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Petrobras value grows 87% to a record R$430 billion
RIO DE JANEIRO
Petroleumworld.com, Mar 10, 2008
Financial and Investor Relations Director, Almir Barbassa, said that last year "Petrobras reached extraordinary results and doubled its market value. The company’s total investments in 2007 were R$45.3 billion, 34% more than a year ago." Petrobras reported in a press release.To Barbassa, "the company earned Bovespa shareholders an 84% return in one year. Meanwhile, New York Stock Exchange shareholders’ rate was 131%. "This happened because of the pre-salt reserves. The market understood this changes the company’s value."
The company’s net profit was R$21.5 billion. Oil production increased in 2007, and is expected to grow even more in 2008 because the platforms that went online last year have not reached peak production capacity yet.
The 4th quarter and year end 2007 results, high-resolution photos, and the presentation made by Financial & Investor Relations Director, Almir Barbassa, are available to journalists in the site’s exclusive Content area.
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