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%.

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