• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 19 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 7 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 3 hours Saudi Fund Wants to Take Tesla Private?
  • 3 hours Starvation, horror in Venezuela
  • 12 hours Venezuela set to raise gasoline prices to international levels.
  • 4 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 6 hours Are Trump's steel tariffs working? Seems they are!
  • 2 days Batteries Could Be a Small Dotcom-Style Bubble
  • 2 days Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 2 days Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 1 day Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 17 hours Corporations Are Buying More Renewables Than Ever
Alt Text

Why China Will Continue To Buy Iranian Crude

While the United States sanctions…

Alt Text

Can U.S. Shale Stop A Global Oil Supply Crisis?

U.S. shale is often overlooked…

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

Trending Discussions

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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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