Brazil Oil Embarrassed Cut

8 10, the international oil prices held steady above 70 dollars a barrel, the global commodity markets turn increasingly clear signs of cattle, while the Brazilian national oil company (Petrobras) is awkward at this time to join the ranks of the cut .

“Average daily production of 205 million barrels of crude oil in Brazil will be a difficult task.” Petrobras (the Brazilian oil) CEO Jiabuaili (JoseSergioGabrielli) recognized the beginning of the enactment of this difficult to complete a production plan, but he did not disclose the specific cuts in the coming months of data. Brazil oil internal data show that the first six months of this year was 195.8 million barrels of daily output.

“Production cuts will not affect our oil supply to China.” On August 5, Brazil, on behalf of the oil in the Chinese Han Jiakang said the reporter.

In May this year, China and Brazil reached an agreement, China Development Bank to provide 100 billion dollars in loans to Petrobras, the Brazilian oil is guaranteed in the next 10 years, two major oil enterprises in China continued to fuel supply, Sinopec daily 60 000 – 10 million barrels of oil 40,000 -6 barrels. Special circumstances, China and Japan are likely to increase fuel supply to 20 million barrels, equivalent to the current capacity of the company one-tenth.

At that time, the Brazilian oil full of confidence for the completion of established goals. 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 ambitious oil development plan in the hope in the next 5 years 174.4 billion U.S. dollars investment to accelerate the exploitation of the field. When the oil price downturn in the oil giants have cut and lower investment, the Brazilian oil investment plans especially eye-catching. But just six months later, Jiabuaili have to admit that difficult to complete in early production targets.

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

cooperation agreement clearly stipulates that China’s national oil company and its affiliated service companies will have the opportunity to participate in the development of new oil fields in Brazil. Brazil’s oil officials said the Beijing Office, 100 billion worth of oil for loans is likely to invest in the development of the newly discovered oil fields.

Hanjia Kang told reporters that there are many Chinese companies hope to begin drilling in Brazil, the Brazilian oil is selected with the qualifications of qualified vendors. Hanjia Kang said, “We welcome China’s equipment manufacturers to build factories in Brazil.”

Does not include the waters southeast of Brazil found that the new high-yield oil. Hanjia Kang told reporters, the first exploitation of some of the wells or oil production rate was 100%, while the current global average oil production rate is maintained at 10% -20%, so Brazil will not easily vacate the development of new oil fields abroad company.

Addition to cuts, the Brazilian oil is also experiencing more trouble.

8 6, a formal investigation into the Brazilian oil group. Earlier, Brazilian Senate issued a statement that the Brazilian oil suspected of tax evasion and transfer of funds to the government ally up to 24 billion.

Although Petrobras CEO Jiabuaili open to the outside world, denied the allegations, but opposition parties made the investigation that the Brazilian oil not only tax evasion, high procurement, bribery is still some occasions, supporters of President.

Labor government led by a member of the 11 senators are investigating, is not yet the final result.

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