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Brazil Oil Embarrassed Cut

8 10, the worldwide oil costs held regular above 70 dollars a barrel, the worldwide commodity markets flip increasingly clear indicators of cattle, while the Brazilian national oil company (Petrobras) is awkward at the moment to join the ranks of the cut .

“Average every day production of 205 million barrels of crude oil in Brazil can be a troublesome activity.” Petrobras (the Brazilian oil) CEO Jiabuaili (JoseSergioGabrielli) acknowledged the start of the enactment of this troublesome to finish a manufacturing plan, however he didn’t disclose the particular cuts in the approaching months of knowledge. Brazil oil inner data present that the first six months of this year was 195.Eight million barrels of every day output.

“Manufacturing cuts is not going to affect wti crude oil price history chart our oil supply to China.” On August 5, Brazil, on behalf of the oil in the Chinese language Han Jiakang mentioned the reporter.

In May this yr, China and Brazil reached an agreement, China Growth Bank to supply a hundred billion dollars in loans to Petrobras, the Brazilian oil is guaranteed in the next 10 years, two major oil enterprises in China continued to gas supply, Sinopec day by day 60 000 – 10 million barrels of oil forty,000 -6 barrels. Particular circumstances, China and Japan are likely to extend gasoline supply to 20 million barrels, equivalent to the current capability of the corporate one-tenth.

At that time, the Brazilian oil stuffed with confidence for the completion of established objectives. Because the waters in the southeast of Brazil, the new discovery of a forecast as high as 330 billion barrels of oil reserves. In early 2009, Brazil proposed an bold oil growth plan in the hope in the following 5 years 174.Four billion U.S. dollars funding to speed up the exploitation of the sphere. When the oil worth downturn in the oil giants have reduce and lower investment, the Brazilian oil funding plans particularly eye-catching. But simply six months later, Jiabuaili should admit that tough to finish in early production targets.

Hanjia Kang did not mention the current progress of the oil-for-loan agreement. He only mentioned that the oil-for-loans to Pakistan Cooperation Agreement to offer China with crude oil in Brazil offered a assure for energy cooperation between the two sides provide assist. Pakistani years

cooperation settlement clearly stipulates that China’s national oil firm and its affiliated service companies can have the chance to participate in the development of recent oil fields in Brazil. Brazil’s oil officials said the Beijing Office, a hundred billion price of oil for loans is likely to invest in the development of the newly found oil fields.

Hanjia Kang told wti crude oil price history chart reporters that there are lots of Chinese firms hope to start drilling in Brazil, the Brazilian oil is chosen with the skills of certified vendors. Hanjia Kang mentioned, “We welcome China’s gear manufacturers to construct factories in Brazil.”

Does not include the waters southeast of Brazil discovered that the new high-yield oil. Hanjia Kang informed reporters, the wti crude oil price history chart first exploitation of a number of the wells or oil manufacturing rate was 100%, whereas the present global average oil production rate is maintained at 10% -20%, so Brazil will not easily vacate the development of latest oil fields abroad company.

Addition to cuts, the Brazilian oil can also be experiencing extra trouble.
8 6, a formal investigation into the Brazilian oil group. Earlier, Brazilian Senate issued an announcement that the Brazilian oil suspected of tax evasion and switch of funds to the federal government ally as much as 24 billion.

Though Petrobras CEO Jiabuaili open to the outside world, denied the allegations, but opposition events made the investigation that the Brazilian oil not solely tax evasion, excessive procurement, bribery is still some occasions, supporters of President.

Labor government led by a member of the eleven senators are investigating, is not but the final consequence.
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