These are interesting times for current and potential investors in Brazilian energy giant Petrobras (NYSE:PBR). Everybody concedes that the massive offshore finds that BG Group announced in 2006 (the Tupi field) and Petrobras announced in 2008 (the Jupiter field) will be transformative for Petrobras and Brazil as a whole. Since then, however, there has been a fair bit of confusion over how Brazil would manage these finds and what exactly Petrobras' role would be.
Even with most of those questions answered, however, there is still a pause surrounding Petrobras. It is clear that this giant company is going to have to launch significant financing efforts, including a share offering, and many potential investors are waiting on the sidelines until they get better clarity about the size and timing of the deal.
For the complete article:
http://stocks.investopedia.com/stock-analysis/2010/Hurry-Up-And-Wait-For-Petrobras-Investors-PBR-CVX-COP-PTR-HAL-RIG-CAM0818.aspx
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