the company was making final preparations for additional stock issuance in New York, USA, suddenly, they encountered fierce attacks from short institutions in the Brazilian stock market.
In less than a month, Petrobras' share price fell from $135 per share to less than $7 per share now.
This made Sherman feel like he was beaten up by someone. The stock price plummeted and the prospect of the company's financing issuance was suddenly blew. The lead underwriter JPMorgan Chase even suggested reducing the issuance plan. Not only should the stock issuance ratio be reduced, but the issuance price also needs to be reduced.
If the stock issuance plan is revised according to the recommendations of the lead underwriter, it would be better to give up this plan. The company's decision-makers are already considering the response to the failure of the plan. These things are pressing on Sherman Flynn's heart, making him feel uncomfortable
Sherman was not in the mood to meet Betheron, but he still had to give him the face of the St. Paul state assemblyman.
In the future, the company will develop a refined oil market in the Sao Paulo region, and he will also need support from local councils.
You are making a desperate bet this time! You spent hundreds of millions of dollars to buy the shares of Petrobras. It was almost all the funds of your Pai fund. Betheron took out a cigar from the box, cut open the eggplant hat and baked it slowly with a lighter.
Haha, there is an old saying in China that I can’t bear to let my child go to trap the wolf. Li Zaian smiled, his eyes closed and his fingers hit the table. If I don’t spend a lot of money, how could that old guy, Bes, be fooled? Besides, most of the money is from customers…
It's shameless, Betheron asked curiously: Are you really so confident in the development prospects of the oil industry?
After thinking for a while, Li Zaian said, "You know more about Brazil's domestic policies than me." Before the Brazilian government issued a new law, the oil field has been integrated with government and enterprises for so many years. Brazil's oil company can be said to be both an athlete and a referee. Brazil's oil industry is monopolized by state-owned institutions. Private capital wants to engage in the oil industry, but can only enter the field of refined oil sales.
Unfortunately, the sales of refined oil are only the end of the entire oil industry. Not to mention the exploration, mining, refining and other fields, private capital is prohibited from entering, and even the authority to import and export refined oil. Private capital can only purchase oil sales from Petrobras. Li Zaian smiled and continued
In the field of refined oil sales, private capital does not have any advantage at all, and the rules of the game are still formulated by competitors, Petrobras. In this case, it is inevitable that private companies operating oil will suffer losses for years and will eventually be forced to withdraw from the market.
Petrobras is a state-owned super-large enterprise. Of course, it is unwilling to become a pure upstream company that only engages in oil and gas mining. It has always wanted to dominate the more profitable refined oil market.
It suppressed the development of private enterprises in the oil industry through various means, and finally achieved this as expected
However, after Petrobras occupied the national refined oil market, in addition to investing in building a large number of gas stations, they also had to establish refining bases alone.
In recent years, Petrobras has had to invest huge amounts of money to build refined oil supply infrastructure in various places, but it encountered the Gulf War again, which led to a surge in imported oil prices and huge losses in the company's operations.
Faced with this bad situation, the Brazilian government had to make up its mind to issue a new decree to separate the oil management administration and enterprises, and to add a Brazilian National Petroleum Administration under the Brazilian Ministry of Mining and Energy to be responsible for the formulation of Brazil's oil policies and industry supervision and management.
The announcement of Act No. 9478 broke the situation where Brazilian oil companies unified the world. The subsidiary of Brazilian oil companies can operate joint ventures with their own private capital, and foreign oil companies can also indirectly enter the Brazilian oil market.
It was by this opportunity that Li Zaian and Coria established a private Pai Oil Company, cooperated with the British Natural Gas Group to conduct oil exploration offshore Santos
Last year, the Act No. 9478 passed by the House and Senate of Brasilia banned the monopoly of Petrobras. Li Zaian said, "We private capitals have been able to enter the exploration, mining, refining and other fields of the oil industry. I think the prospects are still bright."
Of course, Li Zaian's words are nonsense
In his past life, it was not until 2006 that the Tupi Oilfield was discovered by the British Natural Gas Company.
Those private companies that rashly entered the field of oil exploration rashly failed to recover after more than ten years of exploration. In the end, they lost all their money. Only the British natural gas company, which had the strongest and most advanced technology, persisted until the end
……
Brazil's oil industry began in the late 19th century. At the beginning, foreign oil companies have been playing a central role in Brazil's oil exploration and production activities.
After 1930, the Brazilian government began to gradually strengthen its control over the oil industry.
In 1938, the Brazilian government established the National Petroleum Commission to uniformly manage the national oil industry and carry out systematic petroleum exploration activities.
By the end of 1941, the Brazilian Petroleum Commission had discovered three large oil fields nationwide. In 1950, Brazil's oil production reached about 950 barrels per day.
In October 1953, the Brazilian government announced the nationalization of the oil industry and stipulated that oil resources should be owned by the state.
Petrobras (Petrbras) was established, a state-owned super-large enterprise group with oil as the main body and integrated upstream and downstream operations.
The Brazilian Ministry of Minerals and Energy (MME) was established in July 1960 and is a unified management department in Brazil's energy field.
