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Petrobras

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Working with them currently and on the whole yes. Everytime that they stick an exploration rig somewhere it comes up with the goods. In a world of dwindling supply and a coastline that exclusive (until the US decide foreign democracies need "protecting against terrorism") it is only good.

The only issue is they insist on working with a lot of Brazilian suppliers who are either corrupt or always late. Witness P54 (for those that know about FPSO's).

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Working with them currently and on the whole yes. Everytime that they stick an exploration rig somewhere it comes up with the goods. In a world of dwindling supply and a coastline that exclusive (until the US decide foreign democracies need "protecting against terrorism") it is only good.

The only issue is they insist on working with a lot of Brazilian suppliers who are either corrupt or always late. Witness P54 (for those that know about FPSO's).

Agree with that broadly although they have some real demographic issues around their workforce, are not known for their ability to play well with other companies and outside their core strengths, and their recent 'discoveries' are not perhaps looking as positive as a year ago.

Reasonably politically stable etc of course and potential so all in all a decent bet if you want a commodity/ energy play.

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