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Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

Saturday, December 13th 2014 - 04:37 UTC
Full article 20 comments

The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel. Read full article


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  • ilsen

    umm.. hello Brazil! Heellooo!
    The oil price is heading for 40...
    do the math... Venezuela will collapse, Brazil could be dragged down too. How is that trade balance working out for you guys? Vnzla owes you how much?????????????

    Dec 13th, 2014 - 04:54 am - Link - Report abuse 0
  • Giorgio C. Tsoukalos


    Brazil and USA will sell the oil finds they rubbed in Argentina's face at a major loss. Got to love it!

    We keep our oil for when it's at 500 dollars in 10-15 years.

    Dec 13th, 2014 - 05:13 am - Link - Report abuse 0
  • Mgc21

    You guys make me laugh... you just know nothing about Brazil oil and Petrobrás! The average medium lifting cost of this company is about U$ 14,36/barrel(this happens because there onshore oil and pos-salt reserves ...and is from there is the major oil producer). Actually, today Brazil has got to import 222,000 b/day to attend national consumption. Even when Brent had U$110,00/barrel the selling domestic prices were at U$ 98,00/barrel(established by government), so were being imported losses. Now, with brent at 60,00 the company now is even more profitable. Maybe has got some areas in pré-salt at break-even today, but the investment program had initiated about 4 years ago, nobody can't imagine this scenario.

    Dec 13th, 2014 - 11:50 am - Link - Report abuse 0
  • golfcronie

    How's PUTA MUERTE doing. Got any oil yet? Fracking is hideousy expensive.

    Dec 13th, 2014 - 12:20 pm - Link - Report abuse 0
  • Tik Tok

    #2 Souvalaki the only thing you'll have to trade in 10 years is oil, your Argie Government has done it's best to kill your farming and manufacturing. Sounds similar to Venezuela????

    Dec 13th, 2014 - 03:08 pm - Link - Report abuse 0
  • golfcronie

    The old bird don't look happy, it couldn't be she is lying could it?

    Dec 13th, 2014 - 03:27 pm - Link - Report abuse 0
  • Captain Poppy

    In 15 years.......the combustion engine using fossil fuels will be a collectors items. Sounds about right tutti boi, that is about when Argentina will come into being a major player in the oil industry with the other remaining country.....Venezuela.

    Dec 13th, 2014 - 04:39 pm - Link - Report abuse 0
  • yankeeboy

    6. They'll still use oil in poor countries. It will basically be free by then. I love that the USA is creating havoc with oil producing countries.
    I hope the Arabs go back to chopping each other heads off over a rain puddle.
    It shouldn't be too long now.

    Dec 13th, 2014 - 04:57 pm - Link - Report abuse 0
  • Captain Poppy

    The kingdom is averaging over 50 heads a month of their own.

    Dec 13th, 2014 - 05:49 pm - Link - Report abuse 0
  • Briton

    At this rate, you may well buy two for one on E-BAY lol

    Dec 13th, 2014 - 08:52 pm - Link - Report abuse 0
  • Englander

    Cold winter, China stockpiling, curtailed exploration, green energy shelved and Europeans looking to cut dependency on Russia and this $40 price will be looked back on with fond nostalgia. Fill your boots now while you still can. July 2015 oil will hit $150 and continue on upwards.

    Dec 14th, 2014 - 01:28 pm - Link - Report abuse 0
  • Captain Poppy

    China is in a shit storm is has not idea on how to deal with. Playing free market economics and BEING a free market economy is two different things. It is the same as Argentina crying ....democracy this and democracy that........yet never quiet being a democracy. Pretending to be something never is quite the same as actually being it.

    “In the three geologic formations that account for 88 percent of U.S. shale oil output -- North Dakota’s Bakken and the Eagle Ford and Permian in Texas -- explorers can drill new wells profitably in some areas even if crude falls to $25 a barrel, according to a team of analysts led by Manuj Nikhanj at ITG Investment Research Inc. That’s less than half yesterday’s $67.38 closing price for U.S. crude.”

    I've heard 30 to 40 a barrel for July 2015

    Dec 14th, 2014 - 02:17 pm - Link - Report abuse 0
  • yankeeboy

    10. I don't know what you're reading but I'm seeing $35bbl for the next 2 years.

    China is a mess, u$3T isn't near enough to fix what ails them. Their banks are bankrupt, they have huge civil unrest in the West. Their large Gov't owned companies have been making products for 6 years that nobody is buying. They're probably all bankrupt too. For YEARS China has much paid more for worldwide assets than anyone else would pay. Good luck trying to liquidate them when they need the cash.
    Tick Tock Tick Tock

    Dec 14th, 2014 - 03:04 pm - Link - Report abuse 0
  • Briton

    If it goes on like this,
    they may well be borrowing of CFK

    justa joka...

    Dec 14th, 2014 - 07:35 pm - Link - Report abuse 0
  • Captain Poppy

    That's what I've heard as well.....30 to 40 for quite some time. The combination between the USA pumping and a supply glut along with dropping demand from China's mess. I see they are looking at another .3% decrease in growth for 2015 for China. That figure may again be aadjusted downward well under 6%.....for a developing nation....not good. The banks started easing money and lowering capital requirement....currently at 75%. I hear they may go to 90% of deposit to lend out. This ballon is going to pop.

    Dec 14th, 2014 - 11:16 pm - Link - Report abuse 0
  • yankeeboy

    Chinese firms are rewarded for production not sales. The produce and produce but have not had sales for the pruoduction for 6 years. Then they get loans based on inventory to do more production.
    At some point it will end.
    And it won't be pretty.
    At that point I hope a lot of mfg is moved back to the USA.
    Did you see the article about Ohio re-opening all of these closed plants? I guess there is a little boom there.
    The only reason people chose to mfg in China is because it was cheap, its not cheap any longer.
    They're screwed.

    Dec 15th, 2014 - 12:51 pm - Link - Report abuse 0
  • Briton

    Cheap labour for some western companies,
    but everything comes to an end, sooner or later,

    like you say, the wise ones will make sure they have a back up and/or new businesses ready to go.

    Dec 15th, 2014 - 07:43 pm - Link - Report abuse 0
  • yankeeboy

    We haven't heard from that stupid Brasilaro in a long time. Wasn't he screeching and screeching about this ridiculous pre-salt oil?
    Brazil a country of the future
    but never the present

    Dec 15th, 2014 - 10:42 pm - Link - Report abuse 0
  • Briton

    latest news
    US, UK Navies Sign Framework for Future Cooperation
    RN sailors also train aboard USN aircraft carriers as the Royal Navy constructs aircraft carrier HMS Queen Elizabeth, the lead ship of her class. The United Kingdom currently has 15 pilots training in U.S. Navy units. The two navies also work closely on countering piracy, supporting disaster relief efforts, and fighting terrorism globally.

    Does this mean we can send American carriers to the Falklands?
    And send CFK completely

    Dec 16th, 2014 - 11:40 am - Link - Report abuse 0
  • Jack Bauer

    The 'Brasileiro's' posts are interesting to see how the human being communicates without a brain...I miss laughing at his absurd comments.....worthy of a stinky petista.

    Dec 16th, 2014 - 10:16 pm - Link - Report abuse 0

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