The Ministry is responsible for the development and management of mineral resources, oil and gas resources, water resources, electricity and nuclear energy industries across the country; formulate and implement national mining policies, implement national mining laws and regulations; supervise and manage mining activities
The National Energy Policy Committee (CNPE) is affiliated to the Brazilian Ministry of Mines and Energy. It is a professional consulting body and is mainly responsible for formulating national energy policies and guidelines.
The Minister of Mines and Energy personally presided over the work of the National Energy Policy Committee
It is no exaggeration to say that Petrobras is the real son of Brazil's Ministry of Minerals and Energy.
This giant company not only participates in the formulation and implementation of oil policies, but also manages the exploration, development, production, transportation and enterprise management of Petrobras. It is a typical state-owned enterprise with government-enterprise integration
However, in recent years, the operating losses of Brazilian Petroleum Corporation have gradually deteriorated, especially the chaos in the domestic oil industry market order year by year.
Brazil's domestic call for separation of Brazil's oil companies and government and enterprises and allowing private capital to enter oil-related fields is growing
After President Koror came to power in 1990, he tried to break up the Brazilian Petroleum Company through a series of privatization plans.
Faced with this situation, coupled with the activities of a large number of policy lobbying companies, the Brazilian parliament finally revised relevant regulations in mid-last year to separate oil management and enterprises, breaking the situation where Brazilian oil companies unify the world.
It has begun to allow qualified and corresponding scale private capital forces to enter the oil field, but it still maintains an exclusionary attitude towards foreign capital.
Under the Brazilian Ministry of Mining and Energy, the Brazilian National Petroleum Administration has been added to be responsible for the formulation of Brazil's oil policies and industry supervision and management, and to standardize the management of oil and public energy.
The law stipulates that Petrobras is controlled by the federal government, and the federal government accounts for 51% of the original shares of registered capital (the registered capital is divided into original shares with voting rights and preferred shares without voting rights)
Petrobras implements independent operation of enterprises in accordance with the laws of market economy, and all the resource assets originally explored, developed and produced were redistributed to Petrobras.
However, for the exploration, development and production of new oil fields, the Petroleum Administration of Brazil will adopt a bidding method, and Petroleum and other companies can participate in the bidding
The law stipulates that when participating in the bidding, Petrobras may sign an equal priority contract through invitation letters to guarantee the price of the bidding equipment and materials and services and provide the supply.
For its business needs, Petrobras has simplified its bidding procedures for the required equipment, materials and services.
Since Petrobras owns most of Brazil's land and offshore oil and natural gas fields, its years of operations have made Petrobras the leader in the oil industry and the largest oil backbone enterprise in Brazil
In Li Zaian's previous life, Petrobras obtained resource assets for exploration, development and production, and the company therefore occupied most of the land and offshore oil and natural gas fields in Brazil.
In 2006, Petrobras discovered a super-large oil field with a reserve of more than 5 billion barrels in the Santos Basin off the southeastern coast of Rio de Janeiro, the Tupi Oilfield, which is also one of the largest oil fields found in the world in the past 30 years.
This major discovery has caused the company's stock market value to rise 87% in St. Paul and New York, and its share price has soared, once rising to a high of $71 per share.
On the day when the stock price soared, Microsoft's market value was US$279.3 billion, while Petrobras' market value reached US$287.1 billion, surpassing Microsoft in one fell swoop and becoming the third largest listed company in the Americas.
Of course, the Brazilian oil company in 1992 was far less glorious than later generations. The company's operations have been losing money for years and are facing the danger of being broken up and reorganized by the Brazilian government.
Sherman Flynn, the newly appointed president of Petrobras, is under great pressure
Before joining the company as an executive, he was a bureaucrat of the Brazilian Ministry of Mines and Energy. He worked hard in the Ministry of Mines and Energy for many years and was considered to be a deep connection.
Last year, Congress revised relevant regulations, reformed Petrobras and revitalized the national oil industry, and put the important task of Sherman on her shoulders.
At this time, both the senior executives of the oil company and Sherman himself were full of confidence in the company's development prospects.
Due to the recession of Brazil's domestic economy, Sherman is preparing to issue additional shares on the New York Stock Exchange to raise funds to alleviate the company's current funding hunger
Just as the company was making final preparations for additional stock issuance in New York, USA, suddenly, they encountered fierce attacks from short institutions in the Brazilian stock market.
In less than a month, Petrobras' share price fell from $135 per share to less than $7 per share now.
This made Sherman feel like he was beaten up by someone. The stock price plummeted and the prospect of the company's financing issuance was suddenly blew. The lead underwriter JPMorgan Chase even suggested reducing the issuance plan. Not only should the stock issuance ratio be reduced, but the issuance price also needs to be reduced.
If the stock issuance plan is revised according to the recommendations of the lead underwriter, it would be better to give up this plan. The company's decision-makers are already considering the response to the failure of the plan. These things are pressing on Sherman Flynn's heart, making him feel uncomfortable
Sherman was not in the mood to meet Betheron, but he still had to give him the face of the St. Paul state assemblyman.
In the future, the company will develop a refined oil market in the Sao Paulo region, and he will also need support from local councils.
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