Refining Community Logo

RE: Update Petrobras surge – Carioca field 33B crude BBL prospects

Home Forums Refining Community Refinery News Update Petrobras surge – Carioca field 33B crude BBL prospects RE: Update Petrobras surge – Carioca field 33B crude BBL prospects

#6931

Charles Randall
Participant

While there is no official confirmations yet – Petrobras Carioca offshore field may contain 33B barrels crude making it 3rd largest world and over 2X size of Brazils recent upgraded Tupi field 12-30 B barrels crude (~8 B recoverable).
 
It will significantly reduce the amount of import crude Brazil is going to need (Sorry Chavez – this 33B would supply every refinery with crude for 6 years for comparison)!
 
Petrobras now owns Pasadena (Crown) Coking Refinery & has been slated to receive some of the heavy offshore Brazil crude. And crude supply from this new Brazil offshore field would give Petrobras a distinct advantage over competitors for purchase of Valero’s Aruba refinery now up for sale. Additionally it is going to make it hard for PDVSA/ Chavez to negotiate one-sided terms on the new northern Petrobras Refinery in construction that is JV / linked to new Venezuelan Upgrader for crude half supply.
Regards

Refining Community