Petrobras moves up 10 spots to 8th largest publicly trade company in world
29 April 2011
Petrobras, the Brazilian oil, gas and energy company, has become the world’s eighth-largest publicly traded company, according to a ranking prepared by Forbes magazine. In this edition of the ranking, the Company moved up ten positions compared to 2010, when it held the 18th place.
Petrobras ranked fifth in the profit and market value categories, and it is the only Latin American company to appear among the top 10. The ranking uses data such as profit, income, assets, and market value to assess the largest companies.
Also in 2011, Petrobras was rated the third biggest energy company in the PFC Energy 50 ranking based on market value, and rose from sixth to fourth place among the leading global companies operating in the industry in the ranking prepared by the Platts agency.
Petrobras is said to be number one in deep water drilling. Combined with their sugar cane ethanol position in the country reducing domestic demand for oil, they can now export. This is why the administration is courting them, they can see tankers full of oil sailing into refinery ports in the Gulf of Mexico. Anything to reduce dependence on OPEC oil.
Posted by: SJC | 29 April 2011 at 09:26 AM