This Once Promising Oilfield Is Now Looking Pretty Grim
For a couple of years now, energy companies, investors, and Brazilian officials have been waiting on what would come from the Brazilian pre-salt auction. Unfortunately, it didn't turn out the way many had anticipated. Of the 40 companies that were expected to file an intent to place bids, only 11 of them actually did. More importantly, some of the household names in Big Oil were absent from the list. For investors who were looking at Brazilian pre-salt fields as the next great investment opportunity, you may be disappointed.
So what does this mean for the future of Petrobras ? Tune in to the following video, where fool.com contributor Tyler Crowe explains why this is not a good sign and what could be one glimmering hope for the pre-salt fields.
Can investors still profit?
As disappointing as this news may be, the biggest determining factor for the pre-salt fields and almost every major oil project today is the price of oil. With prices hovering above $100 a barrel, there are some unique investment opportunities that you should watch for. We've put together a special report called "3 Stocks for $100 Oil" that highlights a trio of companies that are posed to profit in a big way from the current price environment. Let us help you discover the names of these three companies. Simply click here and we'll give you free access to this valuable report.
The article This Once Promising Oilfield Is Now Looking Pretty Grim originally appeared on Fool.com.Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. You can follow them both on Twitter: @TMFDuffy and @TylerCroweFool, respectively. The Motley Fool recommends Chevron, Petrobras, 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.