Wednesday, 28 November 2012

Good News for PetroBras

The state-controlled Brazilian petroleum company, PetroBras has found a new source of oil and natural gas in the Solimoes basin situated in the Amazon. This news source reported that this source "has the capacity to produce 1,400 barrels per day of good-quality light oil and 45,000 cubic meters per day of natural gas"

This is an interesting news story, judging that Brazil has had a record-setting low of deforestation in the region. I totally believe this new discovery might endanger their 2020 goals to reduce deforestation by 80%. Pumping the oil of of this area will probably require severe deforestation efforts to build the proper machinery. Moreover, pipelines will have to be built, which will also impact deforestation. The good side, however, is that PetroBras will have another source of oil and will probably import less, helping the economy of the country directly.

By Alexis Pelletier

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