• Categories
  • Archives

Brazil Credits Oil Self-Sufficiency to Having State Monopoly on Oil

The president of Brazil’s state oil company Petrobras, José Sérgio Gabrielli, said that the country’s achievement of self-sufficiency in petroleum production was obtained through the efforts of the company’s workforce and the Brazilian people, who never accepted putting Petrobras on the "privatization block."

In a speech at the National Historical Museum, where a ceremony was held to commemorate the conquest of self-sufficiency, Gabrielli took a retrospective look at the company’s history and pointed out that Petrobras is now the world’s fourteenth largest petroleum company and the seventh among petroleum companies that are publicly traded.

He also emphasized that, in 2005, when platforms P-43 and P-48 started up operations, the company raised its daily production to 1.8 million barrels, boosting annual production by 13%.

"Notwithstanding this production effort, we were able to replace our reserves in the proportion of 1.3 barrels for each barrel we produced."

Gabrielli also recalled that, to expand Petrobras’ foreign presence, the company acquired exploratory blocs in Africa, South America, and the United States, purchased assets belonging to Shell in Colombia, Paraguay, and Uruguay, and bought 50% of a refinery in the United States.

He concluded his speech by referring to the outlook for increasing biodiesel and ethanol production as an option to replace petroleum as energy sources.

Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published.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

Brazil Brings Haitian Foes to the Bargaining Table

After ten years, the major political groups in Haiti resumed their dialogue, and the ...

Fifty Slaves Rescued in Brazil

The mobile inspection unit of Brazil’s Regional Labor Office (DRT) freed 50 rural laborers held ...

Brazil’s Lula Gung-Ho on Integrating South America

In his weekly radio program, Brazilian President Luiz Inácio Lula da Silva highlighted the ...

Firebrand Extraordinaire

I’m Crazy for You, America By Liana Alagemovits Brazilian Press Trying to describe Caetano ...

Brazil Airlines in a Spin: US$ 684 Million in Losses

Regular Brazilian airlines incurred losses of 1.27 billion reais (US$ 684.4 million) in 2007. ...

Despite Misgivings Brazil Ready to Welcome Chavez into Mercosur

Brazil's Senate leader and former president José Sarney said that the Mercosur incorporation of ...

Gas production in Brazil

Brazil to Invest US$ 18 Bi in Gas and More than Double Production

Brazil's state-controlled oil company Petrobras is planning to invest US$ 18 billion in the ...

Dreams to Share River Waters Closer to Reality in Brazil

With 36 votes in favor, Brazil’s National Council of Water Resources approved the opinion ...

Brazil Reduces Ethanol in Gasoline in Effort to Curb Prices

In Brazil, starting this February 1st, the mandatory percentage of ethanol added to gasoline ...

Brazilians to Get 1.2 Bi Free Condoms from Government in 2009, a World Record

The Ministry of Health of Brazil announced that it will purchase 1.2 billion condoms ...