Petrobras Valued at US$220 Billion

By Doug Gray, Senior Contributing Reporter

RIO DE JANEIRO – Petrobras President Sergio Gabrielli was celebrating the world’s biggest ever share offer at the end of last week that, according to Brazilian Finance Minister Guido Mantega, now gives the company the second biggest market value in the world. Only Exxon, at US$290 billion, is now higher, leaving Chevron and Shell trailing behind.

The US$67.9 billion share offer gives Petrobras an estimated market value of US$220 billion, and dwarfs the previous all-time biggest share offering of US$36.8 billion by Japanese mobile phone company NTT . . .

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