Brazil’s Oil Dilemma: Dwindling Reserves and the Need for Equatorial Exploration

Brazil faces a critical decision regarding its petroleum future. Without new discoveries, the country may become a net oil importer within a decade. This shift could significantly impact Brazil’s energy independence and economic stability. Currently, Brazil produces 3.47 million barrels of oil daily, totaling 1.2 billion barrels annually. With proven reserves of 15.9 billion barrels, […]