There are salt layers similar to, but not as thick as, the pre-salt of Brazil.
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Frade would literally be a drop in the ocean compared to a pre-salt tsunami.
Head down to Brazil, and the scale of pre-salt finds have been enormous for Petrobras (700 million barrels in the Campos Basin alone).
The amount of reserves in the pre-salt (Santos Basin, Atlantic Ocean) are impressive, but the matter is when and how these new oil prospects will materialize.
Gabrielli had been appointed by former president Lula Da Silva and has led Petrobras from 2005 and through the important discovery of the highly valuable pre-salt fields.
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Since Petrobras will have its hands full operating the pre-salt fields, the state wants to ensure that the company does not lose its edge in the energy industry.
Both pieces of legislation tie into the second objective of giving the state more direct access to the oil windfall while giving Petrobras a monopoly in pre-salt production.
Brazilian oil-giant Petrobras, which has the state as one of its major shareholders, pushed its way into center stage after discovering pre-salt fields off the coast of Brazil.
Beyond its production update, Chevron made headlines on Wednesday as it once again won permission from Brazilian regulators to drill in their pre-salt fields off the coast of Rio.
To this end, the National Congress approved legislation calling for the creation of a social fund that will receive 50 percent of pre-salt oil revenues to support state-run socioeconomic programs.
Officials, including Mr Gabrielli, argue that since drilling in the pre-salt is now almost certain to yield oil, the rewards for investors in new blocks should reflect this lower exploration risk.
Not only will Brazil need financial commitments from serious partners to develop its pre-salt oil reserves, but it will also have to significantly upgrade its national infrastructure if it seeks to enter the global market on competitive footing with advanced industrial economies.
Since the federal government technically owns the reserves, the plan calls for the government to transfer 5 billion barrels of pre-salt oil reserves to Petrobras in exchange for shares in the company, thus allowing Petrobras to sell more shares to help finance its work.
While it may seem redundant for Petrobras to invest in a company with a substantially smaller pre-salt operation in Brazil, analysts for Bloomberg explained that the deal might be a way for Petrobras to indirectly fund deep sea projects it operates via joint-ventures with Galp.
The government has also arranged for Petrobras to be the primary operator of all pre-salt oil fields and to have a minimum 30 percent stake in all pre-salt joint ventures, an arrangement that is still competitive in relation to other major oil-producing states like Nigeria and Venezuela (and without the high militant and political risk).
But we are willing to build a great partnership in the field of energy, either what refers to the exploration of the pre-salt deep oil reserves, as also the explorations of renewable sources of energies and clean energy that could guarantee for all mankind and for the humanity and for Brazil and for the U.S. a better improvement of its development in a sustained way.
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In September, Hungary will introduce a tax on pre-packaged foods containing high salt and sugar content, such as crisps and chocolates.
We've officially entered the silly season of pre-CES rumors, so take this with a grain of salt, but the Wall Street Journal reports Sony has approached "several big media companies" about distributing their channels over the internet.
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The bad news is that there are persistent leaks to the effect that these Shermanesque statements are to be taken with the same grain of salt as Mr. Bush's declared determination pre-election to keep Donald Rumsfeld at the Pentagon for the duration of his term.
Founded by a guy named Mark Newman when he was just 20 years old and fresh out of Westminster college in Salt Lake City, HireVue provides one-way video interviews where candidates respond to pre-set questions without a live person on the other side.
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