Brazilian oil and natural gas company Petroleo Brasileiro (PBR, quote) (a.k.a. Petrobras) has rebounded recently, up 8.12% for the week and 17.35% for the month. Over the same time periods, the main exchange traded fund for oil, United States Oil (USO, quote), has risen by 2.29% and 8.23%, respectively.
Brazil’s oil industry and Petroleo Brasileiro S.A. (PBR, quote) have great potential. Petrobras shares have floundered in recent trading due to the falling price of oil (USO, quote), but this is still a dividend-paying stock with a huge upside. While Brazil still imports oil, the gap between domestic production and consumption is dwindling.
Brazil’s richest man Eike Batista is making business headlines, but not for the right reasons. 2011 was a bad year for his EBX Group, but this year looks even worse. Is Brazil losing faith in its greatest entrepreneur?
Wednesday’s best web covers natural gas in China, international farming and real estate ETFs, potential M&A within Russian banking, Malaysian economy fundamentals and Chevron resuming oil production in the Frade Field.
Tuesday’s best web covers Petrobras’ new CEO, increased Kremlin control of oil and gas, automotive production in Turkey, Telkom’s rejection of foreign investment, and returns on emerging market bond investments.