LRT Capital Management Portfolio Holding: Petróleo Brasileiro S.A. - Petrobras

PBR (holding update): Brazil's state-controlled oil giant with world-class pre-salt reserves, among largest 21st century petroleum discoveries. Low lifting costs, deepwater expertise create barriers to entry. Strategic refocus on high-return pre-salt projects after divesting non-core assets strengthened balance sheet & cash flow generation. Government control adds complexity but underlying asset quality remains strong.

Read full article (2 min)