Largest ever share offering raises $70Billion

As the B.R.I.C. countries flex their muscles in the ever changing world economy, the Brazilian state oil company, Petrobras has raised a whopping $70 billion in the world’s largest ever share offering.

The cash will help fund the world’s largest oil exploration plan, which at $224 billion for the 2010-2014 period aims to turn Brazil into a major energy exporter.

More coverage of this story is available from Reuters and the New York Times

Advertisements
This entry was posted in Brazil, Energy, South America and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s