Yes tomorrow Petrobras will have an earnings bomb with refining to blame since Guido Mantega the Chairman of the Board forces Petrobras to sell gas the the 6000 stations below cost, forces Petrobras to build Refinaries in Pernambuca and Rio with huge cost overruns and runs up debt faster than Eike Batista. This wil play out like Citigroup. Back to single digits, then a ten for one reverse split. The PT, Worker's Party, is in charge here. These guys are planning a wealth tax in Brazil. This is a wealth transfer and jobs creation without any care about dividends or earnings here.
Fridge .. I agree with you .. but I think the bad news is already in the stock .. if the news is that bad ... the stock can go back down into low 13's ... but I still think its a bottom... Remember George Soros bought 30 million shares at 30 plus dollars a share .. at some point this becomes a national emergengcy for the country ... Petrobras in Brazil is ""too big to fail""..JMHO
I believe Petrobras will pull a Citigroup. Drop to a dollar a share followed with a 10 for one reverse split. Guido Mantega is calling the shots here. He is a buddy of Fidel Castro. You really think selling gas at the pumps below cost is good for shareholders?
Speaking of hot air. Brainless wooly better hush bozzo you have nothing to contribute. GPLS you might be correct. We shall see. I think PBR will go BK. They will never generate enough cash to pay their debts off. Can't wait to see the new balance sheet.