MercoPress. South Atlantic News Agency
Oil price plunge distorts Brazilian market and leaves Rio cash strapped
Brazil's President Dilma Rousseff approved a resolution to maintain the current system for establishing the minimum price of oil on which royalty payments are paid by state-run oil company Petrobras to local governments. Read full article
Comments
Disclaimer & comment rulesThat's a really quick way to get rid of all of your production and send the Int'ls out of the country.
Jan 25th, 2016 - 01:15 pm - Link - Report abuse 0I told you the Marxists would go back to type. Tax Spend Deflate Crash
Its all they know.
The fat cow puts her foot in her mouth, yet again. She thinks she can legislate her way out of the crisis. Resigning would be a solution.
Jan 25th, 2016 - 03:33 pm - Link - Report abuse 0But I'm interested in hearing the BRasshole's take on the price of crude extracted from subsalt areas, needed to break even..........he told us last week that the cost was of extraction was only US$ 8 to 9 per barrel....
Brasshole ???
@ 2 Jack Bauer
Jan 25th, 2016 - 06:33 pm - Link - Report abuse 0He forgot the zero after the 8 or 9!
DumbAss Dilma can't help but do exactly the wrong thing every time.
I wonder if the Military are firming up their plans to sort this crap out once and for all?
$ 8 a barrel! This is the cost of Petrobras extraction in the pre-salt.
Jan 25th, 2016 - 07:12 pm - Link - Report abuse 0http://www.jb.com.br/economia/noticias/2016/01/13/alta-produtividade-garante-que-pre-sal-seja-viavel-mesmo-com-barril-em-queda/
$8 to get it out and $20 for the barrel.
Jan 25th, 2016 - 07:46 pm - Link - Report abuse 0That doesn't leave much for transportation or overhead.
Or paying back the U$130B they owe.
PBR less than U$3
Default 3...2...
I have said for what reasons Petrobras is impossible to break.
Jan 25th, 2016 - 07:50 pm - Link - Report abuse 0Already the North American oil companies are breaking by the dozen.
PBR market cap is U$11B
Jan 25th, 2016 - 08:04 pm - Link - Report abuse 0Its a mid cap stock here
Pittance and irrelevant
Exxon/Mobile is 30X larger than PBR.
Bras you're just too brainwashed to be taken seriously.
Was curious to see what PB had to say about 'their own' performance, so I opened the BRasshole's link @4 : PB alleges their cost of extraction is US$ 8 per barrel....but that value does not include royalties, 'special participations' (whatever that is - perhaps the PT's secret participation ?), nor return on investment. According to the same article, when the sub-salt projects were approved, PB expected the price per barrel ('Brent') to be between US$ 45-US$ 52, including all the taxation costs, for the investment to be economically viable. Today, the price (of 'Brent') is US$ 30......and in their last announcements regarding their 'very efficient' operation, they have omitted mentioning the new break-even point....I wonder why ?
Jan 26th, 2016 - 04:27 pm - Link - Report abuse 0But going back to the BRasshole's passionate defence of PB, by saying it “is impossible to break”, I'm inclined to agree with him, but for totally different reasons ; The fat cow has already 'suggested' that the national Treasury funds might be used to bail out PB, or even the use of Brazil's international reserves....as brainless and illegal that may be, the sad fact is that the PT knows, if PB breaks, they disappear along with it.
Brazil doesn't have enough money to bail out PBR. The best they can hope for is that the parts they sell off have buyers.
Jan 26th, 2016 - 04:45 pm - Link - Report abuse 0Don't be surprised if loans start to be called when it gets to U$1/share.
That may be next week :)
PBR is as toxic as Brazil is right now.
The majors will pick the good parts out and leave Brazil with the carcass and the debt.
Very soon oil will only be used by poor countries. Its time is almost done.
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