Brazil’s Petrobras Flying into Headwinds | Aviation International News

Brazil’s Petrobras Flying into Headwinds

The company is embroiled in an international corruption scandal that could limit its future access to capital markets and retard exploration projects.

By Mark Huber • Contributor

January 22, 2015

The oil price slump is just the latest headwind confronting Brazil’s largest and majority state-owned oil company, Petróleo Brasileiro, commonly known as Petrobras. While some analysts believe that Petrobras’s deepwater offshore wells will continue to be profitable even if oil prices were to fall as low as $50 per barrel, that might be a moot point. The company currently finds itself embroiled in an international corruption scandal that could limit its future access to capital markets and retard those deepwater energy exploration projects. If that happens, it could have serious implications for international OGP (oil and gas production) helicopter companies, which have already bet heavily on the aggressive expansion of Brazil’s energy sector, and the leasing firms and OEMs that support them.

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