If any of the oil reserve reports coming out of Brazil can hold up to industry scrutiny, then Brazil is sure to become the "New Saudi Arabia" in the not to distant future. But a not to unfamiliar phenomenon took place as the Brazilian government began to expand it's control of Petrobras. Investors began to flee in droves, and the stock price is proving it.
So is this a buying opportunity or is Petrobras doomed to go the way of Chinese oil companies in the eyes of western investors.
Here is some great numbers from World Market Pulse....
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Petrobras: Gloomy Outlook or Buying Opportunity?
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