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Recent Offshore Oil Discoveries and Prospects for Brazil's Energy Sector

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Recent Offshore Oil Discoveries and Prospects for Brazil's Energy Sector Summary Brazil is currently the largest consumer of primary energy among Central and South American countries. In the Western Hemisphere, it ranks third largest after the US and Canada. It faced a serious energy crisis in the years immediately following the Arab Oil Embargo and imported about 85% of its crude oil consumption in the 1970s. In the subsequent years, with the Pró-Álcohol policy to increase domestic ethanol production, the country has become the second largest producer and the largest exporter of ethanol in the world. In 2006 it produced 16.3 billion litres which represents 33.3% of the world's total ethanol production and 42% of the world's ethanol used as fuel. With regards to crude oil output, Brazil’s oil production currently is 2.238 million barrels per day and consumption is 2.1 million barrels per day. Its domestic demand for energy is expected to increase substantially with the increase in consumption by the transportation and electricity sectors. Scope • GlobalData viewpoints cover the latest events or important trends in the global oil and gas industry and provide our in-depth analysis of issues and challenges. Viewpoints offer expert opinions and GlobalData’s views of various developments that have been taking place in the oil and gas industry across the world. Reasons to Buy • Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry. • Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today • Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry • Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events

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									Recent Offshore Oil Discoveries and the
Prospects for Brazil’s Energy Sector

                                                                                Reference Code: GDGE0547VPT
                                                                                Publication Date: MAY 2008




Energy Viewpoint                                                              GDGE0547VPT / Published MAY 2008
© GlobalData. This brief is a licensed product and is not to be photocopied                                  Page 1
Table of Contents




1           Table Of Contents

1      Table Of Contents                                                                                    2

1.1       List of Figures                                                                                    4


2      GlobalData Viewpoint                                                                                 5

2.1       Summary                                                                                            5


3      Recent Offshore Oil Discoveries and the Prospects for Brazil’s Energy Sector                         6

3.1       The Current Milieu                                                                                 6

3.2       Changes in Domestic Energy Industry                                                                6

3.3       Oil and gas Discovery                                                                              7

3.4       Oil field Discoveries: Analysis                                                                    8

3.5       Conclusion                                                                                         9


4      Recent developments                                                                                 10

4.1       May 09, 2008: Brazil Says It Wants To Join OPEC                                                   10

4.2       May 09, 2008: Petrobras' Gasene Pipeline To Be Completed By Early 2010                            10

4.3       May 08, 2008: Shell To Begin Production At Brazil BC-10 Oil Block In 2009                         10

4.4       May 05, 2008: Petrobras To Begin Pumping Crude From Tupi Field In 2009                            11

4.5       Apr 29, 2008: Petrobras Discovers Oil And Natural Gas Reserves In Southern Brazil                 12

4.6       Apr 22, 2008: Brazil To Invest $72 Billion In Oil And Gas Exploration Projects                    12

4.7       Apr 18, 2008: Oil Finds Prompt Brazil To Change Rules In The Sector                               13

4.8       Apr 17, 2008: Norse Energy Provides BM-CAL-5 Block Update                                         14

4.9       Apr 16, 2008: 
								
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