Brazil Gives Up Reaching Oil Self-Sufficiency This Year

Brazilian Petroleum S.A., Petrobras, intends to turn Brazil into a net exporter of petroleum, that is, one that exports more than it imports. According to its financial director, Almir Barbassa, the company may obtain an annual surplus of US$ 2 billion.

Barbassa participated yesterday, November 7, in a presentation to reporters on platform P-50, which is still under construction. According to the director, the P-50, when it is ready, should assure the country self-sufficiency in petroleum production and enable the company to export the commodity.

The platform, which is in the Mauá-Jurong shipyard, in Niterói, in Rio de Janeiro state, is undergoing the final adjustments in its assembly.

"With the P-50 starting up operations, in the first half of next year, our domestic production will grow from its current level of 1.7 million barrels per day to 1.9 million barrels per day, which will outstrip domestic demand, which is presently on the order of 1.8 million barrels per day," the director states.

Next year as well, Petrobras expects to place in operation platform P-34, which will be installed in the Jubarte Field, in the Espí­rito Santo Basin. The forecast is that this platform will have a daily production of 60-70 thouand barrels of petroleum.

The state enterprise plans to build "another around 12 production units scheduled to go into operation by 2010," Barbassa affirms. "We hope to reach 2010 producing 2.3 million barrels of oil here in Brazil," he says.

A mere two months ago, in a speech to the nation on Independence Day, September 7, Brazilian president Luiz Inácio Lula da Silva had announced Brazil’s oil self-sufficiency for this year.

At the time he emphasized work on infrastructure his administration is carrying out and announced:

"Allow me, on Independence Day, to celebrate an important victory with you. This year Brazil will become self-sufficient in petroleum production. That means we will be much less vulnerable to international crises," said the President.

ABr

Tags:

You May Also Like

Brazil’s Referendum on Gun Sales May Never Happen

The publication of a Unesco study of deaths in Brazil by firearms has ratcheted ...

Drought and Lack of Technology Lower Expectation of Brazil’s Harvest

Brazil expects to produce 122.6 million tons of grain in the 2005/2006 agricultural year, ...

Lured by Lower Taxes Brazilians Flock to Car Dealers

In Brazil automobile output climbed in June for the second straight month as car ...

Foreigners Invest US$ 13 Bi in Brazil in 4 Months, a 26% Boost

US$ 12.7 billion entered Brazil in the form of foreign direct investment (FDI) in ...

Abbott Gets Brazil Ultimatum: Lower AIDS-Drug Price or Lose Patent

Brazil’s Ministry of Health has declared the anti-retroviral drug Kaletra (Lopinavir/ritonavir), manufactured by Abbott ...

Pernambuco, Brazil, Wants to Become a Hub for Oil Services

Pernambuco, a state in Brazil's Northeast, wants to become a supplier hub of services ...

Is Brazil’s Green Revolution Killing the Green?

Despite the multitude of approaches that have been suggested to deal with the developing ...

Brazil Gets US$ 14 Million to Help Protect the Amazon

World Wildlife Fund yesterday contributed US$ 3.3 million to secure long-term financial sustainability for ...

Elis, alive and well in the world

This year Elis Regina would have turned 50 if not for a tragic drug ...