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%.


  • 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Your email address will not be published.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.


You May Also Like

Brazil Wants Debt Relief from World for Investing in Education

Immediately after the announcement of the UNESCO Index of Educational Development, ranking Brazil 72nd ...

Brazil: Five Landless Dead in Attack by Hooded Gunmen

An attack on an MST (Landless Rural Workers’ Movement) campsite in Minas, Gerais state, ...

Compromising Tapes

It is still not clear who is behind the mud-throwing effort. The President seems ...

Brazil Gets Prize for Environment Disaster Preparadness

A scientific support center from Brazil and a leading Swiss laboratory are among the ...

Oil pipeline in São Sebastião on the São Paulo coast, Brazil

Brazil Gets Ethanol/Gasoline/Diesel Pipeline

The Brazilian southern state of Paraná will have a multi-pipeline, which will transport alcohol ...

Traveling with a Purpose

Travelers will soon be able to work the ground at a farming settlement in ...

Brazil Promises US-Comparable Telecommunications Technology for Lower Price

The CPqD – Telecom and IT Solutions, a private foundation from the interior of ...

Brazil Wants to Create 15 New Conservation Units in the Amazon

At present the state of Amazonas, in Brazil, has 14 million hectares of protected ...

Brazil Is World’s 6th Textile Producer But 42nd Exporter

The director of the Brazilian Textile and Clothing Industry Association (Abit), Fernando Pimentel, is ...