Oil Production: 2.59%!

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Oil Consumption: 2.71%!
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As of June of 2015, Brazil is ranked 9th for Oil Producing Countries and is also in the
Top 20 Oil Consuming Countries. Global demand for oil and natural gas presents an
exceptional opportunity for Brazil. This demand puts billions of dollars into the economy
as a major exporter of oil. Currently Shell Oil has bought the drilling rights to five
different fields. According to Elizabeth Johnson, head of Brazils business consulting
practice for Trusted Sources - It could breathe new life into the local supply chain. The
oil being produced in Brazil currently has significantly increased the economy and its
middle class which places Brazil among the fastest growing countries in the world. This
gives them more leverage and guarantees them a better position in global governance.
Brazil is ranked 17th in the world in terms of oil reserves. The recent discovery of large
reserves has increased its stock price by more than 19%. The Brazilian Petroleum
Institute estimates that the country has probable reserves of 60-80 billion barrels.
These additional reserves will improve the quality of life for every Brazilian.!

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1. As the discovery of more oil reserves have increased, how will the government of
Brazil use the financial profits to improve the life of everyday citizens?!

2. Petrobras which is the state-owned oil firm in Brazil has been involved in a great deal
of scandal recently. It has lead to the bankruptcy of four partner firms whose executives
were implicated in money laundering and accounting fraud. How will the government
keep better control to make sure that this type of scandal does not happen again?!

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