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:

You May Also Like

Guide: All the Rio Carnaval You Can Play in Brazil

Most people when they think of Carnaval in Rio de Janeiro think of the ...

Brazilian woman takes birth-control pill

Brazil Offers Free and Heavily Subsidized Birth-Control Pills and Vasectomy

Brazilian President, Luiz Inácio Lula da Silva, launched this Monday, May 28, the National ...

Black and White: Marveling at a Brazil Where Racial Rules Are Learned Early in Life

I just returned from another wonderful trip to Brazil. I have been visiting that ...

Anti-Gun Caravan Crisscrosses Brazil

Brazil’s Minister of Justice, Márcio Thomaz Bastos, has begun the week at the head ...

Rust Hits US While Brazil Becomes Top Soy Exporter

The Brazilian government says it expects a record soybean harvest this year. Brazil recently ...

Brazil Expecting a Lot from Biodiesel

Biodiesel, a fuel of vegetable origin, derived from such sources as the castor-oil plant, ...

Brazil’s Appeals Court Denies Moral Damages Against Cigarette Maker

The 4th Panel of the Superior Justice Court (STJ), the highest Brazilian appeal court, ...

The Art of Stealing

A poll by Berlin-based Transparency International with international businessmen from around the world has ...

Brazil’s Trade Surplus Reaches US$ 569 Million, 31% Lower than Last Year’s

Brazil’s commercial surplus in the first three weeks of February totaled US$ 735 million, ...

Freedom of Expression Under Duress in Brazil, Says London Human Rights Group

The executive director of London-based human rights organization Article 19 and the coordinator of ...