RIO DE JANEIRO -- Brazilian President Luiz Inacio Lula da Silva plans to announce on Friday that Brazil has become self sufficient in petroleum by producing enough oil to meet domestic demand, government officials said on Tuesday.
Lula will make the announcement during a visit to an oil platform in the Albadora Leste field, offshore of the state of Rio de Janeiro.
State oil company Petrobas said the launch of platform P-50, which pumps 180,000 barrels a day, will raise Petrobras's crude production by 13.4 percent in 2006, setting a new production record and ensuring Brazil's self-sufficiency for petrol needs.
The Albadora Leste field, discovered in 1986, has estimated reserves of 500 million barrels of oil.
Apart from oil, Brazil has increased production of fuel for cars by investing heavily in the development of ethanol from sugar cane.
PIN/AFP
News ID 83104
Your Comment