15 June 2012

BRASIL: Analysts Badmouth Petrobras Performance.


     Poor Petrobras.
     Not so long ago...it was the darling on energy analysts.
     Now...not at all.
     Last year...it's output barely grew...even with promising new pre-salt fields...with an average of only 2.6 mn bbl daily.
    In April...it set a 20 month low in production.
    Analysts are calling PBR ...the worst investment in big oil.
    It has lost 22% of investor value so far in 2012.