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Brazil looks to solve its energy security travails
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
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The upcoming election pits the right-wing incumbent against a left-wing former president
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Petrobras and smaller Brazilian independents are bullish in production forecasts
Brazil Petrobras
Charles Waine
16 August 2022
Follow @PetroleumEcon
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Brazilian upstream reaps divestment dividend

Petrobras is starting to see significant production gains in the pre-salt, while independents are already raising output at fields divested by the NOC

The Brazilian presidential election in October will pit incumbent right-wing populist Jair Bolsonaro against left-leaning challenger and former president Lula da Silva. On the oil side, whoever takes office is poised to inherit a heady mix of upstream consolidation and bullish production forecasts.   NOC Petrobras is leading from the front with a strong focus on output growth from the pre-salt. Planned ramp-ups in production from the P-68 platform—at the Berbigao and Sururu offshore fields—and a new floating production, storage and offloading (FPSO) vessel at the Sepia offshore field, both in the Santos basin, should add 55,000bl/d of capacity to the company’s portfolio this year. The firm i

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