Brazil Will Produce All the Oil it Needs by 2006

In a public hearing, yesterday, before the Senate Economic Affairs Commission, the president of Petrobras (Brazilian Petroleum, S.A.), José Eduardo Dutra, said that Brazil may become self-sufficient in petroleum production next year.

Dutra states that the company forecasts a 14.5% increase in production in 2005 in comparison with last year.


When asked about alterations in fuel prices, Dutra affirmed that he is accompanying the evolution of prices on the international market and awaiting a clearer definition on this matter.


He claimed that the price of petroleum in Brazil is competive and in line with the world market.


“Our policy is not based on transferring short-term volatility to consumers. There are times when our price is higher, there are times when it is lower, but over the course of the year our price adheres to the international market price,” he said.


Translation: David Silberstein


Agência Brasil

Tags:

You May Also Like

Brazil’s Foreign Minister on Iran: We’ll Not Simply Bow Down to Consensus

Brazilian Foreign minister Celso Amorim defended on Wednesday the Brazilian position to not pressure ...

Brazil’s Embratur Goes Open Source

Embratur (Brazilian Institute of Tourism), the Brazilian government’s tourism agency, should finish by April ...

Brazilian President Lula seems unbeatable despite all the scandals around him

While a Brazil Group Seeks Death Penalty for Corrupt Politicos, Lula Sails Unfazed

Brazil’s President, Luiz Inácio Lula da Silva, is set to win next month’s presidential ...

Brazil Says It’s Setting Up World’s Biggest Cultural Network

Brazilian President Luiz Inácio Lula da Silva paid a visit to Heliópolis, a poor ...

Brazil Hopes Mega Reurbanization Project Will Steal Drug Traffickers’ Thunder

It was a rare scene: Brazil's president and his entourage visiting a favela in ...

Brazil Blames US’s and EU’s Stinginess for Environmental Conference Failure

Brazil participated Monday, February 6, in the final day of the Special Session of ...

Brazilian Military Was Building A-Bomb Disobeying Constitution and President

An atomic bomb as powerful as those dropped in Hiroshima and Nagasaki, was almost ...

Brazilian Flower Exports Grow Over 500% in 6 Years

Flower and plant exports from Brazil between January and November this year have already ...

Brazil Gafisa's Wilson Amaral de Oliveira rings NYSE opening bell

Gafisa Becomes 32nd Brazilian Company to Join NY Stock Exchange

Brazilian Wilson Amaral de Oliveira, CEO of Gafisa S.A., a leading homebuilding company in ...

US, Europe and Japan Import from This Brazilian Carnauba Wax Maker

In the northeastern Brazilian state of Rio Grande do Norte, a small company is ...