Bolsonaro Puts Up Brazilian Richest Oil Wells for Sale to Foreign Companies
The productivity of the Buzios field is higher than the Arab wells and generates 40,000 barrels a day.
6 Nov 2019 – One of them is the Buzios field where there are three of the world’s most productive wells, which are capable of yielding more than 40,000 thousand barrels per day, a productivity level that is greater than that in Saudi Arabia, according to the Petrobras Engineers Association (AEPET).
Bolsonaro’s auction of public oil fields has drawn attention due to the size of the financial losses Brazil will suffer as a result of selling off the assets to foreign companies.
Brazil stands to lose 10 million oil barrels which are part of “already discovered” reserves, meaning private companies will have a very low risk that their exploration activities will not result in almost immediate production.
Triste era Bolsonaro: entregam o petróleo, destroem o estado, menos; emprego, saúde, educação… mais fome… em si: menos direitos! pic.twitter.com/nej5h45ESK
— Kessya (@KessyaACL) November 6, 2019
“There are 4.5 million people living in misery. There are simply no signs that the current situation will change. On the contrary, indicators will be worse. The Bolsonaro era is sad: they deliver oil resources and destroy the State. Less employment, health and education. More hunger. In short, less rights!”
Experts argue that exploring those fields should have been assigned to the country’s public company Petrobras, which would have seen Brazil earning revenues amounting to US$277 billion in total.
“The auction is inopportune and detrimental to the national interest,” the AEPET president Felipe Coutinho said and added that privatization will not improve the Brazilian balance of payments.
“Oil should be used primarily for domestic consumption… No country has grown ever by exporting crude oil through foreign companies and importing refined fuels.”
Former President Dilma Rousseff denounced that the oil auction will generate unprecedented damage to her country’s national sovereignty as part of the #destructive neoliberal agenda” of Bolsonaro’s government.
“The government is handing over our greatest wealth and our future as a nation. It reduces to dust Lula da Silva’s law which guarantees Petrobras preference in oil exploration.”
Brazil is facing another environmental catastrophe.
Gepostet von teleSUR English am Mittwoch, 30. Oktober 2019
Tags: BRICS, Big Oil, Brazil, Capitalism, Conflict, Economics, Energy, Environment, Geopolitics, Latin America Caribbean, Oil
DISCLAIMER: The statements, views and opinions expressed in pieces republished here are solely those of the authors and do not necessarily represent those of TMS. In accordance with title 17 U.S.C. section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. TMS has no affiliation whatsoever with the originator of this article nor is TMS endorsed or sponsored by the originator. “GO TO ORIGINAL” links are provided as a convenience to our readers and allow for verification of authenticity. However, as originating pages are often updated by their originating host sites, the versions posted may not match the versions our readers view when clicking the “GO TO ORIGINAL” links. This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
Click here to go to the current weekly digest or pick another article:
- Covid 19 Crisis in India
- ‘We Are Witnessing a Crime against Humanity’: Arundhati Roy on India’s Covid Catastrophe
- China: Key Player in a New World Game
LATIN AMERICA AND THE CARIBBEAN:
- How Venezuela Is Rebuilding Its Industrial Base, One Volunteer at a Time
- Raul Castro Steps Down as Head of Communist Party Ending an Era in Cuba
- Colombia: An Ideal U.S. Client-State in the Western Hemisphere
- How the World’s Energy Problem Has Been Hidden
- Nuclear Fusion and the Great Global Gamble
- Fukushima Meltdowns Turn Ten, Still Getting Worse
- Personal Reflections on Exposing the Myths of Money
- Appropriator Financial Fabric, the Case of BlackRock
- Why Bitcoin Is Not a Socialist’s Ally – Reply to Ben Arc
- Bolsonaro Puts Up Brazilian Richest Oil Wells for Sale to Foreign Companies
- The Neo-Liberal Project in the World and in Brazil Is Anti-Life and the Enemy of Nature
- Who's Responsible for the Ecocide in the Amazon