Petróleo Brasileiro S.A. - Petrobras (PBR) Stock Analysis & Winston Score

Petrobras is Brazil's national oil and gas company. It finds oil and natural gas deep under the ocean floor, pulls it out, refines it into fuels like gasoline and diesel, and sells those fuels to businesses and consumers across Brazil. The company is one of the largest oil producers in the world and is a pioneer in deepwater drilling technology, operating some of the most productive offshore oil fields ever discovered — known as the "pre-salt" fields off Brazil's coast. The Brazilian government owns a majority stake in Petrobras, which gives it both political backing and political risk. The company earns money by selling crude oil, refined fuels, and natural gas, mostly within Brazil but also through exports. With gross margins near 47%, its low-cost pre-salt fields give it a real cost advantage over many global peers. The biggest risk is government interference — past administrations have forced the company to sell fuel below market prices, which badly damaged profits, and that policy risk has not fully gone away.