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Brazil huge new oil reserves !!

Discussion in 'Brazil Property' started by nigel-aib, Nov 10, 2007.

  1. nigel-aib

    nigel-aib New Member

    The Brazilian government says huge new oil reserves have been discovered in the state of Rio de Janeiro and São Paulo and could turn the country into one of the biggest oil producers in the world.

    Unfortunately i cannot post the link, if you go to the BBC world news website you will find it there.

    Link Added:
    BBC NEWS | Business | Brazil announces new oil reserves
    Last edited by a moderator: Nov 10, 2007
  2. robh

    robh Administrator Staff Member Premium Member

    This is from a Stratfor report which can't be published in full here, but when these guys say something is about to happen it usually does. The report goes on to say that the stability provided by the oil find will change the economy in many ways for the better.

    Brazil's mammoth offshore oil find, projected to hold as much as 8 billion barrels of light crude, gives the country the world's eighth-largest reserve of oil and increases its reserves by 40 percent. More important, the field will provide Brazil with an energy alternative to its unreliable Latin American neighbors and strengthen Petroleo Brasileiro's grip on deepwater drilling.


    There is more info from our news feed as well: 'Huge' oil field found in Brazil
  3. deedee1

    deedee1 New Member

    :):)Hi all,



    With the world wide mass shortages of oil around the world puts brazil in a good negotiating position and more worldwide recognition!

    The economy will definately thrive from this recent news even more!

    Take care-D
  4. Golfingworld

    Golfingworld New Member

    How many huge offplan developments are there now in Aberdeen and how many new golf courses are there? Is there a new airport in Aberdeen and and a hug suspension bridge over the Tay? They found huge reserves of oil 20 years ago....are people flooding in to buy apartments?
  5. beenthere

    beenthere Guest

    As usual oh so wrong again.....

    quote from here: Aberdeen and Its Life with Oil - CS - In Focus

    Aberdeen and Its Life with Oil

    10.08.2006 All of Europe is suffering from the high price of oil – all except one small city on the east coast of Scotland. Aberdeen lives off oil, especially when the price is high – and will do so as long as drilling continues in the North Sea. The story of a profitable dependency.
  6. KDJX

    KDJX New Member

    yeah its 30 degrees all year round in Aberdeen !!!
  7. JMBroad

    JMBroad New Member

    Hahahah oh boy at least you make me chuckle still ;)
  8. Golfingworld

    Golfingworld New Member

  9. JMBroad

    JMBroad New Member

    :D Haha try reading them next time... That article is over a year old...

    Do you do stand-up routines as well or is this as far as you go?

    Just to elaborate, once again as I have the time to analyse things, I can tell you that not only is that article a year old but it is also totally unrelated to Brazil, real estate, oil and anything else which could possibly be related to this thread aside from the possibility that you could find it on google if you tried.

    But thanks for the totally irellevant post once again.
    Last edited: Nov 15, 2007
  10. Golfingworld

    Golfingworld New Member

    Mr B you need to sharpen your Google browser! This thread was posted on today's Times site, was in most papers and was on BBC news! Gotcha!

    It is not irrelevant as it refers to the of the world's major economies and one where many buyers for Brazil could come from the UK. It is highly significant that the credit squeeze started by US sub prime loan defaults is working its way round the globe. All these signs are likely to affect investment, particulary in property. The end result being there is significant downward pressure on property values worldwide now.

    BBC NEWS | Business | Barclays reveals sub-prime losses
    Last edited: Nov 15, 2007
  11. JMBroad

    JMBroad New Member

    Ohh, you mean This one. The news about Barclays Capital Investment bank revealing sub-prime losses from investments in the US market?

    Well that IS a relevant article. But the one you linked to is an article posted last year about Barclaycard writing off 1.5 bn in credit card debt which is not relevant to this topic. Especially as it happened before what you say caused it. "A vingança é doce, mas os frutos são amargos" - look that one up, it's Brazilian ;)

    Intentions are good but please read the content next time. Sorry, this fish got away this time. Keep trying, might hook me yet, everyone makes mistakes, just some more often than others
  12. JMBroad

    JMBroad New Member

    Oh and by the way... regarding the article you did mean to link to... I left home too early this morning so missed the morning news... but... the article seems to be a very positive article? Did you read it?

    Please give me your interpretation of the article, I'd be interested to know how you think it will affect the global economy and investing in Brazil.
    Last edited: Nov 15, 2007
  13. Andy100

    Andy100 New Member

    Yes this is good news for Brazil , but just to add a note of realism as i work in the industry there is usually a long lead time typically 8-10 years and massive investment needed in infrastructure before discoveries of this magnitude are turned into a marketable product. This particular field lies in nearly 2000 mts of water so there will be some drilling challenges but Petrobras are one of the world leaders in deep water drilling so i see some very positive spin-offs for Brasil and its technology and its confidence as a Nation once this project becomes a reality.
  14. RalphJ

    RalphJ New Member

    Actually, their latest find is under 7,000 feet of ocean water and more than 16,000 feet of rock, sand and salt, including a 1.2-mile-thick layer of rock-hard salt.

    Massive deep-water oil find in Brazil challenges technology - Yahoo! News

    Although Sergipe is the smallest state in Brazil, it's the 3rd largest oil producer in the country.

    This is a typical photo of the coastline in Aracaju.

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