(24 Sep 2010) SHOTLIST
Sao Paulo, Brazil - 24 September 2010
1. Wide of Bovespa (Brazilian Stock Exchange) floor
2. SOUNDBITE: (Portuguese) Jose Sergio Gabrielli, President of Petrobras:
"This morning, here at the Sao Paulo Stock Exchange, we witness the largest public stock offering in the capital markets. It is with intense satisfaction that I attend this ceremony that will initiate this process, that I am sure will go down in the history of Brazil and of the world."
Rio de Janeiro, Brazil - 22 September 2010
3. Wide of Petrobras drilling equipment
4. Mid of Petrobras ship
Sao Paulo, Brazil - 24 September 2010
5. SOUNDBITE (Portuguese) Luiz Inacio Lula da Silva, Brazilian President:
"It's one of the safeguards created by the government to avoid that this wealth gets lost in a labyrinth of waste and misguided interests. Its destiny is sacred. We are talking about developing the competitiveness of the economic system, to guarantee a new cycle of development, capable of eradicating poverty once and for all."
Rio de Janeiro, Brazil - 22 September 2010
6. Mid of Petrobras installation
7. Close up of Petrobras name on ship
Sao Paulo, Brazil - 24 September 2010
8. SOUNDBITE (Portuguese) Guido Mantega, Brazilian Finance Minister:
"Petrobras today is one of the main agents of development in Brazil. With this amount of investment in 2010, the investments of Petrobras should reach around 88 (b) billion reais (51(b) billion US dollars). Petrobras has a great impact on the Brazilian economy. A sizeable part of these resources go towards stimulating the domestic industry."
9. Pull out of government figures ringing the bell to signal start of trading
Rio de Janeiro, Brazil - 22 September 2010
10. Close up of Brazilian flag
11. Pan from crane to rig
12. Mid of workers on rig
13. Mid of worker welding
14. Pan of Petrobras installation and ship
STORYLINE
The exploration and production of Brazil's massive offshore oil reserves was the driving force behind the world's biggest-ever share offering.
Petroleo Brasileiro SA, or Petrobras, the South American nation's state-run energy company, raised 70 (b) billion US dollars on Thursday through the sale of more than 4 (b) billion common and preferred shares in Brazil and the United States.
Investors saw an opportunity to invest in one of the world's fastest-growing regions for energy production.
The money will fund Petrobras' ambitious 224 (b) billion US dollar, five-year plan to develop offshore fields that Petrobras discovered in the last three years that hold more than 50 (b) billion barrels of recoverable oil.
"This morning, here at the Sao Paulo Stock Exchange, we witness the largest public stock offering in the capital markets. It is with intense satisfaction that I attend this ceremony that will initiate this process, that I am sure will go down in the history of Brazil and of the world," said Jose Sergio Gabrielli, President of Petrobras.
If successful, Petrobras will vault itself and its country into the top tiers of oil and gas producers around the globe.
Yet some analysts are concerned that the cost, and an increased role for the Brazilian government, could dampen eventual returns for shareholders.
Petrobras forecasts that by 2014 it will produce the equivalent of 3.9 (b) billion barrels of oil per day when natural gas output is included.
That's equal to what Exxon Mobil Corporation, the world's largest publicly traded oil and gas company, produces currently.
According to the US Energy Department, Brazil is the number 12 oil producer in the world.
This assumes production in those countries stays relatively flat.
Find out more about AP Archive: [ Ссылка ]
Twitter: [ Ссылка ]
Facebook: [ Ссылка ]
Instagram: [ Ссылка ]
You can license this story through AP Archive: [ Ссылка ]
