Tuesday, March 23, 2010

Petrobras (NYSE:PBR) Second to Exxon Mobil (NYSE:XOM)

Petrobras Second in Profits Only to Exxon Mobil in Americas

One consulting agency, Economatica, declared Petrobas (NYSE:PBR) was second only to Exxon Mobil (NYSE:XOM) in profits for the Americas in 2009.

Net profits for Petrobras in 2009 came to $16.6 billion according to Economatica.

Exxon Mobil still holds a solid lead over Petrobras, as they generated $19.28 billion in profits for 2009, about a 13.7 percent difference.

Still Petrobras has been closing the gap, as it's the smallest difference between the two companies since 1994.

Petrobras is the only company in the top 20 of the Americas from Brazil, with the rest based in the United States.

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