In Brazil Oil Production Goes Up 5% While Exxon Finds Oil Offshore

Petrobras from Brazil Brazil's Petrobras, the government-controlled oil and gas multinational produced an average of 2.4 million barrels per day of crude and natural gas at its operations inside and outside Brazil in 2008, an increase of 4.3%, or roughly 100,000 barrels of oil equivalent per day, compared to 2007.

In a statement sent to financial markets, Petrobras said 1.98 million bpd of the total was petroleum and condensates and that natural gas accounted for another 421,000 boe per day.

Petrobras average hydrocarbon output in December inside and outside Brazil was 2.44 million boe per day, exceeding November's production by 33,000 boe. Average domestic production of crude and gas was 2.18 million boe per day in 2008, up 5.4% with respect to 2007.

Of the total consolidated production, an average of 1.98 million bpd corresponded to crude, of which 123,000 bpd was taken from foreign fields, where Petrobras also extracted 17 million cubic meters (600 million cubic feet) of natural gas per day.

Of the nine foreign countries where Petrobras has production activities, the company reported its largest hydrocarbons output in Argentina, with an average total of 100,037 boe per day in 2008. Next came Bolivia with 54,500 boe per day, followed by Peru with 16,123 boe, Colombia with 15,500 boe and Ecuador with 11,357 boe.

Petrobras international oil production fell in 2008 by 2% compared with the 126,000 bpd pumped in 2007, while natural gas output was down 8.2% and total hydrocarbons production in barrels of oil equivalent declined by 4.9%.

The Brazilian corporation said the international variation was due to a drop in output at mature fields, the temporary suspension of production at Argentina's Austral Basin, the rescheduling of the drilling campaign in Venezuela, the hurricane season in the United States and maintenance work at the Guando Field in Colombia.

Exxon

Exxon Mobil Corp., Hess Corp. and Petrobras found evidence of oil at an offshore block in Brazil's Santos Basin in an area close to the largest oil discovery in three decades in the American continent.

The discovery in the so-called "pre-salt cluster" was in water 7,294 feet deep and in a well expected to have a final depth of 16,414 feet, announced Brazil's National Petroleum Agency. The companies haven't determined if the find can be developed commercially.

The so-called Azulรฃo-1 well in the BM-S-22 block operated by Exxon Mobil is adjacent to the Carioca field, where Petrobras, the Brazilian state-controlled oil company, has found oil. It is also about 25 miles south of Tupi, a field that Petrobras says holds as much as 8 billion barrels of oil, making it the biggest discovery in the Americas since 1976.

"The drilling of this well will continue until the targeted depth is reached. We are keeping with plans to drill another well after that," Exxon Exploraรงรฃo Santos Brasileira, the Exxon unit, said in a statement.

The so-called subsalt wells extend over a distance of 800 kilometers along the southern Brazilian coast in ultra-deep waters.

Mercopress

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  • Show Comments (16)

  • Double-Dot

    [quote]OK, IM OUT OF HERE NOW[/quote]

    Good riddance. Stick to your promise. ๐Ÿ˜‰

  • The cure for Ch C

    Just one more thing
    I read some previous threads here… and It seems that this Double-dot is the one who has been using my name and other people’s names too…

    I also recommend people to stop writing to him as it’s clear he is not a serious poster here…

    OK, IM OUT OF HERE NOW

  • The cure for Ch C

    someone is posting using everyone elses names
    Any further comments with this name should be ignored. Also have seen some with the name of CH C that I’m sure aren’t his…about his ex-Brazilian boyfriend who dumped him.

    Someones having a good bunch of fun messing with us ๐Ÿ˜‰

  • Joรƒฦ’ร‚ยฃo da Silva

    Forrest
    Off Topic under discussion:

    I read that Fidel is still alive and it was a false alarm as the following picture is the proof.

    [img]http://www.estadao.com.br/imagens/l138/fidel(5).jpg[/img]

    BUT…BUT…. Jan 28th is the D-Day. ๐Ÿ˜€

  • ch.c.

    Roubini is someone you would do well to know. He is projecting another 20% fall in equities, globally.
    I “know” (read) him for years ! I know what he says ! Glad that you finally look at what some smart people say.
    But dont also take their predictions for granted. At times HE is right, at times wrong !
    He has a good site. Part is for subscribers only but part is free. Even the free part is interesting to read.
    He even has free reports on Brazil !

