The recent discovery of potentially vast oilfields buried beneath a thick layer of salt off the coast of Brazil has become a focus of excitement among many of the world's big energy firms. Though the total size of reserves is not yet known, government officials estimate 80 billion to 100 billion barrels - enough to vault Brazil into the top ten of oil-producing countries.
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Regarding Petrobras written by Ricardo C. Amaral,
July 20, 2009
Ricardo: When my article about the renationalization of Petrobras was published on Brazzil magazine and at RGE Monitor – I also sent the information about that article to many Chinese government investment decision makers.
I also sent the information to all senators, (including my friend former president Jose Sarney) and to all dep**ado federais (congressmen) in Brazil. I also sent the information to a number of members of president Lula’s cabinet.
It was no accident the direct deal between Petrobras and the Chinese government. The Chinese did the smart thing, and I am sure they have been paying attention to these articles and the following discussions on the comments section.
*****
Brazzil Magazine – July 2008 “Why Brazilians Should Demand the Renationalization of Petrobras” Written by Ricardo C. Amaral
“Petrobras Gets $10 Billion China Loan, Sinopec Deal” By Iuri Dantas and Jeb Blount Bloomberg News – February 19, 2009
Feb. 19 (Bloomberg) – Petroleo Brasileiro SA, (Petrobras) Brazil’s state-controlled oil company, agreed to a $10 billion loan from the China Development Bank, and to supply oil to the Asian nation.
“There are two important commercial agreements and a finance accord that demonstrates new possibilities for raising money,” Chief Executive Officer Jose Sergio Gabrielli told reporters after a signing ceremony in Brasilia today.
Petrobras, as the Rio de Janeiro-based firm is known, also agreed to sell as much as 100,000 barrels of oil this year to China Petroleum & Chemical Corp.’s Sinopec unit, Gabrielli said.
The loan will be used for general corporate purposes and to help Petrobras pay for a $174.4 billion, five-year investment plan, Gabrielli said, without giving details of the loan’s cost. The final terms of the loan will be worked out between now and May, when Brazilian President Luiz Inacio Lula da Silva travels to China on a state visit, a spokeswoman for Gabrielli said. The spokeswoman asked not to be named, citing company rules.
Petrobras has been talking with China about the loan since last year. The company has been seeking alternatives to international bank lending and bonds to finance its spending plan in the face of an international credit crunch. .
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Brazil and the China Connection. written by Ricardo C. Amaral,
July 20, 2009
Ricardo: I also sent the information about this article to all government people in Brazil and in China that I mentioned on my above posting.
These articles are having a bigger impact that most people realized regarding the relationship between the governments of Brazil and China.
You can bet on that.
*****
Brazzil Magazine – October 2007 "The Smartest Thing China Could Do Right Now: Invest US$ 200 Billion in Brazil" - Written by Ricardo C. Amaral
…The final conclusion is: It's imperative that China move forward in an aggressive fashion and implement with Brazil the plan described in this four-part series of articles. And China should look at it as a matter of national security and future survival.
Here is the source of the advice you are getting from... written by Ricardo C. Amaral,
July 20, 2009
Here is the source of the advice you are getting from the organization that wrote the above article.
There is one thing the readers of Brazzil magazine can be sure of: is that the people involved with the organization that wrote the above article doesn’t have the best interest of Brazil and the Brazilian people in mind on their lobbying and business efforts.
You don’t need o be a rocket scientist to figure that out, all you need to do is check the biography of the senior people on the Advisory Panel of this company who are making the decisions for this organization such as:
1) Lord (John) Browne: managing director at Riverstone, the private equity firm.
I just wrote last week on Elite Trader Forum what I think about private equity firms as follows:
There is a group of investors that I admire – the venture capitalists. They give the seed money to build the companies of tomorrow. These guys add value to the US economy since these companies eventually grow and create the new jobs of the future.
A greedy little capitalist, a bottom feeder, a parasite are these guys who work for companies such as Goldman Sacks, some hedge funds, and most private equity firms – and most of these guys are worthless, since they buy healthy companies strip them of any value, raid their pension plans, destroy the lives of thousands of people just to make a quick buck, and after they are done stripping these companies they leave behind companies full of debt, thousands of unemployed people, and they spin the carcass of a very sick company to the suckers who invest on these companies. Or they create garbage that they repackage as investment vehicles to sell to unsuspecting investors in the US and around the world.
I have no use for this group of parasites, and as far as I am concerned they are just a group of completely worthless people. They create wealth for a small group of people by destroying the foundations of many sound companies, and the economy in general.
2) Bill Emmott: Among his current positions, Bill Emmott is a member of the executive committee of “The Trilateral Commission.”
