Huge new oil discovery in Brazil

BBC ^ | 28 December 2005 | BBC

[george76]

Brazil's state-owned oil company, Petrobras, says it has discovered a huge new offshore oil field off the coast of Rio de Janeiro state.

The Papa-Terra field was found in the Campos Basin, which is already Brazil's most important oil-producing region.

Petrobras estimates it contains at least 700 million barrels of crude - about 10% of Brazil's current reserves.

The field, which is jointly operated with the US company Chevron, should start producing oil by the end of 2011.

Petrobras said the oil from the Papa-Terra field was heavier than the sweet light crude favoured by international markets, but the firm was investing $2bn in adapting its refineries to process heavy oil.

New advances

The new field is expected to help Petrobras achieve its goal of making Brazil self-sufficient in oil. Since 2003, the company has been meeting 91% of the country's needs.

The Campos Basin region already contains 40 other offshore oil fields producing more than 1.1 million barrels a day, amounting to more than 60% of Brazil's production.

[SierraWasp]

"I thinking ROAD TRIP!!!"

If yoo gots da muney, buddy... I gots da tiyiyime!!!

[SierraWasp]

Well... FINALLY!!!

[Rakkasan1]

what about the endangered Brazilian caribou??? oh the horrors!

[Rakkasan1]

You can't be a Real Country unless you have a BEER and an airline - it helps if you have some kind of a football team or some nuclear weapons, but at the very least you need a BEER.
-Frank Zappa

[hershey]

Does this mean all the Brazilian illegals in the US will go home? Probably not.

[Eric in the Ozarks]

I think Frank was on to something.

[Marine_Uncle]

"The way the liberals are protecting ANWAR I think there is a whole lot more oil under that ice than we know."
There is a lot more. We have to keep in mind the perimenter that defines ANWR is but a small area in the extreme NE portion of Alaska. To the west is a large area that then goes into the NAVAI Petroleume Reserves (where Barrows is located). In short, there could be literaly tens of billions of barrels in these areas that has not even been considered due to restrictions places on where companies can even drill exploratory wells etc..
I wonder how many of us are aware of how much Alaskan oil was sent to the Richmond refineries, cracked into gasoline and other fractions and petrochemicals then sold directly to Japan for a number of years.
As usual, there is so much that is not presented that we all could make use of in attemting to understand the whole issue. I for one am lacking in this department.

[Species8472]

Huge new oil discovery in Brazil = 700 milliom BBL.

ANWR = 10 BILLION BBL (Low ADNR estimate)

[Antoninus]

Petrobras estimates it contains at least 700 million barrels of crude - about 10% of Brazil's current reserves.

Funny, this is a fraction of what is thought to be in ANWR and yet it is called 'huge' by BBC while the ANWR deposits are called "insignigicant."

[Tolerance Sucks Rocks]

Now if it was found off our coast the liberals would whine and tell us that drilling it would hurt the enviroment.

Don't forget the tourism industry louses, all of 'em...

[kellynla]

BTTT

[george76]

Huge new oil discovery in Brazil = 700 milliom BBL.

ANWR = 10 BILLION BBL (Low ADNR estimate)

Hat tip to Species8472

[Grampa Dave]

To: george76
Huge new oil discovery in Brazil = 700 milliom BBL.
ANWR = 10 BILLION BBL (Low ADNR estimate)


88 posted on 12/29/2005 10:09:54 AM PST by Species8472
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To: george76
Petrobras estimates it contains at least 700 million barrels of crude - about 10% of Brazil's current reserves.

Funny, this is a fraction of what is thought to be in ANWR and yet it is called 'huge' by BBC while the ANWR deposits are called "insignigicant."

89 posted on 12/29/2005 10:12:31 AM PST by Antoninus

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We have been lied to about the amount of oil in our world for all of our lives. When I started college in the mid 1950's, I wanted to be a geologist. I can remember the professors of Geology saying at that time we had discovered all of the oil fields in the world and there were only so many dinosaurs from which the oil came from. I wonder how many at that time were liberals and pre enviral whackos.

[Ernest_at_the_Beach]

Someone on a thread I was reading recentlu\y said he just received an E-Mail saying a trillion barrels of Oil had just been discovered deep under the Rocky Mountains....wonder if that was the Nevada rumors again?

[Grampa Dave]

Who knows.

I think the shale oil deposits in that area have never been fully extracted.

[norraad]

It's everywhere (oil), the only liquid we have more of on this planet is water.

The Deep Hot Bio-sphere

Thomas Gold

Simply, a must read to dilute the lies we've been taught (dino, my a$$!).

[george76]

The oil shale in the American Rockies is huge to unknown. Once the prices get higher, then the engineers will find a scientific solution to releasing the oil from the shale.

Canadian oil sands is the same...huge to unknown.

The second point is how the media calls Brazil's millions huge and ignores ANWAR's Billions.

[tubebender]

From the way back machine http://www.freerepublic.com/focus/f-news/1504783/posts

[Clintonfatigued]

I'm happy for Brazil, but how will this affect the United States?

[TASMANIANRED]

Weren't we supposed to run out of oil about 6 years ago.