Global Oil Powerhouse

Brazil's state-run oil company, Petrobras,  plans to invest 224 billion USD through 2014 and double production by 2020. About 95% of that will be invested in Brazil, predominantly re-invested into education. Massive offshore oil finds have been discovered near at the Santos basin, offshore of Rio de Janeiro and some forecast they could hold 100 billion barrels of oil.  Brazil’s oil findings in the Santos basin will turn Brazil into a global oil and gas power-house over the coming decades. Add this to what is already a country with strong oil reserves and many predict Brazil will become one of the world’s largest oil producers.

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