The Trilateral Commission is a group of hot shots from Europe, North America, and Japan with ambitions of controlling the rest of the world. Most of their members are from Europe, North America, and Japan, and other places such as the Middles East, Africa, South America, and most of Asia is considered second-class areas to be manipulated at will by the economic powers of yesterday.
Being a member of “The Trilateral Commission” is not a credential that would open many doors in South America. You can read about that group at:
The U. S. Geological Service issued a report in April ('0 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota ; western South Dakota ; and extreme eastern Montana .... check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels.. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.
'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.
'This sizable find is now the highest-producing onshore oil field found in the past 56 years.' reports, The Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves.... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
That's enough crude to fully fuel the American economy for 41 years straight.
2. And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!
U. S. Oil Discovery- Largest Reserve in the World! Stansberry Report Online - 4/20/2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling?
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
- 8-times as much oil as Saudi Arabia - 18-times as much oil as Iraq - 21-times as much oil as Kuwait - 22-times as much oil as Iran - 500-times as much oil as Yemen - and it's all right here in the Western United States .
HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy....WHY?
James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.
Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists? Got your attention/ire up yet? Hope so! Now, while you're thinking about it .... and hopefully P.O'd, do this:
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O futuro do Brasil written by Fsinatra.me,
July 20, 2009
I agree with must of your article,Brasil need to keep the profits from this blessing for it,s people! What about good schools and hospitals for all it's in need people! The tupi can fix some of brasil Social problems!
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... written by sage,
July 20, 2009
i agree 100% w/ Ricardo & FSinatra. juliet hepker & the folks at critical resource along w/ it's sponsers & affiliates are part of the global anglo-zionist financial mafia - white collar thugs & gangsters.
brazil w/b very successful adopting the norway model. also, aside from statoil, no other large oil major has greater deep sea drilling tech. skills as possessed by petrobras. so aside from capital, there is not much additional value add they can contribute.
the bakkan formation like the canadian tar sands is 1 big hype. the oil extraction is environmentally degrading & extremely energy intensive requiring alot of water, which that part of the us has an extreme shortage.
finally, lord john browne is the gay scandal tainted x-ceo of bp. perhaps ch.c may be interested!
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no other large oil major has greater deep sea drilling tech. skills as possessed by petrobras. written by Forrest Allen Brown,
July 20, 2009
Where did you come up with that !!!!!!!!!
there has been deeper work done in the north sea before brasil had a boat in the water .
2/3 of all oil taken from brasil is from forgin owned rigs leased to your grate brasilian oil company right now you have 2 rigs off line for maintence so the bid barrel numbers are not coming from brasil but in there holdings over seas
But brasil does need to turn its oil into education , health care, roads better hwys bridges , dredg out its sea ports .
Pass a law like the US has no US oil can be soled on the forgin market that could work 2 ways
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government officials estimate 80 billion to 100 billion barrels ! written by ch.c.,
July 21, 2009
So what ? 1) many countries with a much smaller population have ALREADY far more than that 80-100 BILLION OF.... proven oil & gas reserves...but are still POORS ! Just one case in point within many others : your cousin....VENEZUELA...WITH ABOUT 175 BILLION barrels of proven reserves ! Better yet their oil is either in their land or relatively shallow if offshore ! Meaning a much lower drilling and pumping costs...compared to most of the potentially big brazilian reserves !
2) and as to the idiot who wrote "no other large oil major has greater deep sea drilling tech. skills as possessed by petrobras" !!!!!
Then why is Petrobras BUYING so many deep drilling platforms...in many countries ? Including South Korea and believe it or not... Singapore ???? Due to the..... deep sea drilling tech. skills as possessed by petrobras.....as the idiot who wrote it stated ?
And are the majors oil companies involved in the Tupi field...using Petrobras advanced skills and superior technologies ?
Ohhhh...a little detail...that the idiot cant know : Early in 2008, Petrobras ordered a US$ 1,2 billion platform to a company in Singapore ! Welll...this company is a SWISS COMPANY !!!!!! And the information was publiched...IN THIS SITE !
Last but not least : - ALL NON OPEC oil producing nations, be it Brazil, Russia and also many countries that are Russia neighbours, but also including many OPEC members are spending HUNDREDS AND HUNDREDS of billion US$ to increase their future production....and NOT TO REDUCE IT....to my knowledge !
Wellll...in a few years...be it Brazil or other countries...will queue and beg that the importing nations....ARE KIND ENOUGH TO BUY THEIR OIL !!!!! And guess at what prices ? Higher..or lower than today ? And who will feel the biggest pinch ? the higher costs or lower costs producers !
And despite what Petrobras says that their Tupi field(sss) could break even at US$ 35.- or so (now they already state US$ 40.- funnily) my case in point is that this cost is...BEFORE THE GOVERNMENT TAXES !
Therefore from what prices....will the Brazil government cash their taxes...to eventually spread that money to infrastructures, education, health, poverty reduction...and corruptions ?
