Auctioning Brazil’s Oil and Gas
From Al Jazeera
By Paula Daibert
The auction of a giant oil field in Brazil is bringing the country to the centre of attention of the global energy industry – and raising questions about Brazil’s energy strategy.
In 2007, Brazil’s majority state-run oil company Petrobras announced the discovery of large oil reserves off the country’s coast. Analysts say it is the biggest discovery in the last 20 years, which may in the long run shift the epicentre of the world’s oil supplies to the South Atlantic.
Madga Chambriard, director-general of the National Oil Agency (ANP), told Al Jazeera she estimates that Brazil’s gas and oil production will roughly double in the next 10 years, from 2.4 million barrels per day to 4.5 million.
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