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Brazil's Petrobras World's Best in Excellence Just Behind Shell |
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Written by Nielmar de Oliveira
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Thursday, 23 February 2006 |
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Brazilian oil company Petrobras ranked second in a world evaluation made by the Management & Excellence (M&E) agency. The agency analyzed activities of the 15 largest oil companies in the world. Anglo-Dutch Shell got the first place.
In the last evaluation, Petrobras ranked seventh. Both Petrobras and Shell had a result around 52.8% higher than the average obtained by the other companies. The government-owned Brazilian company issued a note in which it comments on the evaluation data. The note says that Petrobras scored 83.3% - the highest score - in Corporate Governance, an item for which legal requirements by regulatory agencies for the securities market are the strictest. In this item, government companies usually score lower," says the note adding, "The oil industry average score in corporate governance was 58.61%". Petrobras also ranked high in the "Transparency" evaluation: 82.44%, while industry's average was 54%. "This excellent performance is explained by the company's practice of keeping the market always informed about everything that happens in it, be it small or great," says the note. ABr
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