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$25 Bees. Now that's a serious capital raising.
So much for the imminent death of deepwater offshore crude exploration and production...
So much for the imminent death of deepwater offshore crude exploration and production...
Petrobras Borrowing Costs Drop From Record as Share Sale Nears
June 7 (Bloomberg) -- Growing confidence in Petroleo Brasileiro SA’s plan for the biggest stock sale in the Americas is driving its relative borrowing costs down from a record high even as Europe’s debt crisis rattles world markets...
...Petrobras named six banks last week to manage its $25 billion stock sale in a sign the state-controlled oil producer plans to proceed with the offering...
...Petrobras, which is seeking legislative approval for the sale, is selling equity to fund a $220 billion, five-year spending plan through 2014, the world’s biggest oil-industry investment program, as it seeks to develop fields such as the offshore Tupi block, the largest crude discovery in the Americas since 1976. The plan includes swapping stock for the right to tap 5 billion barrels of government-owned reserves off Brazil’s coast. Brazil owns a 32 percent stake in Petrobras and controls the company through a majority of voting shares...
June 7 (Bloomberg) -- Growing confidence in Petroleo Brasileiro SA’s plan for the biggest stock sale in the Americas is driving its relative borrowing costs down from a record high even as Europe’s debt crisis rattles world markets...
...Petrobras named six banks last week to manage its $25 billion stock sale in a sign the state-controlled oil producer plans to proceed with the offering...
...Petrobras, which is seeking legislative approval for the sale, is selling equity to fund a $220 billion, five-year spending plan through 2014, the world’s biggest oil-industry investment program, as it seeks to develop fields such as the offshore Tupi block, the largest crude discovery in the Americas since 1976. The plan includes swapping stock for the right to tap 5 billion barrels of government-owned reserves off Brazil’s coast. Brazil owns a 32 percent stake in Petrobras and controls the company through a majority of voting shares...
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