Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



This Once Promising Oilfield Is Now Looking Pretty Grim

For a couple of years now, energy companies, investors, and Brazilian officials have been waiting on what would come from the Brazilian pre-salt auction. Unfortunately, it didn't turn out the way many had anticipated. Of the 40 companies that were expected to file an intent to place bids, only 11 of them actually did. More importantly, some of the household names in Big Oil were absent from the list. For investors who were looking at Brazilian pre-salt fields as the next great investment opportunity, you may be disappointed. 

So what does this mean for the future of Petrobras (NYSE: PBR  ) ? Tune in to the following video, where contributor Tyler Crowe explains why this is not a good sign and what could be one glimmering hope for the pre-salt fields. 

Can investors still profit?
As disappointing as this news may be, the biggest determining factor for the pre-salt fields and almost every major oil project today is the price of oil. With prices hovering above $100 a barrel, there are some unique investment opportunities that you should watch for. We've put together a special report called "3 Stocks for $100 Oil" that highlights a trio of companies that are posed to profit in a big way from the current price environment. Let us help you discover the names of these three companies. Simply click here and we'll give you free access to this valuable report. 

Read/Post Comments (1) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On October 01, 2013, at 12:17 AM, ContangoDown wrote:

    I agree with the premise of the article : over the years, we've seen a very volatile range of 30 to 40% peak-to-trough movements in the context of a terrible downtrend. Yes, the current price action appears to be basing but the reality is, we've seen this story time and time again.

    Also, the financial statements continue to show margin and asset erosion and the underlying macro environment of Brazil puts a lot of question marks on PBR and the commodities sector in general.

    The market behavior today (9/30/2013) was too lethargic and the bull case is unconvincing.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2659543, ~/Articles/ArticleHandler.aspx, 9/28/2016 6:27:36 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:00 PM
BP $34.84 Up +1.23 +3.66%
BP CAPS Rating: ****
CVX $102.15 Up +3.17 +3.20%
Chevron CAPS Rating: ****
PBR $9.50 Up +0.44 +4.86%
Petroleo Brasileir… CAPS Rating: **
TOT $47.19 Up +1.28 +2.79%
Total CAPS Rating: ****
XOM $86.90 Up +3.66 +4.40%
ExxonMobil CAPS Rating: ****