Posted on 12/28/2005 6:38:29 PM PST by 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.
(Excerpt) Read more at news.bbc.co.uk ...
"Quero uma cerveja..."
I bet the Brazilians are too damn stupid to drill for it like we are......
are=aren't lol one word can change the meaning of an entire sentence
The liberals said that we were running out fo oil...
but do not believe the liberals.
I had a good friend that recently passed on due to lung cancer that listened to Art Bell religiously and developed cancer soon after Bell turned his program over to George what's his name!
I've noticed so many people getting cancer after a disappointment that I'm beginning to wonder if there's a connection. I hesitate to say anything as I might be perceived as becoming just as mystical and magical as Art himself!!!
By the way, there's a HUGE tar sands deposit in Canada that holds more black gold than Saudi Arabia has!!! All ya gots ta do is strip mine it... dig it up and heat it up and bwalah... Up from the ground came a bubblin crude... Where;s Jed Klampert??? Ha Ha Ha!!!
Hey Dog Gone! Look what some "Liberal_In_Austin" done dug up from antiquity!!!
Do yu' think that would ever happen?
They sure are a stupid lot.
Liberals are like bad weather.
The Romans and ancient Greeks had them.
They will be with us always.
“Government is like a baby: An alimentary canal with a big appetite at one end and no sense of responsibility at the other.” — Ronald Reagan
The sissya$$ed~wus~whores who've followed have done us great harm.
Everybody else can do as they please.
I believe that's the logic behind the Kyoto treaty.
oil demand was likely to soar to 95.8m barrels a day in 2012 from 81.6m barrels this year.
http://www.freerepublic.com/focus/f-news/1863354/posts?page=12#12
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.