Experts tip Petrobras for future growth

Date added: 18th June, 2008 at 14:25 (view all articles from June, 2008)

Categories: Natural Resources

Brazil's oil company Petrobras could be poised to become the world's most valuable firm, a report has suggested.

An article in Newsweek cited investment expert Ken Heebner, who recently said that the company could soon be considered one of the most expensive in the world based on share price.

The publication noted that the claim spoke "volumes about how fast Petrobras, Brazil and world markets are changing".

It added that the current global situation meant that oil companies were rapidly "blowing past technology titans".

What's more, the publication stated that Petrobras was in a unique position to cement its position as a major global player.

"Brazil has streamlined into a darling of emerging-market investors, and so has Petrobras," Newsweek reported.

"It's now perhaps the lone example of a competent state company with huge new reserves … If oil prices keep rising, Petrobras is likely to follow."

Recently, BG Group Petrobras and Repsol YPF reported that they had discovered new oil deposits in the Santos Basin, off the coast of Brazil.

Email this article to a friend

Related Articles