Brazil’s Petrobras Has Big Plans and US$ 17 Billion to Spend in 2006

Petrobras – Brazilian Petroleum S.A. – plans to invest US$ 17.4 billion next year on petroleum exploration and production, expansion and modernization of its refineries, and increased oil production in Brazil and abroad.

In a note to the press, the State enterprise affirms that 2006 will be "the year when Brazil will become self-sufficient in petroleum."

Petrobras announces that four new platforms will start up operations, adding 360 thousand barrels in daily petroleum production.

As a result, the company expects to establish a daily average production figure of 1.91 million barrels of petroleum in Brazil, more than what the country consumes, thus achieving self-sufficiency.

According to Petrobras, overall oil and gas production in Brazil and abroad should reach an average of 2.5 million barrels of oil per day.

In its foreign operations, the company expects to produce 317 thousand barrels of oil and gas per day, 16% more than in 2005.

ABr

Tags:

You May Also Like

Small Victory

In court, the Indians held their emotions even when they were informed about the ...

Brazil: We Can’t Believe Veja Story on Cuba Money. It’s Sheer Lunacy.

This time, people from the Veja weekly magazine paid heed to the formal requirements ...

52 Deaths Later Rio Finds Out It’s Too Lax in Allowing Building in Risk Areas

Sérgio Cabral, the Rio de Janeiro state’s governor, it turns out, signed into law ...

Brazil: Amazon Thriller

The boy grabbed the chicken by its wings with one hand, and with the ...

While Death Toll Rises to Over 180, in Rio, Forecast is for Continued Rain

Rio’s rains now have killed at least 180 people and over 14,000 were left ...

Spain’s Premier: “Brazil Has Gained the Future”

The Spanish Prime Minister, José LuÀ­s Rodriguez Zapatero, affirmed today that Spain is “the ...

Former Brazilian President Fernando Henrique Cardoso

Former Brazil President Says Country Lost Its Leadership

Latin America has never been so divided, Mercosur is but an illusion of integration ...

Brazil Again Threatens to Break Patents of 4 AIDS Drugs

Brazil intends to break the patents of four anti-retroviral medications, if American laboratories are ...

Kuwait Has Big Plans and Brazil Wants a Piece of the Business

Brazil and Kuwait have a prospect of rapid growth in trade, but Brazilians need ...

Brazil Goes to Washington to Fix Its Social Security

Brazil’s Minister of Social Security, Amir Lando, initiated, yesterday, a series of contacts to ...