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Brazil expects $400 bln from Libra offshore oil area over 30 years
RIO DE JANEIRO, Sept 17 | Tue Sep 17, 2013 1:03pm EDT
(Reuters) - Brazil's government expects to receive about 900 billion reais ($400 billion) in royalties and oil revenue over 30 years from the offshore Libra area that it expects to sell at auction in October, the head of Brazil's oil regulator ANP said on Tuesday.
Of that, about 300 billion reais will be in royalties and the other 600 billion reais from the sale of the government's share of oil from the project, ANP chief Magda Chambriard told Brazilian senators at a hearing in Brasilia.
1. The Brazilian economy a little while ago overtook the UK economy as the 6th biggest economy in the world. Not sure if it's stayed that way.
Brazil however will only grow more quickly whereas the UK won't. Brazil is also much larger and bigger than the whole of Europe.
2. Brazil's economic rise will also increase her political, military and diplomatic influence.
3. Brazil, unlike its highly aggressive regional neighour to the north, the USA, is a moderate and respectable state and has worked with others in the international community to reign in American aggression, bullying and troublemaking e.g. trying to help resolve the Iran crisis.
RIO DE JANEIRO, Sept 17 | Tue Sep 17, 2013 1:03pm EDT
(Reuters) - Brazil's government expects to receive about 900 billion reais ($400 billion) in royalties and oil revenue over 30 years from the offshore Libra area that it expects to sell at auction in October, the head of Brazil's oil regulator ANP said on Tuesday.
Of that, about 300 billion reais will be in royalties and the other 600 billion reais from the sale of the government's share of oil from the project, ANP chief Magda Chambriard told Brazilian senators at a hearing in Brasilia.
1. The Brazilian economy a little while ago overtook the UK economy as the 6th biggest economy in the world. Not sure if it's stayed that way.
Brazil however will only grow more quickly whereas the UK won't. Brazil is also much larger and bigger than the whole of Europe.
2. Brazil's economic rise will also increase her political, military and diplomatic influence.
3. Brazil, unlike its highly aggressive regional neighour to the north, the USA, is a moderate and respectable state and has worked with others in the international community to reign in American aggression, bullying and troublemaking e.g. trying to help resolve the Iran crisis.