Petrobras Hires 80% of Deepwater Rigs, Inflates Rents

From Bloomberg:
Petroleo Brasileiro SA, Brazil's
state-controlled oil company, leased about 80 percent of the
world's deepest-drilling offshore rigs to explore prospects
including the Western Hemisphere's biggest discovery in decades.

Petrobras, as the Rio de Janeiro-based company is known, is
hiring rigs that can drill in at least 3,000 meters (9,800 feet)
of water, Chief Executive Officer Jose Sergio Gabrielli said in
an interview last week. The world has 21 such vessels, according
to Rigzone.com, which tracks the offshore drilling industry.

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