Read the following text and answer item.

PETROBRAS is well on the road to greatly increasing its market share of the South American oil business. The state-run oil giant is investing more than US$ 3 billion in a strategy to spread risk, its managers say, through bold foreign exploration.

In October 2002, PETROBRAS paid US$ 1 billion for 59% of Argentina’s second-largest oil producer, Perez Companc (PECOM), and expects to spend another US$ 2 billion over the next five years to beef up international production, mainly in Venezuela but also in Peru, Bolivia and Ecuador. Earlier, PETROBRAS swapped a billion dollar’s worth of assets with Spanish-Argentine energy giant Repsol-YPF for a share of Argentina’s retail gasoline and refining business.

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Access on Feb./2004 (with adaptations).

Based on the text above, judge the following item.

Read the following text and answer items 37 to 40 below. PETROBRAS operated in Brazil as a monopoly for close to half a century. However, after recent deregulation of the Brazilian oil sector and the consequent arrival of competitors, PETROBRAS is now facing important new challenges. PETROBRAS must continue to maximize its competitiveness and effectiveness through bidding on offshore exploration blocks that can potentially yield oil reserves. At the same time, though, PETROBRAS must continue to provide the necessary resources to the enforcement of its environmental commitment to Brazilian society through oil spill surveillance and prevention programs.

Internet: <http://www.rsi.ca>. Access on Feb./2004 (with adaptations).

It is correct to conclude from this passage that

PETROBRAS is well on the road to greatly increasing its market share of the South American oil business. The state-run oil giant is investing more than US$ 3 billion in a strategy to spread risk, its managers say, through bold foreign exploration.

In October 2002, PETROBRAS paid US$ 1 billion for 59% of Argentina’s second-largest oil producer, Perez Companc (PECOM), and expects to spend another US$ 2 billion over the next five years to beef up international production, mainly in Venezuela but also in Peru, Bolivia and Ecuador. Earlier, PETROBRAS swapped a billion dollar’s worth of assets with Spanish-Argentine energy giant Repsol-YPF for a share of Argentina’s retail gasoline and refining business.

Internet: <http://www.findarticles.com>.

Access on Feb./2004 (with adaptations).

Based on the text above, judge the following item.

Read the following text and answer item.

PETROBRAS operated in Brazil as a monopoly for close to half a century. However, after recent deregulation of the Brazilian oil sector and the consequent arrival of competitors, PETROBRAS is now facing important new challenges. PETROBRAS must continue to maximize its competitiveness and effectiveness through bidding on offshore exploration blocks that can potentially yield oil reserves. At the same time, though, PETROBRAS must continue to provide the necessary resources to the enforcement of its environmental commitment to Brazilian society through oil spill surveillance and prevention programs.

Internet: <http://www.rsi.ca>. Access on Feb./2004 (with adaptations).

It is correct to conclude from this passage that

Read the following text and answer item.

PETROBRAS is well on the road to greatly increasing its market share of the South American oil business. The state-run oil giant is investing more than US$ 3 billion in a strategy to spread risk, its managers say, through bold foreign exploration.

In October 2002, PETROBRAS paid US$ 1 billion for 59% of Argentina’s second-largest oil producer, Perez Companc (PECOM), and expects to spend another US$ 2 billion over the next five years to beef up international production, mainly in Venezuela but also in Peru, Bolivia and Ecuador. Earlier, PETROBRAS swapped a billion dollar’s worth of assets with Spanish-Argentine energy giant Repsol-YPF for a share of Argentina’s retail gasoline and refining business.

Internet: <http://www.findarticles.com>.

Access on Feb./2004 (with adaptations).

Based on the text above, judge the following item.

Read the following text and answer items 37 to 40 below. PETROBRAS operated in Brazil as a monopoly for close to half a century. However, after recent deregulation of the Brazilian oil sector and the consequent arrival of competitors, PETROBRAS is now facing important new challenges. PETROBRAS must continue to maximize its competitiveness and effectiveness through bidding on offshore exploration blocks that can potentially yield oil reserves. At the same time, though, PETROBRAS must continue to provide the necessary resources to the enforcement of its environmental commitment to Brazilian society through oil spill surveillance and prevention programs.

Internet: <http://www.rsi.ca>. Access on Feb./2004 (with adaptations).

It is correct to conclude from this passage that

Read the following text and answer items 37 to 40 below. PETROBRAS operated in Brazil as a monopoly for close to half a century. However, after recent deregulation of the Brazilian oil sector and the consequent arrival of competitors, PETROBRAS is now facing important new challenges. PETROBRAS must continue to maximize its competitiveness and effectiveness through bidding on offshore exploration blocks that can potentially yield oil reserves. At the same time, though, PETROBRAS must continue to provide the necessary resources to the enforcement of its environmental commitment to Brazilian society through oil spill surveillance and prevention programs.

Internet: <http://www.rsi.ca>. Access on Feb./2004 (with adaptations).

It is correct to conclude from this passage that

PETROBRAS has been operating as a monopoly for nearly fifty years.

PETROBRAS is well on the road to greatly increasing its market share of the South American oil business. The state-run oil giant is investing more than US$ 3 billion in a strategy to spread risk, its managers say, through bold foreign exploration.

In October 2002, PETROBRAS paid US$ 1 billion for 59% of Argentina’s second-largest oil producer, Perez Companc (PECOM), and expects to spend another US$ 2 billion over the next five years to beef up international production, mainly in Venezuela but also in Peru, Bolivia and Ecuador. Earlier, PETROBRAS swapped a billion dollar’s worth of assets with Spanish-Argentine energy giant Repsol-YPF for a share of Argentina’s retail gasoline and refining business.

Internet: <http://www.findarticles.com>.

Access on Feb./2004 (with adaptations).

Based on the text above, judge the following item.