The Energy Report
Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
Can Brazil Reach Lofty Oil Output Targets?
|
PAVEL MOLCHANOV, Raymond James
(07/19/2010)
As visitors from around the world converge on Rio for the Olympic Games in 2016, chances are they will probably not see the deepwater rigs operating hundreds of miles from the Brazilian coast. But trust us, they'll be there. And while most tourists will not be especially interested in the Brazilian oil industry, it is the wealth created by that industry which will enable, in part, South America's first-ever Olympics to be funded. So sizable are the oil riches located off Brazil's coast that, by the middle of this decade, Brazil is likely to surpass Mexico as the #1 oil producer in Latin America. By the end of the decade, Brazil could be producing on par with, or even more than, Canada. Of course, Brazil is not the only country with aggressive goals for oil production. Case in point: Based on its 'official' service contract targets, Iraq could theoretically be the world's largest oil producer by 2020, pumping around 10 MMbpd. The difference is that Brazil's targets are much more credible. Ambitious, yes. Pie in the sky, no. Does Brazil Have the Projects to Drive Its Oil Production Growth? The table below shows the major Brazilian oil projects in the development pipeline, with startup expected over the 2010–2014 timeframe. It's an impressive list—arguably the most impressive of any non-OPEC country.  |
PRINT THIS PAGE
EMAIL THIS PAGE
Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
More Experts
"FCU's deal with CGN helps to financially and technically derisk PLS." (12/21/15) Fission Uranium Corp. - David Talbot, More >
"NXE is our top pick across all commodities." (12/22/15) NexGen Energy Ltd. - The Energy Report Interview with Rob Chang More >
"FCU will continue to explore and add pounds to what is already a world-class project." (12/22/15) Fission Uranium Corp. - The Energy Report Interview with Rob Chang More >
"EFR is well positioned to benefit from higher uranium prices." (12/22/15) Energy Fuels Inc. - The Energy Report Interview with Rob Chang More >
"FCU intends to sell $82M or 19.9% of the company to CGN Mining." (12/22/15) Fission Uranium Corp. - Jeb Handwerger, Gold Stock Trades More >