Soros Builds on Petrobras Holdings in First Quarter [ But, but we were told Soros sold Petrobras! ]

Billionaire investment manager George Soros built on his position in Brazilian oil and gas company Petrobras in the first quarter of 2011 for his Soros Fund Management firm, according to the guru watchers over at Guru Focus.com on May 17. He now owns 1.1 million shares of Brazil’s state owned oil company.

Soros sold out of Petrobras in mid-2010 only to return to the market in the fourth quarter of 2010 with the purchase of roughly 588,000 shares. The stock has been a money loser for Soros since getting back into the market, according to his average share price calculated by Guru Focus. Petrobras closed May 17 at $34.27 per share, so Soros’s big purchases in one of Brazil’s top two most actively traded stocks was unaffected by his large purchase orders.

3/18/11
Obama Strengthens George Soros' Oil Interests In Brazil
FR POSTED by george76

Obama left his lush golf get-aways and NAACP basketball sprees to depart for a Brazilian vacation. ... Obama abandoned the victims of genocide in Libya to help America's oil opposition. Why? Out with Western oil, in with Russian and Brazilian oil. Is it just coincidence that George Soros sold his Western oil stock and bought stock in Russia and Brazilian oil companies, about three months ago ? ... Last March, Soros invested in airport screeners. How did he know to do that? Insider info! (Excerpt) Read more at apcheck.blogspot.com ...

"The U.S. Interior Department said on Thursday it gave final approval for Petrobras to use the first ever deepwater floating production storage facility in the Gulf of Mexico.

Now who is a BIG stockholder in Petrobras and will make a financial killing on this?

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6/19/09
Soros reports 73.5% increase in Petrobras stake
Marketwatch.com ^ | February 17, 2009 | Tony Cooke
FR Posted on Saturday, June 19, 2010 by wac3rd

Billionaire investor George Soros on Tuesday reported that during the fourth quarter he increased his already considerable stakes in Brazilian state-controlled oil company Petroleo Brasileiro S.A. /quotes/comstock/13*!pbr/quotes/nls/pbr (PBR 38.29, +0.05, +0.13%) and Potash Corp. of Saskatchewan Inc. /quotes/comstock/13*!pot/quotes/nls/pot (POT 99.36, -1.25, -1.24%).

Soros, through his Soros Fund Management LLC, reported holding 36.8 million American depositary receipts of the Brazilian oil company known as Petrobras as of Dec. 31 - a holding valued at about $900 million at the time. Soros held 21.2 million ADRs at Sept. 30, according to his disclosure filed with the SEC.

Soros also reported holding $434 million in Canadian Potash shares as of Dec. 31 - a total of about 5.9 million shares. He reported holding 3.3 million Potash shares as of Sept. 30. Petrobras and Potash were the two largest stakes reported by the Soros fund as of Dec. 30 (Excerpt) Read more at marketwatch.com ...

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FR ANALYSIS After the BP spill, Ohaha stupidly shut down US offshore drilling--33 rigs-- and put Americans out of work. But Ohaha is "lending" $2B to Brazil to drill even deeper than the calamitous Horizon platform, using the same rigs now in the Gulf.

Watta coincidence (/snix). George Soros, has a $900M stake in Petrobras (Brazilian Big Oil).

US taxpayers will never see that $2B "loan" again.

Ingtar posted: Lend is a misused word in these cases. It usually amounts to a grant, but they call it a loan to make it more palatable. Of course, the rigs freed up in the Gulf are now on the way to make Soros’ investment pan out.

[ But, but we were told Soros sold Petrobras! ]

FTA: Soros sold out of Petrobras in mid-2010 only to return to the market in the fourth quarter of 2010 with the purchase of roughly 588,000 shares. The stock has been a money loser for Soros since getting back into the market, according to his average share price calculated by Guru Focus. .....

Soros sold his entire Petrobras (NYSE:PBR [ADR]) stake in 2010 to finance his purchase of 4.9% of Mumbai stock exchange. According to SEC filings, he established a new position in PBR with the purchase of 588,500 shares in the quarter that ended on 12/31/2010, which is 0.29% of the $7.69 billion portfolio of Soros Fund Management LLC.

Petroleo Brasileiiro Sa Petrobras (PBR) shares have declined to close to the 52-week low of $33.04, which is 23.3% off the 52-week high of $41.57.

Petroleo Brasileiiro Sa Petrobras (PBR) has a market cap of $122.95 billion. PBR shares are traded at around $33.00 with a P/E ratio of 8.22 and P/S ratio of 1.01. The dividend yield of Petroleo Brasileiiro Sa Petrobras stocks is 0.46%. Petroleo Brasileiiro Sa Petrobras had an annual average earnings growth of 20.2% over the past 10 years.

” FR ANALYSIS After the BP spill, Ohaha stupidly shut down US offshore drilling—33 rigs— and put Americans out of work. But Ohaha is “lending” $2B to Brazil to drill even deeper than the calamitous Horizon platform, using the same rigs now in the Gulf.

Watta coincidence (/snix). George Soros, has a $900M stake in Petrobras (Brazilian Big Oil).

US taxpayers will never see that $2B “loan” again. “

Between this, and the sales of automatic weapons to Mexican drug dealers, the Republicans could have had Obama really on the ropes......or finished. I’m ill.

Watta coincidence (/snix). George Soros, has a $900M stake in Petrobras (Brazilian Big Oil).

Little correction. Soros has so far invested less than $40M in Petrobras (approx. 1.1M shares at avg $35.00 pps)

Petrobras doesn't have the expertise and is actually contracting for deep-sea drilling and processing with American companies which cannot drill in the Gulf because of Obama / EPA ban.

$2B in loans to Petrobras are definitely inconsistent with Obama's / Democrats' proposals for removing from the U.S. oil companies the R&D credit (for oil exploration) that any company can legally get under standard IRS rules. In other words, oil companies will have to be specifically exempted from R&D and amortization credit rules for this to take place.

But that's not "unexpected" from Obama and Democrats.

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