5.12.07 by ASPO
Brazil's announcement of the Tupi discovery created a lot of buzz in the oil industry and the press. Business Week anointed Brazil as the New Oil Superpower (November 19, 2007). "In a recent radio broadcast, Brazil's President Luiz Inácio Lula da Silva said he's convinced a "higher power" has taken a shining to Brazil." God could not be invoked, however, in a little noticed item published six days earlier: Petrobras Reduces 2008 Brazil Oil Output Forecast To 2 Million B/D from SmartMoney. Let's take a closer look at Brazil's oil production and what role the Tupi field will likely play in the future.
http://www.aspo-usa.com/index.php?option=com_content&task=view&id=265&Itemid=91
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