Post by ukipa on Jun 15, 2012 18:13:47 GMT 4
Petrobras Worst Big Oil Bet on Deepwater Disappointments
Petroleo Brasileiro SA (PETR4) is the worst investment among the world’s biggest oil companies this year as Brazil’s state-controlled producer suffers delays and cost overruns developing the largest oil finds in more than a decade.
Petrobras, as the world’s biggest producer in waters deeper than 300 meters (984 feet) is known, has lost 19 percent for investors this year in U.S. dollar terms, the worst performance by oil companies with a market value of more than $50 billion, according to data compiled by Bloomberg. Colombia’s Ecopetrol SA (ECOPETL) returned 41 percent and Cnooc Ltd., China’s biggest offshore producer, yielded 10 percent, marking the biggest winners.
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www.bloomberg.com/news/2012-06-15/petrobras-worst-big-oil-bet-on-deepwater-disappointments.html