Monday, May 16, 2011

Petrobras Q1 2011 Record Profits

It ´s worth to take a look to the Petrobras results realeased in 13th of May because it depicts a picture of future oil consumption in brazil. I cast no doubt that Petrobras will achieve its plans to double crude output by 2020. Even with subsidies to gas and diesel in the Brazilian market Petrobras managed to report the biggest income in its history so that depicts to things:

Energy consumption is growing steadily in Brazil and I think it is only 2 to 4 years away from displace Canada and Germany in energy consumption.

Second: Even with subsidies , Petrobras is a growing and very profitable business.

*this article or any of the previous or following ones does not constitutes any investment advice or suggestion.

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