Tupi Oil Imperiled as Price Decline Undermines Lula Energy Plan

…In the wake of the discovery, there was euphoria in Brazil. Citizens literally danced in the streets of Rio de Janeiro at 2008

Petrobras shares fell 45.2 percent to 28.78 reais on March 30 from their peak in May 2008.

Deep-Water Leader

Rio-based Petrobras leads the world in deep-water oil drilling; it operates dozens of fields in Brazil, Africa and the Gulf of Mexico.