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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%Nov 11 4:00 PM EST

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To: 2MAR$ who wrote (75093)6/11/2011 3:38:03 AM
From: elmatador1 Recommendation  Read Replies (2) of 217693
 
Brazil Oil Major Finds Oil…for US. equivalent of 700 million barrels of oil in deep water Gulf of Mexico at the Keathley Canyon bloc it runs together with ExxonMobil (XOM) and Italian oil firm Eni. Exxon is Brazil’s partner in the bloc, with a 50% stake. The area where the oil was found lies over 248 miles off the coast of New Orleans and is one of the newest discoveries in the Gulf since it opened for business again in March, post-BP oil spill of 2010.

The US gets much of its oil from Canada and Venezuela, but new supplies coming on line from drama-free Petrobras would be good for the US who is on the constant look-out for crude from friendly states in friendly regions of the globe.

The US spent $1.9 billion on Brazilian oil from January to May 31, according to the Ministry of Trade, up from $1.4 billion in the same period last year.

Total volume was slightly over 2.937 million metric tons of crude oil, up marginally from 2.934 million metric tons in the same period last year.

blogs.forbes.com
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