Brazil Says This Time Is for Real: Oil Self-Sufficiency in 2006

Brazzil Magazine covers

The new petroleum platform, or drilling rig, P-50, which is now ready to be moved to the Albacora Leste oil field in the Campos Basin, off the northern coast of the state of Rio de Janeiro, will ensure that Brazil becomes self-sufficient in petroleum this year.

Petrobras, the state-owned oil company, had promised that Brazil would reach self-sufficiency in oil last year, but that goal was never reached.

Petrobras spent US$ 634 million on the rig, which is the largest ever developed in Brazil. It has the capacity to produce 180,000 barrels of petroleum per day.

Pedro Barusco, the managing executive of Engineering at Petrobras, explained that the excellent performance by Petrobras over the last few years has been the result of heavy investments and intense team work. In 2005, according to Barusco, the firm invested US$ 4 billion and created 53,000 new jobs.

And the president of Petrobras, José Sergio Gabrielli, pointed out that when the firm was founded in 1953 it produced 2,600 barrels a day.

"Today our engineers have made it possible to produce 1.8 million barrels per day in domestic oil fields alone," he declared.

ABr

Tags:

You May Also Like

Brazzil Magazine covers

Eloquence and Honesty

Stories of crimes of passion by celebrities are quite common in Brazil. Here are ...

Brazzil Magazine covers

Sound Excursions

Close to 19 million adult Brazilians have become tired of waiting for government help ...

Brazzil Magazine covers

Brazil’s Plans for the Amazon Are Not as Green as Lula Paints Them

Criticism of Brazilian President Luiz Inácio Lula da Silva’s handling of deforestation in the ...

Brazzil Magazine covers

Lula’s Last Appeal: When You Vote for Dilma You Vote for Me

Brazilian president Luiz Inácio Lula da Silva called on fellow Brazilians to vote for ...

Brazzil Magazine covers

Code Red at Brazilian Prisons

A new document urges Brazilian authorities to take emergency measures to deal with the ...

Brazzil Magazine covers

Over 60% of Mercosur’s Workers Have Only Informal Job

Ten years after the creation of the Mercosur, the thousands of workers who traverse ...