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Ninety percent of Petrobras’s domestic production comes from beneath the waters of the Atlantic Ocean. In 2009, it pumped 20% of all the oil drawn worldwide from water deeper than 1,000 feet (300 meters), more than any other oil company. Exxon was second. What are the dangers of another massive oil gusher, this time in the deep waters off Rio's coast? Investors also complain that the government is demanding too much control over Petrobras. Lula has said that BP cut corners “to do it cheaper” at its Macondo well. “In Brasil, we will not allow something like this to happen,” he said.
04 August 2010
BRASIL: Petrobras Spill Peril And Stock Dilution Chill Investors.
Ninety percent of Petrobras’s domestic production comes from beneath the waters of the Atlantic Ocean. In 2009, it pumped 20% of all the oil drawn worldwide from water deeper than 1,000 feet (300 meters), more than any other oil company. Exxon was second. What are the dangers of another massive oil gusher, this time in the deep waters off Rio's coast? Investors also complain that the government is demanding too much control over Petrobras. Lula has said that BP cut corners “to do it cheaper” at its Macondo well. “In Brasil, we will not allow something like this to happen,” he said.
