|
|
Article: Brazil : Petrobras Rises to 2-Month High on Campos Basin Oil Discovery.
- Article from:
- TendersInfo
- Article date:
- August 22, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: manish03
Petroleo Brasileiro SA, Brazil s state-controlled oil company, rose to the highest in two months in Sao Paulo trading after it said it discovered more oil in the offshore Campos basin.
Petrobras gained 1.9 percent to 33.67 reais at 10:18 a.m. New York time, the highest since June 12. The American depositary receipts advanced 3.2 percent to $44.39 in New York. OGX Petroleo e Gas Participacoes SA, the second-largest oil company which also owns concession in the Campos basin, rallied 4.2 percent to 1,187.99 reais.
The company said last night preliminary analysis indicates the presence of 280 million barrels of recoverable light oil ...