• Categories
  • Archives

Brazil’s Petrobras and Its Stock Are the Hottest Ticket in Town, Says Fortune

Some good news for Petrobras and Brazil. First, Petrobras – Petróleo Brasileiro S.A.- is the best placed Brazilian company on this year’s Fortune 500 list at number 125. But its stock also made the Fortune 40 list of Best Foreign Value.

At the top of the Fortune 500, is Wal-Mart, followed by three petroleum companies: British Petroleum, ExxonMobil and Shell Group.


According to Raul Campos, Petrobras Investor Relations manager, the spike in international oil prices resulted in an average 67% increase in profits in the sector.


“This is a very good moment for us,” he said, adding that Petrobras also has a bright future.”


Campos said that Petrobras’s strength lies in the fact that it is engaged in various new projects. Unlike many other oil companies, Petrobras has good short-term chances of increasing its production levels, he explained.


That was reflected in the fact that Petrobras made the prestigious Fortune 40 list, as well.


That is a list of stocks, with capital of over US$ 1 billion and listed on the New York Stock Exchange, that the magazine expects to rise most strongly over the long term.


Campos pointed out that since 2003, Petrobras stock has risen from US$ 14 a share to US$ 50. And the tendency is for further growth, with some analysts forecasting US$ 65 by the end of this year.


ABr – www.radiobras.gov.br

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Some Believe It’s Latin America’s Turn and that Next Pope Will Be Brazilian

With Pope Benedict’s stunning announcement that he will resign at end of the month, ...

‘I Won’t Quarrel with Chavez, He’s My Friend,’ Says Brazil’s Lula

Brazilian President Luiz Inácio Lula da Silva admitted Friday, July 6, the existence of ...

Brazil’s Benchmark Interest Rate the Lowest in 5 Years

For the eighth time running Brazil’s Central Bank on Wednesday, May 31, cut the ...

RAPIDINHAS

By Brazzil Magazine Showbiz Peeled to the Soul She’s been called Leoa do Norte ...

Tear Down the Wall!

Perhaps the most powerful argument for eliminating visa requirements is that they’re simply a ...

Brazil's College FAAP

Arabs and Jews Mix and Mingle in Brazilian College

Brazil's Fundação Armando Àlvares Penteado (FAAP) exchange course agreement, started in  2002, had not ...

2004, a Banner Year for Brazil’s Coops

The cooperatives from the state of São Paulo, in the Southeast of Brazil, had ...

Brazil’s State Firm Embrapa Creates 14 Transgenic Species. Seeds Are for Sale.

In a special program, "Soybeans – A Big Business," broadcast on Friday, January 20, ...

Brazil Reopens Oil Wells Abandoned Due to Low Production

The situation prevailing in the petroleum sector, with demand in frank expansion and petroleum ...

Brazil’s Growth Recipe: Exports Up and Inflation Down

Brazil’s Institute of Applied Economic Policy (Ipea) released its Conjunctural Bulletin #68, with revised ...