Brazilian President Luiz Inácio Lula da Silva promised an "energy revolution" that will make Brazil a member of OPEC and a leading exporter of bio-fuel.
Speaking at São José dos Campos, in São Paulo state, Lula announced a US$ 2 billion investment program in four main projects, including the modernization of the country's largest refinery.
He also underscored the "self-sufficiency" achieved by Petrobras, which now produces as much oil as Brazil consumes domestically, in the range of 1.8 million barrels per day.
"We are now self-sufficient in oil and we'll soon join OPEC (Organization of Petroleum Exporting Countries), because we are going to become big oil exporters" he said.
Petrobras expects to export an estimated 500,000 bpd by 2010. However analysts doubt the president's optimism given the growth rate of domestic consumption.
Lula said that this month he will announce the construction of 26 ships of a total of 46 that will be built with Brazilian steel at Brazilian shipyards.
He also described as an "extraordinary success" the Biodiesel Program for producing diesel fuel from seeds rich in oil, such as castor beans, palm kernels and soybeans.
"Brazil in the 21st century will become the world's greatest energy power" said Lula adding that Petrobras has an ambitious domestic and overseas exploration program.
"Wherever there is oil, we'll be there competing. But at the same time we are going to be planting oil," he said.
Further on President Lula spoke about Brazil's natural gas industry which will expand from deposits within Brazilian territory, "which will enable Brazil to enter an era of energy-independence. We won't need to be fighting with Bolivia, with Chile, with Argentina, the United States, Iran, Iraq," he highlighted.
Currently the São José dos Campos refinery processes 250,000 bpd and modernization contemplates the construction of 16 new cracking units to obtain products of higher added value and greater demand in the market.
Brazil's energy matrix is already fairly diversified: 65% is hydroelectric, and Petrobras has found significant natural gas reserves off shore the Atlantic and in the Amazon.
Brazilian political analysts reacted cautiously to the announcements recalling that President Lula da Silva will be facing reelection next October and that Bolivian president Evo Morales unbending decision to raise the cost of natural gas represents an unexpected setback for Brazilian industry.
Bolivian natural gas represents 75% of energy supply to São Paulo, the country's industrial hub.
Mercopress - www.mercopress.com
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written by Guest, June 04, 2006
I can already feel the pigs flying out of my ass!
written by Guest, June 04, 2006
""Brazil in the 21st century will become the world's greatest energy power" said Lula adding that Petrobras has an ambitious domestic and overseas exploration program. "
Not only is he illiterate, he's delusional!
And if he plans on exporting oil, he better plan on selling it a helluva lot cheaper than he is to his own citizens!!! Which is now at 5 DOLLARS per gallon!
Swear, just have to sit and shake your head...makes you understand although why brazil is the way it is, these politicians absolutely have no grip on reality.
written by Guest, June 04, 2006
Four more years of Lula the clown in power...God help Brazil.
written by Guest, June 05, 2006
written by Guest, June 05, 2006
written by Guest, June 05, 2006
written by Guest, June 05, 2006
written by Guest, June 05, 2006
Will NASA become second-rate in comparison to the new brazilian space program????
written by Guest, June 06, 2006
written by Guest, June 08, 2006
if ethanol is a bad idea y does the us whant to use it. It is a good Idea it works in brazil and it can work in the rest of the word And It can mean hope not only for brazil but for the us
If brazil becomes a more prosper nation than america becomes more prosper due to more trade and more sals y buy shit from the arab when you can buy from american nabors
it is a good Idea and I like it and if you don't like it or lula f**k you
written by Katia, September 16, 2008
I was really glad I found this article...!
Watching CNN last night I saw the small bottom lines news saying that Brazil was invited to join Opec and refused!...
I'm living in U.S. for 6 years and the only thing I can think about looking back is that brazilians especially have this 'cultural thing' of complaining 'no matter what' and cannot see or think outside the bubble... And don't get me wrong, I use to be the same way.
Altough I think Brazil needs improvement in many segments of the economy and society, especially on the abyss between the rich and poor, Brazil and its government are making the right decisions in many areas.
Internal development of resources is the key for the future, be self-sustainable, even if the prices are higher them the rest of the world, even if that is not 'enough oil' to join the prostituted organization "OPEC", it tells the rest of the world that the Brazilian leaders are not so stupid...
If you ever had the chance that I'm having, to watch the super-powered U.S.A. failing in inumerous bad choices in the globalized economic world as now, you would change your mind about free-trade and 'expansion of the economy over-seas', where U.S. is shipping technology and resources, to enrich another ex-Comunist, actually Socialist nation (China) and totally leaving behind its entire middle class hard workers asking themselves what to do now...
Its a collapsed society... In many ways... Economy, values, future...
Americans are hoping for the best, but who will really work for it?!...
And so, Brazil the way I see it, from 'outside the bubble' have many different opportunities if headed in the right direction...
And man!, so far so good...
Lula did not sell his soul to China, like they tried so many times to buy it...
And yes, everything is expensive... What is the real problem with that?!...
That is the way things should be... Accept to buy and make everything so cheap in China, buy oil from Middle Easterns instead invest in your own technologies and resources and them you can finally if you wish, call the 3rd world in development south american Brazil a clone of United States of America...
That is just one his promise and commitment within many..... he failed to deliver: