Brazil And Petrobras: Oil Potential Or Oil Dream?
By EconMattersBrazil, with 2.719 million b/d (barrels per day, as of 2010) oil production, is one of the larger non-OPEC oil sources, and ranked No. 9 in the world based on 2010 oil production data, according to the U.S Energy Dept.
To exploit the huge offshore oil discoveries in recent years, Petrobras (PBR) -- Brazil's state oil company--unveiled an ambitious investment plan last year--$225 billion for the years 2011 to 2015. In this world's largest corporate investment program, about 57% or $128 billion will be invested in upstream exploration and production aiming at developing its large 'pre-salt' discoveries in deep and ultra-deep water south of Rio de Janeiro... Continue reading FREE at Seeking Alpha
No comments:
Post a Comment