Monday, January 3, 2011

PBR Jumps; Performance That Cannot Be Matched; Pre-salt Reserves Starting to Produce

While XOM is on the news and alerts for making new 52-week hihs, the real action lately has been on PBR, the Brazilian oil giant. Please see its stock price in the last 10 days or so:

PBR and XOM comparison:

The reason is that PBR announced its results for the year, and they rock. They have announced an increase of their targets daily production for 2011. With its huge pre-salt reserves now starting to come online and producing (slowly), that is something that XOM cannot match.

PBR has recovered from the IPO, money to be used for the new wells.

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