Brazil’s Petrobras Joins the Exclusive US$ 100 Billion Club

For the first time ever, Brazil's oil giant state-controlled Petrobras shares reached the value of US$ 103 billion, monthly average market value, equivalent to 221 billion reais, considering average exchange rates for the period.

According to information disclosed in a company statement, this numeric value had already been reached between April and May 2006, but never before had a monthly average been over US$ 100 billion. At the closing of the year, the company's market value had reached US$ 108 billion.

In the company's evaluation, "transparent and ethical activities and engagement with shareholders guaranteed – in a global scenery that is favorable to oil companies – excellent performance for Petrobras shares in 2006."

The statement adds that the appreciation of the ordinary shares (with voting rights) was 32% over the year, whereas the preferred shares (with preference for the receipt of dividends) posted growth of 34%. Over the period, the São Paulo Stock Exchange Index (Ibovespa) appreciation was 33%.

In the New York Stock Exchange, the performance of Petrobras American Depositary Receipts was even stronger, adds the statement: ordinary receipts presented growth of 45% in 2006, and preferred receipts, 44%, whereas the Amex Oil sector index (which measures the performance of the main global oil companies) presented appreciation of 20%.

Tags:

You May Also Like

Brazil Poised to Become World’s Top Wet Nurse

Brazil could climb from seventh to first position as the world's main milk producer ...

Foreigners Invest US$ 13 Bi in Brazil in 4 Months, a 26% Boost

US$ 12.7 billion entered Brazil in the form of foreign direct investment (FDI) in ...

Finance Minister Deplores Brazil’s Barriers to Foreign Information Techonology

Brazil’s Minister of Finance, Antonio Palocci called for greater economic liberalization in Brazilian industrial ...

Presidential candidate Rousseff Wants More State Capital in Brazil’s Airlines

Dilma Rousseff, the Brazilian presidential candidate handpicked by president Luiz Inácio Lula da Silva, ...

Brazil Gets UN Security Council’s Presidency

Brazil assumed the presidency of the United Nations (UN) Security Council this past Monday, ...

Cruz e Sousa: Mystic Secret Templar

By Brazzil Magazine És o secreto e místico templário As almas, em silêncio, contemplando.1 ...

In Brazil, Torture Is Still Favorite Interrogation Method

The Constitution of Brazil declares that the government of this country cannot punish individuals ...

Google, Hottest Internet Property in Brazil with 27 Million Visitors a Month

Brazil access to the Internet is growing in a fast pace. New numbers from ...

What a Shame! We Brazilians Are a Bunch of Narcissistic Hypocritical Scoundrels

On the last day of 2009, amid the New Year’s congratulations, a serious fact ...

Despite Poor Supermarket Sales Commerce Gets Little Boost in Brazil

Commercial sales in Brazil grew for the second straight month, after having racked up ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`