Brazilian oil giant Petrobras (PBR) has been the ugly duckling of big oil companies.
Petrobras affirms the construction of the roads and the new port should take six months.
The likes of Petrobras (oil), Vale (mining) and Embraer (planes) were indeed created by the government.
Last May, Petrobras agreed to lower gasoline prices by 6% to help the country fight inflation.
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Anyone with a BRIC or emerging market portfolio is likely going to be holding Petrobras.
FORBES: 'Cheap' Gasoline, Weak Earnings, Output Drop Hurting Petrobras Shares
Gasoline prices, reflecting recent price increases granted to Petrobras (PBR), rose 4.10% from January.
Argentina has approached international companies including Chevron, Apache, Exxon Mobil, Petrobras, and Gazprom.
Some of the biggest losers on the day are Brazilian oil major Petrobras (PBR).
Lower oil prices and a sell-off in global equities, especially emerging markets, have taken Petrobras down.
Petrobras was actually an underperformer and continues to underperform the Brazilian stock market to this day.
FORBES: How the Wall Street Journal Set Off a Firestorm Against Petrobras
Petrobras is majority owned by the Brazilian government and is a major deep water oil driller.
FORBES: How the Wall Street Journal Set Off a Firestorm Against Petrobras
As a result, Petrobras is well on its way to the A-list of Big Oil.
FORBES: How the Wall Street Journal Set Off a Firestorm Against Petrobras
From that moment until August 31, 2009, when the Journal piece ran, Petrobras shares rose 27.9%.
FORBES: How the Wall Street Journal Set Off a Firestorm Against Petrobras
However petrobras will be drilling in gulf (but at the ultimate deep water level).
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The biggest peril for Petrobras would be if the new outfit becomes a commercial rival.
Although the investigation may do some damage to Petrobras's reputation, this is likely to be slight.
He is nuetral on Petrobras because he expects mid-term administration difficulties, higher costs and higher debt.
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Petrobras said in a statement that no data appears to have been stolen from the attack.
However, over the last 12 months, the fund has beat Petrobras and Vale handedly.
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Of the two, Landers seems to like the fundamentals behind Vale more than he does Petrobras.
FORBES: Brazil's Most Actives Not Overweight for BlackRock LatAm Fund
Take Brazilian government owned oil company Petrobras and energy holding company Eletrobras , for example.
Brazilians also saw gasoline prices rising 1.96% (though, funny, Petrobras shares are still in free fall).
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But a major dilution of shares last year has turned investors off to Petrobras.
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There is still a small premium on Petrobras because of its oil discoveries and reserves.
FORBES: Barclays Reiterates Overweight For Brazil's Petrobras
The good news from the oil finds did not boost Petrobras shares on Friday, however.
Petrobras is known worldwide for its ability to find and capture deep water oil deposits.
Like Mexico's Pemex, Venezuela's PDVSA needs to adopt the winning model of Brazil's Petrobras.
Barclays warned on Friday that Petrobras could be a value trap over the next 18-24 months.
On Friday, Barclays Capital said that Petrobras remained an equal weight despite all the negatives.
The way Petrobras has gone about raising funds has not always been popular with equity investors.
FORBES: Barclays Reiterates Overweight on Brazil's Petrobras
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