Thursday, 21 July 2011 13:09

A lot more “Latino” Oil as expected

The South American Energy Organisation OLADE surprised the public opinion. As their statistics showed, the Latin American countries have a much larger reserve stock on crude oil, as excepted. Almost 40 % more, as so far knowned.

The actual reserve amounts 1,7 billions barrel. Venezuela seems to be the richest, with almost 300 billions barrel. Brazil is also a part of this crude-rich countries. The new-found fields “Tupi” and “Jupiter” promise ca. 45 billions barrels of crude.

This amount sounds good, indeed, but to gain all this oil costs also a lot. The Brazilian oil, for example, is unconviental oil. You can find it deep under the sea or near to the coast. In such places, where digging is not the easiest activity to do. That's why, the Brazil oil giant Petrobas plans to invest 73 billions US dollars until 2015 to exploit the stocks, together with other international partners.

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