• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 12 mins The Downside of Political Correctness
  • 5 hours Rioting and Protesting
  • 2 hours George Floyd’s History
  • 20 mins Main Stream Media falls into depressed mood today after hearing the record May jobs report UP 2.5 MILLION JOBS !
  • 1 hour Trump waves a Bible
  • 11 hours US and Australia Sign SPR Lease Agreement
  • 53 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 5 hours Let's try to link the recent events back to the situation with oil production and pricing
  • 1 day Healing, Not Hatred
  • 5 hours In the Event of WW3, Oil and/or Renewables?
  • 1 hour Coronavirus hype biggest political hoax in history
  • 11 hours China’s Oil Thirst Draws an Armada of Tankers
  • 21 hours Trumps Oil Industry....
  • 1 day Let’s Try This....
  • 1 day Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Brazil's Petrobras Goes for the Gold

In the investing world, little is certain beyond the fact that energy stocks are usually a wise place to park money, as global demand is consistently outstripping production.

Smart money should be taking a serious look at Brazil, which under former President Lula da Silva got its financial house in order, and over the last four years has made a number of offshore oil finds in the southern Atlantic in Brazil's Exclusive Economic Zone that last week led Francisco Nepomuceno Filho, Petrobras London head of exploration and production, to comment during an interview, "Brazil as a whole could have a potential of the same size of the North Sea, including Norway and the U.K." Britain and Norway's North Sea reserves were eventually estimated at about 62 billion barrels prior to their development.

Nepomuceno's comments should not be taken lightly, as Petroleo Brasileiro S.A., more familiarly known as Petrobras, is Brazil's most important energy conglomerate, the world's 20th largest energy concern and the country's largest company.

Nepomuceno was addressing the issue of Petrobras discovering yet another offshore field, Lula/Cernambi, which is estimated to contain an eye-watering 7 -11 billion barrels of recoverable crude, leading the deposit to be labeled the one of the Western Hemisphere's biggest oil discovery in the last three decades.

Now, the bad news - Lula/Cernambi's reserves lie more than three miles beneath the south Atlantic's waters, and are covered…




Oilprice - The No. 1 Source for Oil & Energy News