Politics will be the key determinant of shareholder value at Petrobras in connection with the supergiant oilfields discovered in the kilometres-deep subsalt band of the Santos Basin. The field to focus on is Tupi – not only because of its estimated recoverable reserves of 5-8 billion barrels of light crude, but mainly because the company’s application of what our trusted source describes as its “wildcat” early-production model should establish by 2010 the commercial viability of the...
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