In a Decade Brazil’s Petrobras Jumps from 27th to 3rd Place in the World

Brazilian Petrobras Based on market capitalization, the prestigious PFC Energy 50 list of the world’s biggest energy companies now has Brazil’s state-run Petrobras in third place.

According to PFC Energy, Petrobras, with a market capitalization of US$ 228.9 billion, is by far South America’s biggest energy company (the second biggest energy company in the region is Colombia’s Ecopetrol with a market capitalization of US$ 87 billion).

Worldwide, Petrobras is behind only ExxonMobil (US$ 368.7 billion) and PetroChina (US$ 303.3 billion). Petrobras is bigger than third-place Royal Dutch Shell (US$ 207.9 billion), fourth-place Chevron (US$ 183.6 billion) and the Russian giant, Gazprom (US$ 149.4 billion), in fifth place.

In a note, Petrobras points out that as far as the PFC Energy 50 list is concerned, the company has been doing very well, thank you. Suffice it to say that, in the first PFC Energy 50 ranking of 1999, Petrobras was in 27th place (with a market value of US$ 13.5 billion).

In a note, PFC Energy points out that in 2010 a decline of 23% in stock prices at Petrobras was compensated by a successful US$ 67 billion capitalization campaign.

Petrobras domestic production of petroleum in December, at an average 2.12 million barrels per day, was up 6.8%, compared to production a year earlier in December in 2009, and up 4.5%, compared to the previous month of November 2010.

And was a new monthly daily average record for the company, superior to the former average daily record of 2.03 million barrels for the month of April 2010.

Petrobras says production increases are due to the entrance into operation of the P-57 oil rig (in the Jubarte field in the Campos Basin) and new wells in other fields, also in the Campos Basin (Cachalote/Baleia Franca and Barracuda/Caratinga), as well as successful tests at the Guará field in the Santos Basin that is part of pre-salt drilling operations.

Total production (petroleum and natural gas) in Brazil in December was an average 2.49 million barrels daily (up 7.9%, compared to December 2009).

Natural gas production domestically in December reached a daily average of 58,7 million cubic meters (up 15%, compared to December 2009).

ABr

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