In November, Brazil is set to hold what will be the country’s biggest oil and gas auction on record. The administration has lured international players like Chevron, ExxonMobil and BP—as well as major Chinese firms—selling off exploration areas in Brazil’s famous deepwater pre-salt oil layer. The precise amount of oil stored in the reserves is still uncertain, but it could reach 15 billion barrels—something in the ballpark of the entire reserves of countries like Mexico or Angola.
This week, we will be talking about Brazil’s oil industry—how Brazil rose to become one of the main offshore oil drilling countries in the world, and what challenges lie ahead.
We also talk about the recent oil spill in Northeastern Brazil.
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