Shares of leading Brazilian National Oil Company (NOC) Petroleo Brasileiro SA aka Petrobras (NYSE: PBR) lost R$30 (~US$5.6) billion in market value on Wednesday after the country’s lower house of Congress voted late on Tuesday to make it easier for politicians to take roles at state-run firms. The preferred shares of the oil and gas giant dropped 7.
9% on Tuesday’s session, while the common shares fared even worse after losing 9.8% on the day. The company has now lost a staggering $41 billion since October 21 with the selloff…Petrobras Sheds $41 Billion In Market Value In 2 Months
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