Petrobras the third biggest company in the Americas by market value

20/5/2008 10:11:45

Petrobras is the third biggest company in the Americas by market value, surpassing American outfit Microsoft, and the world’s sixth biggest based on the same criterion.

According to information published by the press today (05/19), Petrobras’ market value has reached $295.6 billion (R$487.9 billion), higher than Microsoft’s ($274 billion). The Company is now the third biggest in market value in the Americas, only trailing Exxon Mobil Corp. and General Electric Co.

Petrobras’ market value is also higher than that of the Industrial & Commercial Bank of China Ltd ($289.3 billion), ranking Petrobras as the sixth biggest in market value in the world.

Petrobras’ growth is the outcome of market recognition, of its excellent operating and financial performance, and of the Company’s growth perspectives, with the spotlight on the recent oil and gas discoveries made in the pre-salt layer, over and beyond the heated demand for oil in developing countries. This performance can be confirmed by the increase in Petrobras’ shareholder base and by the liquidity of its shares and ADRs traded at the São Paulo and New York Stock Exchanges.

Petrobras press release