This is a bit troubling. This company only made $15 billion last year and is now primed to make $70 billion. That is quite a jump for a foreign company. What else is troubling is that this company benefited from the 6 month moratorium that President Obama passed after the gulf oil spill this summer. And don't forget that Obama's good buddy billionaire philanthropist and investor George Soros also invested hundreds of millions into this company to benefit from our disaster. This is a guy who wants to bring down capitalism and wants Global Governance. Look it up. There's an article here from the site "The Future Of Capitalism" related to this from earlier in the year.
Yahoo!/AP: Brazil's state-run Petrobras became the world's third-biggest oil firm by market capitalization Monday as it completed a record share issue expected to bring in around 70 billion dollars.
After selling the stock on the New York stock exchange from last Friday, in the form of American Depository Receipts, the company began also selling the shares Monday on the Sao Paulo stock exchange.
Those shares rose 1.93 percent to 30.23 reals by the end of trading -- higher than the 29.65 reals the new shares were priced at for trading, showing strong demand.
The offering has made Petrobras the third largest oil company in the world after US-based ExxonMobil and PetroChina.
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