Friday, February 6, 2009

Petrobras' Oil Calvary on the Way

Brazil is tooling up an army for plunder. Petrobras will receive 33 brand new spakin' oil rigs by 2012, with 11 arriving this year. Forty rigs are operated or leased currently.


The rigs are part of a $104.6 billion exploration and oil output plan through 2013. Under the program, Petrobras hopes to increase production by more than half to 3.66 million barrels a day in 2013 from 2.4 million barrels a day in 2008. Exploration and production will account for more than half the company’s $174.4 billion spending plan in the period.

- Brewskie

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