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Friday, 18 April 2014

Petrobras' bargain barrels pricier than they look

Crude calculation

The boss of the $210 bln Brazilian energy giant reckons its shares are the cheapest way to bet on oil. With production growth expected to leave multinational rivals in the dust, Petrobras shares might seem low-priced. But Brasilia’s grip on the firm justifies a big discount.



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