Petrobras’ performance lauded
Brazil’s growing economy has been given a further boost by the news one of its biggest firms is among the global top five in its field.
The website of Brazzil Magazine reports Petrobras, the government-controlled oil multinational, is now the second-biggest company in Latin America and among the globe’s top five energy sector leaders.
According to the publication, a Goldman Sachs report ranked the firm highly after looking at its corporate governance, profits and position in the industry, while AmericaEconomia rated the company after conducting a rundown of 500 top businesses.
Brazzil Magazine says AmericaEconomia reports Petrobras will "become the biggest company in sales in Latin America" if it maintains the average growth rate of the last decade.
If Petrobras continues its growth it could further strengthen the economy and the case for investing in Brazilian property.
In early 2008, the firm was also acknowledged by a Management & Excellence survey as the world’s most sustainable oil company.
Ranked first, scoring 92.25 per cent, the company passed sustainability criteria based on 387 international indicators.