A final but important "detail" : When one sees the price of oil at let say US$ 65.-, it doesnt mean that it is $ 65.- FOB the exporting port ! It means FOB Cushing port, in the USA !
Just think about it ! The Brazilian Government wont make that much money with their goverment taxes on the TUPI fields ! This is brainwashing stories you are reading from crooks...actually governing your country ! But dont worry....THEY WILL MAKE MONEY FOR THEMSELVES ! Truckloads of money ! Guaranteed ! Even the filthy Dynasties, including the AMARAL Dynasty !
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IS this the new face of Petrobrass written by Forrest Allen Brown,
July 21, 2009
Venezuela's state oil company has yet to initiate a valuation process for the 74 foreign and local oil services companies the government has nationalized since May, local media reported Tuesday.
The delay by Petroleos de Venezuela SA, or PdVSA, in putting a price tag on the companies suggests those firms will have to continue to exercise plenty of patience as they await some type of compensation.
The total value of all the companies could be in the ballpark of $3 billion, said El Universal newspaper, citing sources linked to the process. But observers say the final total may be much less as PdVSA could take into account labor and environmental liabilities, and other factors.
PdVSA last month set up committees aimed at evaluating the companies, the paper said, but it's unclear what else has been done.
Officials at PdVSA were not immediately available for comment.
The nationalization of oil services companies, which provide services to the petroleum exploration and production industry but do not typically produce oil themselves, is the latest step in President Hugo Chavez' move toward socialism. It follows his 2007 decision to nationalize multi-billion dollar oil production projects in the crude-rich Orinoco region that were once operated by a handful of the world's largest private sector oil companies.
PdVSA chief Rafael Ramirez last month said that sometime around the middle part of the year all the aspects pertaining to the compensation processes would be set, the newspaper reported.
Among the foreign companies impacted by the takeovers are natural gas distributor Williams Cos. of Tulsa and Exterran Holdings Inc., a Houston-based company. They owned and controlled the PIGAP II gas compression plant.
Others affected include the John Wood Group; Gulmar Offshore Middle East, a United Arab Emirates-based contractor; and Tidewater Inc., a U.S. operator of ships and barges on Lake Maracaibo.
Ramirez said in May the companies affected have lost 632 pieces of equipment, including boats, barges, cranes, dock equipment and other oil production technology.
Making matters worse for the companies whose assets were seized that were seized, the nationalization law allows Chavez to pay companies using government debt instruments, an option Chavez has said he may favor.
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Venezuela's state oil company has yet to initiate a valuation process....... written by ch.c.,
July 21, 2009
And it is behind payments for billions dollars on works already done to tens of Non Venezuelan companies, including for companies that were/are not nationalized...yet !
Furthermore, a year or so ago, Venezuela lost a 12 billion dollars lawsuit won by Exxon...that is still UNPAID...OF COURSE!
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Oily stuff in Alberta written by jon,
July 22, 2009
Sage,
The Brazilian discoveries are complicated..ultra deep with unstable salt formations and temperatures so hot that drills can melt....and how about potential for oil spills!!!
The Canadian tar sands are a walk in the park when compared to that and technology is improving its environmental impact
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jon written by Forrest Allen Brown,
July 22, 2009
Quite
Let them crack one of thoes salt domes in the dephts they are talking about rio or could just luck out and get santos and SP and all the rich people on Ilih bella
but also remember the crude from brasil iv heavy good for china and india for plactics not much goog for fuel oil . as cadian oil sand
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and people want brasil to go with this pair written by Forrest Allen Brown,
July 22, 2009
Bolivia's state-owned oil giant YPFB announced on Tuesday it has completed nationalization of the country's oil and gas sector.
YPBF, abbreviation for Yacimientos Petroliferos Fiscales Bolivianos in Spanish, acquired a natural gas supplier in Cochabamba, a step concluding its nationalization efforts in the country's hydrocarbon industry.
"At this moment facilities like the oil and gas pipelines, including those under construction, are completely the property of the Bolivian state," YPFB interim president Carlos Villegas said.
"The state is now the owner of domestic hydrocarbon resources under and above the ground," Villegas said.
The state has also taken full control of the hydrocarbon storage capacity by nationalizing the Guillermo Elder Bell Refinery in Santa Cruz and the Gualberto Villarroel Refinery in Cochabamba.
"The nationalization process has allowed YPFB to regain control of the domestic oil and gas sector," Villegas said. He said the company's management of this sector will contribute to state revenues and the welfare of the Bolivian people.
YPFB was created in 1936 as a state owned and run gasoline company. It underwent partial privatization under the presidency of Gonzalo Sanchez de Lozada in the 1990s.
The Bolivian government also announced a plan on Tuesday to invest US $5 billion over the next five years in oil and gas explorations, operations and distribution.
