How This Latin Country Will Be The Next Leading Energy Producer
How This Latin Country Will Be The Next Leading Energy Producer
By David Kashi
on November 12 2013 10:32 AM
Brazil is set to become a leading global energy producer within the next few decades, with its oil production seen tripling by 2035, according to a report released Tuesday by the International Energy Agency.
The agency’s annual World Energy Outlook, released in London, said that based on recent offshore discoveries, Brazil will become the world’s sixth-largest producer within 20 or so years.
Not only will Brazil have an abundance of oil, but the report also points to a fivefold increase in natural gas production there that could meet all of the country’s domestic needs by 2030.
The report comes at a time when Brazil’s growing middle class has contributed to an 80 percent increase in the country’s energy use. Meeting that demand requires a $90 billion annual energy-sector investment.
More:
http://www.ibtimes.com/how-latin-country-will-be-next-leading-energy-producer-1466098
= new reply since forum marked as read
