Petrobras strikes again
Brazil’s state-owned oil giant has struck again with a new find, it has emerged.
Petrobras announced late yesterday (May 21st) that it had discovered oil in pre-salt reservoirs in an area called Bem-Te-Vi along coastal zones of Sao Paulo.
People considering buying property in Brazil could be interested to hear the news of the discovery as it further suggests the country’s oil industry is booming.
The new find will be explored predominately by Petrobras (66 per cent) in partnership with Shell (20 per cent) and Galp Energia (14 per cent).
Meanwhile earlier in the week a report by Economatica revealed that the oil giant had overtaken Microsoft as the world’s third biggest business.
The firm was valued at $295.6 billion (£149.22 billion) compared to Microsoft’s $274 billion.
Petrobras announced earlier this month that its investment should total $54 billion this year before stating that it produced an average of 2.157 million barrels of oil per day in April.
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