Some Energy Company Specific News

By: TraderMark Tuesday, May 20, 2008 2:43 AM

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I've mentioned quite a few times in the past (May 13: Petrobras (PBR) Business as Usual) that in due time I believe this company will be the largest, by market capitalization, in the world. Bloomberg shows us that PBR just passed Microsoft (MSFT) as #6.

Petroleo Brasileiro SA, owner of the Western Hemisphere's largest oil discovery in three decades, passed Microsoft Corp. and Industrial & Commercial Bank of China Ltd. to become the world's sixth-largest company by market value.
Petrobras surged with other oil and metals companies as growth in developing countries such as China and India increased demand for raw materials. Six of the top 10 companies by market value are energy or mining companies, while three are from China.
Petrobras, which has seen its market value quadruple since 2004, is worth 41 percent less than Exxon Mobil Corp., the world's largest company at $498.6 billion.

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