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

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

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