    Gold ? I will short more shortly ! my first short was at just slightly over 900.- !
    small position anyway. Will short it on a scale up basis up to 1500.- if necessary !
    Gold is up not because of inflation as you said months ago, but due to BANKS CRISIS !

    Roubini projects 3,6 trillion of banks losses…NOW ! Ouch !
    Hopefully for all of us, investors or simple citizens, he will be wrong ! smiles
    If right, gold will go higher than 1500 no doubt !
    Time will tell.

    ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰

  • Sylon

    Hey hey some figures here… ๐Ÿ™‚
    Hmmm some figures here… my friend here is really doing his research…. how good is to be retired and have so much time…

    You moron… When it comes to racism and violence .. I know you know any country has it… a lot in Brazil sure…..

    However, racism is not in any country in the world supported by law and practised in mass scale like it happens in your sweet Switzerland:

    MASS SCALE RACISM SUPPORTED BY SWISS LAW:

    An official report into the process of naturalisation in Switzerland says the current system is discriminatory and in many respects racist.
    http://news.bbc.co.uk/2/hi/europe/6992670.stm

  • ch.c.

    Furthermore on Swiss racism
    why dont you read
    Countries with the Largest Foreign Populations
    http://www.aneki.com/foreign_population.html

    sorry for you junkie

    And on Brazil, your preferred country, why dont you read

    http://en.wikipedia.org/wiki/Human_rights_in_Brazil
    http://www.ifex.org/en/content/view/full/131/
    http://www.hrw.org/americas/brazil
    http://www.aneki.com/dangerous_cities.html

    and last but not least, on Switzerland Key Business Indicators, outside of chocolate and watches as you said, of course

    “Switzerland Continues to Rank High in Key Business Indicators

    New York, October 14 ร€ยขโ‚ฌโ€œ Switzerland, with a population of approximately 7.5 million, continues to achieve high rankings in business indicators supporting foreign direct investment decisions, reports Mario Brossi, North American senior representative for Switzerland Trade and Investment Promotion.

    Among the most recent is the 2008-2009 Global Competitiveness Report published by the World Economic Forum (WEF), which again ranked the alpine nation 2nd after the United States. ร€ยขโ‚ฌล“This survey polled more than 12,000 business leaders in a record 134 global economies and is designed to capture a broad range of factors affecting an economyร€ยขโ‚ฌโ„ขs business climate,ร€ยขโ‚ฌร‚ย Mr. Brossi said. In another WEF Study, the Global IT Report, the country ranks 3rd in technology readiness among 127 countries.

    Switzerland ranks 2nd in Europe in the 2008 Index of Economic Freedom published by The Heritage Foundation/The Wall Street Journal and 3rd in Europe in the inaugural WEF Financial Development Index. ร€ยขโ‚ฌล“The FDI, a comprehensive analysis of financial systems and capital markets in 52 countries, focuses on key drivers of financial system development and economic growth in developing and developed countries,ร€ยขโ‚ฌร‚ย Mr. Brossi explained.

    The country jumped two places to fourth after the U.S., Singapore and Hong Kong in the 2008 World Competitiveness Yearbook (WCY) published by the Institute of Management Development. ร€ยขโ‚ฌล“The WCY is one of most comprehensive annual reports on the competitiveness of nations, ranking and analyzing how a nationร€ยขโ‚ฌโ„ขs environment creates and sustains the competitiveness of enterprises,ร€ยขโ‚ฌร‚ย Mr. Brossi stated.

    In terms of innovation, the OECD (Organization for Economic Cooperation and Development) names Switzerland as the European country that has filed the most patents in the three leading patent offices around the globe ร€ยขโ‚ฌโ€œ the U.S., the European Union and Japan. ร€ยขโ‚ฌล“In this report the Swiss scoreboard was 106.7 patents filed per million inhabitants,ร€ยขโ‚ฌร‚ย Mr. Brossi said. Swiss industry has 6.1 full time researchers per 1,000 employees.

    Transparency Internationalร€ยขโ‚ฌโ„ขs 2008 Corruption Perception Index ranks 180 countries by their perceived levels of corruption, as determined by expert assessments and opinion surveys. The report shows Switzerland and Finland scoring 9.0 out of a possible 10 while Denmark and Sweden tied at 9.3, the highest scores reported.

