US and Argentina Get Lion Share of Brazilian Petrobras US$ 16 Bi Investment

Petrobras activities in Gulf of Mexico Petrobras, Brazil's state-controlled oil and gas multinational announced its international 2009/2013 investment plan totaling US$ 15.9 billion, of which 44% have been earmarked for allocation in the United States and Argentina.

The resources are to be distributed 79% for International Exploration & Production activities; Gas & Energy, 8%; Refining, Transportation, Marketing and Petrochemicals, 7% and Distribution 5%.

In the United States Petrobras will concentrate on exploration and production concessions in the Gulf of Mexico and in Argentina the company will continue among the main oil and natural gas producers.

Petrobras investments in Argentina also include marketing, refining and processing, derivative distribution, pipeline network, petrochemical and generation, and electric energy distribution businesses there.

In Africa Nigeria and Angola will receive 12% and 5% of the investments with 17% for the rest of the countries where Petrobras has interests. The item New business opportunities has been entitled with 22% of resources.

Petrobras expects a production annual growth rate of 8.8% through 2013, from 240.000 barrels of oil equivalent per day (boed) in 2008 to 341,000 boed in 2013.

Looking further into the future production for 2020 is estimated at 632,000 boed.

Petrobras has overseas interests in Argentina, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela, Cuba, US, Mexico, Portugal, UK, Turkey, China, Singapore, India, Iran, Japan, Pakistan, Angola, Libya, Mozambique, Nigeria, Senegal, and Tanzania.

Mercopress

Tags:

  • Show Comments (2)

  • Frank P

    US
    A good investment but is this going to be an area that needs continous investment to work?

  • Building a future

    U.S. and Argentina
    I believe that this is a great investment for both countries. This is because it sets a precedent for great relationships and separating boundaries between two countries. I believe that it is important to make sure that both countries focus on building their relationships in order to grow.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil: Rush in Congress for Biosecurity Law

The Brazilian government once again placed the issue of Genetically Modified Organisms (GMOs) in ...

Brazil Wants Better Integration with the 10 Countries It Borders

A greater integration between Brazil and South America is one of the focuses of ...

Housing and Sanitation, Pressing Problems for Brazil

By 2020 the member countries of the United Nations (UN) should halve the number ...

Gisele Bündchen Spares Charm in Her Undies, But Government Wants to Ban Her Act

The world’s most famous model, Gisele Bündchen, is a familiar figure in Brazilian magazines, ...

Brazil’s Cosmetic King O Boticí¡rio Wants Bigger Piece of Foreign Pie

The Brazilian factory of perfumes and cosmetics O Boticário, located in São José dos ...

It’s Brazilian Hélio’s day! A Cinderella Story at the Indy 500

On a day that could never have been imagined the very foundation of Brazilian ...

PCC, gang First Command of the Capital

Brazil’s PCC Prison Gang May Be Murderers But the State Is Their Accomplice

For two weeks, last month, the city and state of São Paulo in southeastern ...

Brazilian Congress Creates Committee to Deal with Indian Issues

During a joint session held last week, Brazil’s National Congress approved the creation of ...

Panama’s National Airline Orders Brazilian Jets

Copa Airlines of Panama announced today its acquisition of ten Embraer 190 commercial jets ...

Brazil Uses Sports to Promote Changes in the Country

Brazil’s Minister of Sports, Agnelo Queiroz, declared that "The government is using public policy ...