Brazil Expecting Surplus of 1 Million Barrels of Oil in 6 Years

PetrobrasThe discovery of giant reserves in the pre-salt layer led Brazil to believe that it may reach 2016 with a daily surplus of around one million barrels of oil. This information was disclosed by Leonardo Caldas, from the National Petroleum, Natural Gas and Biofuel Agency (ANP).

While participating in the Brazilian Association of Private Equity and Venture Capital Congress, Caldas discussed the theme of Energies for the Future. The panel sought to show that the Brazilian energy matrix has been diversifying in recent years, with the growth of biomass, which currently answers to 31.6% of the entire national energy park.

“That places Brazil in a favorable position with regard to the other countries in the world, as the global average use of biomass is just 9.8%,” pointed out Caldas. According to him, oil answers to 36.67%, whereas water energy (from hydroelectric power plants) answers to 14.8% of the energy generated in the country.

Even admitting that, with production of around 2 million barrels a day, Brazil is currently self-sufficient in oil production, Caldas pointed out that current production in the country is just enough “for domestic consumption and, therefore, there is no export surplus, which may be reached in 2016, when discoveries in the pre-salt layer should generate a surplus of 1 million barrels of oil a day.”

On commenting on the growth of flexible fuel vehicles in the country, which in 2009 answered to 88.2% of new vehicle sales in the country, Caldas pointed out the significant expansion of demand for ethanol, which currently exceeds the use of petrol as a fuel.

“Brazilians may currently choose three kinds of fuel: ethanol, petrol and natural gas, which places the country in a unique position in the world,” he said.

ABr

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