    In a survey of European tax systems compiled by KPMG International in which major business organizations across Europe assessed the attractiveness of their domestic tax systems, Switzerland ranks third behind Cyprus and Ireland. The survey is based on particular aspects of the tax system, including consistency, stability over time, volume of legislation, the tax rate, and relationships with tax authorities.

    ร€ยขโ‚ฌล“Switzerland also scores high in softer but no less important rankings when it comes to selecting an FDI destination,ร€ยขโ‚ฌร‚ย Mr. Brossi said. ร€ยขโ‚ฌล“For example, it tops the global list of countries ranked by environmental performance, according to the 2008 Environmental Performance Index (EPI) produced by a team of environmental experts at Yale University and Columbia University.ร€ยขโ‚ฌล“ The 2008 EPI, released at the World Economic Forum in Davos, ranks 149 countries on 25 indicators tracked across six established policy categories.

    Similarly, for the 7th consecutive year Zurich ranks first in the Mercer Human Resources 2008 Quality of Living Survey of 215 cities. Geneva ties with Vienna for 2nd place; Berne the capital ranks No. 9. New York City is the index at 100 and ranked 49th.

    A final lifestyle example is the Global Travel & Tourism Competitiveness Report 2008 ranking countries on their international travel and tourism standings. The 2008 report by the World Economic Forum in conjunction with global management consulting firm Booz Allen Hamilton places Switzerland first, followed by Austria, Germany, Australia, Spain and Great Britain.”

    Hey hey junkie ! Wake up ! Stand up ! Keep the distance ! You have a long way to go before being only half as good !
    ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ

  • Sylon

    Strange comments from Ch.c
    It’s so strange… a country (midget Switzerland) that our Swiss friend here Ch.c says is bigger than Brazil in all aspects of business (including exports and companies) hasn’t managed to have a bigger economy as a whole than Brazil…

    I think something is missing in this picture.. your numbers are not adding up..

    You said you’ve trading since 1972… don’t you think it’s time for you to give it a rest and retire in a peaceful location in a tropical country like the rest of the swiss people do? because you’re talking shit.. Switzerland bigger than Brazil in everything… Brazil 10th .. Switzerland 21st in economy… so much shit…

  • Sylon

    I meant export
    I meant if migdet Switzerland exports more than Brazil

  • Sylon

    Export more than Brazil then
    So if midget Switzerland imports more than Brazil, thats a sign that apart from racists (according to BBC NEWS just google it) you are a bunch of morons… because even with more exports than Brazil… Brazil still ranks the 10th biggest economy in the world.. while midget Switzerland is 21st

    and here’s the proof you swiss cant even understand yourselves, let alone business… despite of bigger exports (according to you) Brazil has a bigger economy:
    http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

    Idiot grandpa…

  • Sylon

    I’m impressed
    Im impressed Nestle owns 25% of L’Oreal… a French company built by the French… which sells some of its share to gain more market space… and Nestle just happens to buy it.. wow thats a big achievement you moron..

    Any other company with money could have done that… even Sony if they wanted to…buying something already built is not the same as building it… it takes much more you idiot… Don’t take credits for other countries’ achievements… Typical racist swiss… Switzerland is just chocolate and watches… and no one cares about Switzerland in Europe.. I know, I live in Europe and Im European you loser

  • ch.c.

    And to the Ypsylon Idiot
    Switzerland is chocolate (belgian chocolate is better) and watches… apart from those, Switzerland has nothing to share with the world !

    Hopefully you you have read the previous comments !

    On Switzerland, we have so nothing to share that our 7,8 millions population EXPORTS MORE THAN THE 196 MILLIONS OF SUPER BRAZILIANS. AND WE ALSO IMPORT MORE THAN…BRAZIL !
    Our exports per capita is ONLY 25 times the Brazilian per capita exports !

    Once more….do you really know what you are talking about….YPSYLON DUMBASS ?????????
    I bet 1000.- US dollars that you dont. YOUR BRAINS ARE NOT MORE DEVELOPED THAN….GOATS ! Bร€ฦ’ยชร€ฦ’ยชร€ฦ’ยชร€ฦ’ยชร€ฦ’ยชร€ฦ’ยชร€ฦ’ยชร€ฦ’ยช !
    How could I lose then ?

    Stop watching your TV Novelas and cartoons !!!!! What else could you do ? Not much for sure !
    Your wages should not be that high. If you have a job. Not sure at all ! Goats are just feeded, they dont get a salary !

    ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ

  • ch.c.

