Petrobras is the Americas’ third biggest firm
Brazil’s state-owned oil firm has overtaken Microsoft as the third largest company in the Americas, a new report has said.
Petrobras was revealed as the third biggest business by market value in a report by Economatica, it has been reported.
People interested in buying property in Brazil could be interested to hear that the state’s oil firm is worth more than Bill Gates’ computer software giant, which bears testimony to the Latin American country’s economic boom.
The firm was worth $295.6 billion (£149.22 billion) compared to Microsoft’s $274 billion as of May 16th, when the consultancy company compiled its list of the region’s 50 most valuable firms, according to Brazzil Mag.
Exxon Mobil topped the list, valued at $489.64 billion, and Brazilian mining company Vale also made the top ten at ninth place valued at $196.49 billion.
Meanwhile, Petrobras revealed last week that its investment this year should total $54 billion.
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