Bolivia has the second largest reserves of natural gas in Latin America after Venezuela.
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OKAY written by Forrest Allen Brown,
July 25, 2009
advertisementPetrobras' Subsalt Role No Worry for OGX by Daniel McCleary|Dow Jones Newswires|Friday, July 24, 2009
Digg It Stumble it! Newsvine Del.icio.us Technorati Reddit Facebook RIO DE JANEIRO (Dow Jones Newswires), Jul. 24, 2009
The possibility of state-run oil giant Petrobras being appointed the only approved operator in Brazil's subsalt oil fields does not worry Brazilian oil and gas company OGX, the local Estado news agency reported Friday.
Brazil's government is currently considering proposals for a new regulatory framework to govern the massive offshore oil fields.
The possibility of Petrobras serving as the only operator in the subsalt area is one of the proposals being considering for the new framework, which is expected to be sent to Congress soon.
If approved, such a proposal would prevent OGX and other independent oil companies from operating in the highly lucrative subsalt area, which has estimated reserves of between five billion and eight billion barrels of oil.
"If the government makes rules, we will simply obey them," OGX's owner Eike Batista told Estado without showing any concern.
"It's not for me to decide. I'm not a legislator, I just follow the rules," he added.
Batista is Brazil's richest man and owns mining and port assets.
In May, OGX reported it had cash-in-hand of BRL7.8 billion ($4.11 billion) to develop its oil and gas projects.
OGX currently operates nine exploratory blocs in the Campos and Santos Basins, located off the coast of southeast Brazil.
Overall, OGX has the exploration rights in 22 high-potential Brazilian offshore blocs for a four-year exploratory campaign.
OGX has said it expects to start producing oil by 2011.
Copyright (c) 2009 Dow Jones & Company, Inc.
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forrest.... written by asp,
July 26, 2009
your info about the usa oil reserves is too good to be true
snopes sais that it really only means the usa can get 3 billion barrols out of the bakkon oil reseves and the usa uses 3 billion a year so it would not solve the problem
the colorado utah reserves of 8 trillion can only be tapped in 20 years or so....this from snopes
all interesting news , but, obviously not something that is going to solve the problem for now
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asp written by Forrest Allen Brown,
July 28, 2009
go to rigzone.com
it all can be pulled out before brasil can get the pre salt fields to pay off for them .
The recent discovery of potentially vast oilfields buried beneath a thick layer of salt off the coast of Brazil has become a focus of excitement among many of the world's big energy firms. Though the total size of reserves is not yet known, government officials estimate 80 billion to 100 billion barrels - enough to vault Brazil into the top ten of oil-producing countries. 
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that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota ; western South Dakota ; and extreme eastern Montana .... check THIS out: 
I also sent the information to all senators, (including my friend former president Jose Sarney) and to all dep**ado federais (congressmen) in Brazil. I also sent the information to a number of members of president Lula’s cabinet.
It was no accident the direct deal between Petrobras and the Chinese government. The Chinese did the smart thing, and I am sure they have been paying attention to these articles and the following discussions on the comments section.
*****
Brazzil Magazine – July 2008
“Why Brazilians Should Demand the Renationalization of Petrobras”
Written by Ricardo C. Amaral
http://www.brazzil.com/article...obras.html
Hits: 7457
Comments: 346
As of July 20, 2009
*****
RGE Monitor – July 2008
“Why Brazilians Should Demand the Renationalization of Petrobras”
Written by Ricardo C. Amaral
http://www.rgemonitor.com/lata...tion_of_p
etrobras
*****
“Petrobras Gets $10 Billion China Loan, Sinopec Deal”
By Iuri Dantas and Jeb Blount
Bloomberg News – February 19, 2009
Feb. 19 (Bloomberg) – Petroleo Brasileiro SA, (Petrobras) Brazil’s state-controlled oil company, agreed to a $10 billion loan from the China Development Bank, and to supply oil to the Asian nation.
“There are two important commercial agreements and a finance accord that demonstrates new possibilities for raising money,” Chief Executive Officer Jose Sergio Gabrielli told reporters after a signing ceremony in Brasilia today.
Petrobras, as the Rio de Janeiro-based firm is known, also agreed to sell as much as 100,000 barrels of oil this year to China Petroleum & Chemical Corp.’s Sinopec unit, Gabrielli said.
The loan will be used for general corporate purposes and to help Petrobras pay for a $174.4 billion, five-year investment plan, Gabrielli said, without giving details of the loan’s cost. The final terms of the loan will be worked out between now and May, when Brazilian President Luiz Inacio Lula da Silva travels to China on a state visit, a spokeswoman for Gabrielli said. The spokeswoman asked not to be named, citing company rules.
Petrobras has been talking with China about the loan since last year. The company has been seeking alternatives to international bank lending and bonds to finance its spending plan in the face of an international credit crunch.
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