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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (21414)	6/22/2010 4:41:04 PM
From: Brumar89	1 Recommendation Read Replies (1) \| Respond to of 86355

His boss, George Soros, owns stock in Petrobras. They're aggressively expanding their deepwater drilling offshore Brazil. Petrobras Hires 80% of Deepwater Rigs, Inflates Rents (Update1 ... Petroleo Brasileiro SA, Brazil's state-controlled oil company, leased about 80 percent of the world's deepest-drilling offshore rigs to explore prospects including the Western ... www.bloomberg.com/apps/news?pid=20601109&sid=a8V5CHwdycrk&refer=home RIGZONE - Petrobras Seeks New Rigs, Marches on with Expansion Plan More on this page Petroleo Brasileiro SA (PBR), or Petrobras, will start seeking bids for new rigs in the next couple of months as it marches on with its ambitious five-year investment plan. The Brazilian state energy giant in January announced it planned to invest $174.4 billion in 2009-13, including $28.6 billion this year -- an increase from $23 billion in ... RIGZONE News - leading source for the latest news and information for the oil and gas industry www.rigzone.com/news/article.asp?a_id=75149 Brazil sees silver lining in BP spill: more rigs Fri Jun 11, 2010 1:53pm EDTStocks * Brazil may pick up rigs idled on moratorium * Could help the country's offshore campaign * Deep water rigs in tight supply around the world By Brian Ellsworth and Joshua Schneyer RIO DE JANEIRO, June 11 (Reuters) - Brazil could benefit from the BP Gulf of Mexico spill as a U.S. moratorium on offshore drilling boosts available rigs for the country's deep water oil exploration program. Even as an ecological catastrophe makes the future of U.S. offshore drilling less certain, Brazil is plowing ahead with a $220 billion five-year plan to tap oil fields even deeper than BP's (BP.L) ill-fated Gulf well, which is still leaking crude. With an estimated 35 rigs idled in the Gulf of Mexico, Brazil is already receiving inquiries from companies looking to move their rigs here, where vast discoveries in recent years may soon turn the country into a major crude exporter. "What is bad for some may be good for others," said Fernando Martins, Latin America Vice President for GE Oil and Gas, which provides services to drillers in Brazil. "Since operators are shutting down at least temporarily in the U.S. Gulf, some companies are planning to move their rigs to Brazil now," he said, without offering details. The spill has temporarily halted new drilling in the Gulf of Mexico and Alaska, and has spurred Norway, which 40 years ago pioneered offshore drilling, to halt new licensing for now. Brazil's state oil company Petrobras (PETR4.SA) (PBR.N), which already produces around a quarter of the world's deep water oil, could be an obvious candidate to take newly available rigs. reuters.com