• Categories
  • Archives

Brazil to Be Self-Sufficient in Oil by 2006

The Financial Director of Petrobras, José Sérgio Gabrielle, estimated that the Brazilian state petroleum enterprise will be selling over a million barrels of oil daily to foreign markets in 2010.

According to Gabrielle, Petrobras’s goal by 2010 is to expand its daily production abroad to 613 thousand barrels, which, when added to exports of 550 thousand barrels of oil derived from domestic fields, would give the company over a million barrels in daily exports at the end of this period.

In a speech before the American Chamber of Commerce in Rio de Janeiro on “The Insertion of Petrobras in the International Capital Market,” he revealed that between now and 2010 the company plans to invest US$ 7.5 billion, 80% of this total in the area of Petroleum Exploration and Production.

“Objectively, from the viewpoint of Petrobras, the company’s capacity to produce domestically and generate an export surplus is improving substantially, and the tendency is to improve even more, diminishing the company’s and the country’s outside vulnerability in terms of petroleum,” he concluded.


The executive manager of Exploration and Production at Petrobras – Petróleo Brasileiro, Francisco Nepomuceno, says the company will continue to increase production until the end of 2005, when production should reach 1.85 million barrels per day. And in 2006, with a further increase to 2.2 million barrels per day, Brazil will be self-sufficient.

Nepomuceno said that with the arrival of the P-43 platform in December in the Barracuda-Caratinga field in Campos, there will be a spike in production.


“We have the infrastructure to handle 1.85 million barrels per day by the end of next year,” he declared.

This year production is running at an average 1.56 million barrels per day, but should rise to 1.64 million barrels per day by this December.

Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    Hurrah !!!
    Brazil will be exporting oil. That’s good news.
    I bet the first country in the line will be Saudi Arabia, begging for a bit of oil at a lower price.Then Iran, Iraq,Venezuela. Who else is missing in the list?

    Will it continue to be self sufficient in hunger, misery,etc?

    Blow me !!!!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Hired to Kill Brazilian Man Fakes Murder with Ketchup

Maria Nilza Simões, 51. a jealous Brazilian woman who could not tolerate her man’s ...

Illegality of Jean Charles Doesn’t Change London’s Responsibility, Says Brazil

Brazil’s government promptly reacted to the news that Brazilian electrician Jean Charles de Menezes, ...

Brazil Hopeful the Amazon Will Be Deemed Free of Hoof and Mouth Disease

According to the Brazilian Ministry of Agriculture, Livestock, and Supply, Brazil is about to ...

Dengue Drops 69% in Brazil

Cases of dengue fever, transmitted by the aedes aegypti mosquito, dropped 69% last year ...

Brazil Starts World’s Biggest Stem Cell Research Involving 1,200 Patients

Experimental medical procedures using stem cells in patients with serious heart problems have begun ...

US$ 13 bi: The Low Price to End Brazil’s Poverty

With a little more than 2 percent of its revenue Brazil could put an ...

Lula Has Buried Brazil’s Last Hopes

If not maddened by it, whoever bothered to review the statements, interviews, debates, and ...

Brazilian Guinea Pigs Got US$ 5 to Be Bitten by 100 Mosquitoes a Day

Brazilian Senator Cristovam Buarque (PDT party, Federal District), president of the Senate Human Rights ...

Buy from Brazil’s Varig, Fly American Airlines. And Vice Versa

Varig, the former leading Brazilian airline, which is now a subsidiary of Gol Linhas ...

Brazil’s Musical Polyglots

My own vote for the most absurd-sounding cover album ever committed to disc by ...