- Neither the Brazilian government nor state-run Petroleo Brasileiro SA (Petrobras) is willing to stop producing oil and natural gas or to decrease output. Petrobras produces 1.9 million b/d of oil, but that figure is scheduled to rise to 3.1 million b/d by 2020 due to the discovery of offshore pre-salt reserves. Downstream, Petrobras is building five refineries, aiming to increase Brazil's refining capacity to 3.2 million b/d by 2020. "We want to increase our refining capacity in order to become a large producer of refined products. We aim to make Petrobras not only a major exporter of crude, but also of oil byproducts," said Petrobras CEO José Sergio Gabrielli. Jean Paul Prates, energy secretary for the Brazilian state of Rio Grande do Norte, said Brazil's model for the development and marketing of traditional hydrocarbons will be "completely different from that of traditional oil exporters, like the Arab countries or Venezuela." "It will be a model oriented toward domestic consumption, to satisfy our energy needs first, and then export the surplus. And it will still generate wealth for the country," Prates told IPS. -
These Brazilian ideas sound identico to a policy, an ignored one at that, I have heard before. I look forward to this Nation learning a thing or two from our neighbors below.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]