Frozen fuel prices make it difficult for Petrobras to engage in ambitious development program

Monday, June 18th 2012 - 03:18 UTC

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Brazil's state-led oil company Petrobras is likely to struggle to find the cash to pay the recently announced world's largest corporate investment program. The country needs money to pay hundreds of ships and dozens of oil fields, drill-rigs and platforms it wants in order to catapult Brazil into the ranks of the world's top-four oil producers by 2020. Read full article

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Max
What about investment ?
The world oil terminals run already ~ 80 % capacity.
Jun 18th, 2012 - 01:35 pm - Link - Report abuse 0
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Conqueror
@1 “What about investment”? Did you “read” the article? Were some of the words too long? The company doesn't have enough money to invest. It's going down the tubes because its government doesn't understand market economics. It's a common problem with S.Am. governments.
Jun 18th, 2012 - 03:59 pm - Link - Report abuse 0
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ChrisR
The woman in charge of Petrobras must have known the difficulties in running a business with the Preseident on her back making announcements that are beyond a joke given that the fuel price has not risen since 2008!

Perhaps Rousseff is relying on 5 loaves and 5 fishes to make up the shortfall because nothing on this world will.

Cake and eat it jumps to mind.
Jun 19th, 2012 - 08:26 pm - Link - Report abuse 0
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