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Two of Brazil's states plan to file lawsuits with the country's Supreme Court to fight changes...

Two of Brazil's states plan to file lawsuits with the country's Supreme Court to fight changes to oil royalties payments that could cost the states billions of dollars in revenue. The moves follow a vote by both houses of Brazil's Congress to overturn a presidential veto of key portions of a controversial oil royalties bill.
Comments (4)
  • Does this mean an end to PBR's run up?
    7 Mar 2013, 02:58 PM Reply Like
  • PBR's run up is nothing more than a dead cat bounce as this stock is destined to sub mediocre performance.

     

    PBR is essentially a state owned oil company with no chance of enjoying the benefits of the "free market".

     

    From a business standpoint this stock should not be allowed to trade on our markets as the warnings of it's handicaps are non-existant.
    7 Mar 2013, 04:00 PM Reply Like
  • My concern exactly! Does anyone have any insights on this?
    7 Mar 2013, 04:01 PM Reply Like
  • I'm an investment advisor with an international brokerage firm. My view on Petrobras is that at 14.50 it had fallen much too much; the company has a good future although recent government restrictions made its outlook look worse. The fact that the government has agreed to some fuel price increases implies that the government is taking more seriously Petrobras' needs as a business; and the fact that Petrobras is curbing its renting to new rigs indicates that the company is dealing with its more uncertain future. Both positive factors, although there is no reason to believe that the price will continue to move sharply upward.
    8 Mar 2013, 01:20 PM Reply Like
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