For some time, we have looked at the trend of state-owned energy giants to increasingly join forces to expand internationally, a worrying sign for Western oil companies already besieged by the global stampede to find new reserves. As the Wall Street journal reported today, a prime example how state-backed national giants are competing more aggressively […]
Read more »An excellent article in today’s WSJ on Petrobras, one of the New Seven Sisters. I highly recommend a complete read, but of particular note was the following: “…Today, Petrobras boasts more crude reserves than Chevron Corp., lower costs of finding oil than Exxon Mobil Corp., and a listing on the New York Stock Exchange — […]
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