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BRAZIL: PETROBRAS TO INVEST US$ 16 BILLION IN NATURAL GAS.
IPR Strategic Business Information Database, May, 2006
According to anba: Brazilian oil giant Petrobras intends to invest US$ 16 billion in the gas sector up to 2010. The measure should reduce the Brazilian dependence on Bolivian gas. The neighbouring country, which is the main supplier of the product to Brazil, has decided to nationalize its natural gas production and is negotiating new prices for the supply of the commodity on the Brazilian market.
Petrobras explores gas in Bolivia and should have losses with the measure. Half of the natural gas consumed in Brazil, 200,000 barrels of oil equivalent a day, comes from Bolivia. This information was disclosed yesterday (15) by the financial director at Petrobras, Almir Barbassa, in a press conference in Rio de Janeiro, southeastern Brazil. Brazilian investment in the...
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