    Who cares about Nestle anyway
    You really are a bunch of idiots, and you prove it time and again, time an again !

    1) did you know that Nestlร€ฦ’ยฉ has Alcon Labs, the World Largest Eyescare company ???? Being sold out by steps to Novartis. Total price
    US$ 38 billion !
    2) did you know that Perrier is owned by…Nestlร€ฦ’ยฉ ????
    3) did you know that San Pellegrino is owned by…Nestlร€ฦ’ยฉ ?????
    4) did you know that L’Orร€ฦ’ยฉal is 25 % owned by….Nestlร€ฦ’ยฉ ??????
    5) did you know that Nestlร€ฦ’ยฉ is the largest or one of the largest producer of bottled water in…BRAZIL ?????
    6) did you know that Nestlร€ฦ’ยฉ is the World Largest Company…in Coffee, instant or not ?
    7) did you know that Nestlร€ฦ’ยฉ is the largest producer & exporter of…..BRAZILIAN POWDER MILK ?????????

    Idiots like you never know what they are talking about ! PROVEN ONE MORE TIME !!!!!!!

    AND TO THE IDIOT AES “Petrobras is owned by Brasil”
    Hmmmmm !
    then why you or me or whoever can buy/sell Petrobras shares ??????
    If only you could read properly the first few words of the article “Petrobras, the government-controlled….”
    Sorry idiot OWNED OR CONTROLLED….IS NOT THE SAME….WETHER YOU LIKE OR NOT !
    Once more, you goofed, as usual ! You cant even read what is written in plain English !!!!!!
    but….but….dear Idiot, dont worry, I am not surprised. It is not the first time you mix up everything.
    And not the last time you will !

    AND TO BOTH YOU WITH A RUSTY FEIJADO IN YOUR BRAINS : PROVE ME WRONG…IF YOU CAN !

    Last but not least…on Nestlร€ฦ’ยฉ :
    “Though Nestle is a Swiss company, this bar was made in Brazil.” (coming from a U.S. media)

    And a gift for the brazilian and foreign idiots :
    From this site,
    “In US$ 33 Million Investment Nestlร€ฦ’ยฉ to Install Its 27th Factory in Brazil
    Written by Newsroom
    Tuesday, 18 April 2006
    Nestlร€ฦ’ยฉ and Fonterra, a cooperative from New Zealand, are going to install an industrial unit in the city of Palmeira das Missร€ฦ’ยตes, in the southern Brazilian state of Rio Grande do Sul.

    The new dairy, to be called Dairy Partners America (DPA), is going to process one million liters of milk a day, and will receive investment of US$ 33 million (70 million reais).

    The forecast is for the first phase of installation, organization of production, to be completed up to August 2007.

    Initially, around 12,000 producers should supply milk to the dairy plant. This information was supplied by the government of the state of Rio Grande do Sul.
    Nestlร€ฦ’ยฉ has been operating in Brazil for 85 years and has 26 factories installed in the country. Brazil is the second largest producer of Nestlร€ฦ’ยฉ products in the world, and the company is the largest buyer of milk in the country.”

    ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰

  • AES

    SFB Ch.c
    Heh SFB! Exxon in a private company where Petrobras is owned by Brasil. “state owned Petrobras”. Gold soared over $900 today. Perhaps it will go to $1000. I think you mocked gold at these prices. Roubini is someone you would do well to know. He is projecting another 20% fall in equities, globally.

  • Sylon

    On the other hand never have I read USA medias writing
    Never read? Well, my dear racist Swiss grandpa… it’s time for thicker glasses ๐Ÿ˜‰

    Who cares about Nestle anyway? All you get from Switzerland is chocolate (belgian chocolate is better) and watches… apart from those, Switzerland has nothing to share with the world… and who cares about Switzerland anyway ??? No one does…

    BBC NEWS – An official report into the process of naturalisation in Switzerland says the current system is discriminatory and in many respects racist.
    http://news.bbc.co.uk/2/hi/europe/6992670.stm

  • ch.c.

    Hmmmmm !
    Brazilians loving to caress their navel always say….Brazil’s Petrobras, but never USA’s Exxon.
    On the other hand never have I read USA medias writing….USA’s Exxon, or Swiss medias writing Switzerland’s Nestlร€ฦ’ยฉ, or French medias writing France’s Total !!!!!

    ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜ฎ ๐Ÿ˜‰ ๐Ÿ˜‰

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