Oil – Reuters reported that Brazil-based Petroleo Brasileiro SA (NYSE:PBR), also known as Petrobras, said that its deepwater oil field south of Rio de Janeiro contains "good quality" crude that is a relatively light grade, meaning that it will be cheaper to refine than oil at Petrobras' other Brazilian operations.
Gas – Bloomberg reported that Petroleo Brasileiro SA (NYSE:PBR), better known as Petrobras, is reviewing its investment in a Peruvian joint natural gas project with Repsol SA as it divests assets to better focus on developing its offshore oil reserves.
Oil – Oil companies are hoping this latest major find will provide further justification for speeding up the permit issuing process for deepwater drilling in the Gulf of Mexico.
Oil – A brief look at 3 oil exploration hotspots, all of which have already produced multi-billion barrel finds of recoverable crude in the last few years, and that may still hold much more.
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