Posts tagged with "Petrobras"

Petrobras, Brazil’s state-run petroleum company, created a cool project combining two very different things: Formula 1 racing and offshore drilling. A few years ago, Petrobras discovered vast reserves of oil below what’s called a pre-salt layer (pre-sal, in Portuguese) in the ocean off the coast of Brazil. The reserves could make Brazil a major oil power once the oil can be exploited on a large scale.

In the meantime, Petrobras came up with a cool idea: they decided to make the trophies for this month’s Brazil Grand Prix out of the pre-salt rock found 5,000 meters deep in the ocean. The trophies will be on display in São Paulo, Brasília, and Rio de Janeiro in November. Petrobras is calling them the “most valuable trophies in the world.”

This video below explains the project. Watch and see if you can answer the questions.

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Questions

1. What does the artist think about the project?

2. What does the artist mean when he says “quando fiquei sabendo?”

3. What are some of the child-related words the geologist uses to describe the rock?

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For today’s reading comprehension activity, we’re going to take a look at an article from VEJA Magazine about the Brazilian state-run oil company, Petrobras.

Petrobras volta a importar gasolina após 40 anos

“Após quarenta anos de autonomia, a Petrobras voltou a importar gasolina. Prejudicada pela crise do etanol, a estatal foi obrigada a comprar o combustível da Venezuela, que já recebeu encomendas futuras.”

[Click the link above to read the full article]

1. What did Petrobras have to import? Where did it import the product from?

2. How many barrels of the product did Petrobras buy? When will the product arrive in Brazil?

3. What two factors negatively affected the production of this product in Brazil?

Answers after the jump.

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This week, the Wall Street Journal revealed that the U.S. government plans to invest US$2 billion in Petrobras, Brazil’s state-run oil company. It is the largest company headquartered in the Southern Hemisphere and the largest company in Latin America in terms of revenue. Its assets, which include oil assets in Brazil and 18 other countries, amounts to $133.5 billion.

The investment, which is in fact a loan, is to help Petrobras explore the Tupi basin off the coast of Rio de Janeiro, which could potentially make Brazil one of the world’s biggest oil powers. The investment will go towards offshore drilling activities to take place over the next several years.

According to the article, a preliminary commitment of $2 billion is on the table, though that amount may increase. However, some experts are scratching their heads about the idea of a loan from the ailing U.S. Treasury to cash-rich Petrobras.

Also this week, the New York Times reported that the Brazilian government is seeking more control over Petrobras in an effort to prevent foreign influence and to ensure national control over the Tupi oil field. However, the reform plan, which is being promoted by President Lula, faces strong opposition in Congress.

Petrobras, Brazil’s state-owned oil company, has announced that it will begin drilling for crude oil in the Tupi oil field in the Santos basin on May 1, 2009. Discovered in 2007, the oil field is estimated to have between 5 and 8 billion barrels of oil, but could potentially have up to 80 million barrels at deeper levels.

At the beginning, 15,000 barrels will be extracted per day, with an increase to 30,000 and later 100,000 after testing. However, Petrobras has already been extracting oil in the Campos basin and in Niteroi with the help of new platforms, and extracted a record 2,012,654 barrels last Wednesday.

Petrobras plans to invest over US$174 billion from 2009 to 2014 in oil exploration and production. However, Brazil was recently hit by the worldwide economic crisis, with a drop in industrial production and a loss of manufacturing jobs.

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