Petrobras Breathes a Sigh of Relief Over Big Tax Bill
Jul 13th 2013 1:07PM
Updated Jul 13th 2013 1:12PM
While there are some disadvantages to being a national oil company, there are also some pretty cushy perks as well. Thanks to its position in Brazil, Petrobras just got some big relief as a court ruling determined that it is not obligated to pay an outstanding tax bill of $3.45 billion. This should be a huge help as the company looks to make big gains in production in the upcoming years thanks to the pre-salt formation in offshore Brazil.
Despite all the big moves and bigger plans for the company, there are two questions that still linger for this Brazilian oil giant. Who will be its major partners in pre-salt formation drilling, and can it execute these major projects both on schedule and within budget. Watch the following video, in which Fool.com contributor Tyler Crowe looks at some of the recent moves that Petrobas has made and how it benefits as Brazil's national oil company.
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The article Petrobras Breathes a Sigh of Relief Over Big Tax Bill originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool. The Motley Fool recommends Petrobras, Statoil, and Total. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.