Petrobras (PBR): This Giant Oil Company Is Headed for Disaster

wolfstreet.com / By Matt Badiali, editor, Stansberry Resource Report / January 9, 2015
Of all the companies hurting from lower oil prices, few are in more danger than Brazilian oil giant Petrobras.
The state-owned oil company owns some of the largest untapped oilfields in the world; so it’s a darling of emerging-market investors. And with shares down around 50% over the past year, many investors now think it’s cheap enough to buy.
But it isn’t. The company’s spending is out of control, its profit margins are shrinking, and its debt is soaring. In short, Petrobras is a study in how not to run an oil company.
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