Petrobras Companies

Among the foreign companies that will be affected are Japanese Mitsui (NASDAQ:MITSY) and Mitsubishi, the American Koch, the Spanish FMC-Forrest, the Italian Ecofuel and Snamprogetti. In Venezuela there is an ambitious investment plan for the sector which involves an estimated amount of US $20 billion until 2019. For this investment plan are included the Brazilian Braskem (BVSP:BRKM3; NYSE:BAC) and the Iranian National Petrochemical Company. As I mentioned in a previous article, foreign companies feel something quiet to do business in Venezuela when their Governments are friends of Chavez Repsol (NYSE:REP) and an outdoor giant who puts Spain at the foot of Chavez. However companies from friendly nations have undergone change in mood of Chavez and have had to resign important business. Before the great risks involved in investing in Venezuela: how many dollars will be willing to risk these foreign companies? Meanwhile, Lula shows its confidence in the Venezuela of Chavez announced last Sunday the signature in mid-October for an agreement so the State Petroleos de Venezuela S.A.

(PDVSA) and Petrobras (BVSP:PETR3; NYSE:PBR), build a refinery in the Northeastern Brazilian State of Pernambuco. Before the constant fall of sales to the United States, Chavez continues with its policy of seeking new friends and in such a cross has just signed 8 energy agreements with African countries, among which the agreement signed with Sudan which the Minister of energy and petroleum, Rafael Ramirez stated: the Convention is our oil companies to work together in both countries (Venezuela and Sudan), but mainly there (Sudan) because this nation has a significant production. The base will be studied to work together and carry out new cooperation agreements. Despite the multiple agreements which Chavez continues signing, are not reflected in the further development of Venezuela but that on the contrary, a country with increasing narrowness of resources that makes it difficult to sustain compliance is observed for the signed partnership agreements, because the waste of funds that Chavez performs. This financial fragility of Venezuela not only casts doubt on the ability of the country comply with the signed agreements, but it increases the possibilities of implementing the Venezuelan economy to a deep crisis.

While PDVSA suffers from the inability of Chavez for managing oil resources in Venezuela, another oil company that recommended Paola to Global value subscribers, is them making win who followed these suggestions, 22% in little more than three months did nothing bad in lean times, no? We find again tomorrow, Horacio Pozzo investment opportunity to seize this crisis to buy. How did the subscribers of our newsletter of investment overall value, than already recovered its cost by investing in companies that we recommend. Do you want to know what? You can try entering here to find out and start investing in our recommended actions that carry 60% of suba. Soon leave the October!

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