The Washington Post features an excellent article on Petrobras and its five-year, $ 174 billion initiatie to provide rights, vessels, drilling systems and oil platforms to drill up billions of barrels of oil.
Brazil was still an oil importer five years ago, it became today a net oil exporter (Brazil is completely self-sufficient in both oil and electricity).
José Sergio Gabrielli,, Petrobras’ president said last week “It’s going to change the role of Brazil in the geopolitics of oil”. By 2020, Brazil will produce 3,9 million barrels a day. The Brazilian proven oil reserves would rise form 14,4 billion barrels to more than 30 billion barrels; this puts Brazil in the same league as major oil exporters as Qatar, Kazahstan and Nigeria.
Read the full article here.
Tags: petrobras 2020
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