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With immense reserves and a rapidly growing economy, Guyana is emerging as South America's new oil powerhouse
It seems that the Brazil and its giant Petrobras are about to face a unexpected competition in the oil sector. The person responsible? A small south american country, Guyana, which has attracted worldwide attention after the discovery of a deposit with more than 11 billion barrels of oil in 2015. This potential places Guyana in a privileged place on the map of fossil fuel exploration and, with it, speculation arises about a possible ousting of Brazil as the continent's oil leader, according to the website revistaforum.
ExxonMobil's explosive growth and impact
With just over 800 thousand inhabitants, the Guyana has experienced a impressive economic growth since ExxonMobil revealed the region's immense oil reserves in 2015. This milestone was a game-changer: the small nation, previously focused on a modest economy, began to receive massive investments, attracting companies from the oil and gas sector. oil exploration and mining technology and consolidating the country as one of the most dynamic economies today.
It is estimated that by 2030, Guyana will be able to achieve a production of more than 1 million barrels of oil per day, surpassing even Brazil in exports and consolidating its place among the main powers in the sector. And look how interesting: this increase in production capacity, combined with strategic partnerships and fast-paced infrastructure, has everything to transform Guyana into a global export hub.
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Challenges and opportunities: the return of migrants
This boom in production brought with it an urgent need for complicated labor , something that Guyana cannot surprise with its current population. Many young Guyanese, who years ago migrated in search of better opportunities, have now started returning home. The government created a remigration program that offers financial and logistical support to citizens who wish to contribute to the country's development. Data indicate that, since the first discoveries of oil, more than 30 Guyanese returned to the country .
For an economy that not long ago struggled to attract investment, this is a turnaround that has not only raised local labor as well as improving the well-being of its inhabitants.
Petrobras and Brazil: prepared for new competition?
While Guyana is growing rapidly in the oil sector, the Brazil and its giant Petrobras observe the scenario with caution. Although Brazil has a robust and consolidated production of around 3 million barrels of oil per day, the rise of Guyana has raised an alarm in the sector. It is worth remembering that Brazil's pre-salt layer is still one of the largest sources of reserves on the continent, but with Guyana's infrastructure developing rapidly and solid international partnerships, the balance of power may be at stake.
Market analysts point out that if Guyana's growth continues at its current pace, it will be able to compete directly with the sector's main exporters in South America. This economic transformation is already attracting the attention of investors and experts from various parts of the world., which predict a significant impact on the region's export dynamics.
A new oil power in sight?
Guyana appears poised to transform its future and, in turn, the global oil market. With potential that promises to challenge Brazil's leadership, small south american nation now envisions a prominent role in the international market. The big question remains: will Brazil be ready to face this new competition and adapt to a scenario where leadership in South America may change?
This story is just beginning, but one thing is certain: the race for oil in South America is fiercer than ever.
How will Petrobras compete with so much incompetence? Corruption as a job hanger?
You're delirious, bro. Are you aware that the first company to try to drill the pre-salt was Shell, but they couldn't do it because they didn't have enough technology. And the "incompetent" Petrobras developed the technology and is a pioneer in ultra-deep water exploration. One of the most awarded oil companies in the world in technology. You must be the one who is incompetent in seeking information (ignorance) 🤣🤣🤣🤣🤣🤣
Listen up, man! You're speaking like a colonized person, repeating the mantra of the colonizers, eager to get their claws on the company that developed and holds the best technology in the world for deep-sea exploration. Misinformation generates this mongrel syndrome.
What do you mean by job hanger? I worked at Petrobras for 33 years. I've never seen anything like that. I worked in several segments, actively participating in large and landmark pioneering projects in the world. 1 well discovered oil in the Amazon, 1 well with underwater head and BCS, 1 well with redundant PDG,
The hanger he is talking about is not about workers, but about comrades who do not know what work is.
Today, the company's reality is far from this narrow-minded and irrational idea put forward by the media and the Lava Jato investigation. The company's technical staff is excellent and very in tune with market reality. Today, the biggest concern is the delay in starting exploration in the equatorial belt, which is still stuck in environmental licensing. This approval is crucial to ensure that the country does not have to import oil again after 2030.
Petrobras is “ours”!
From shareholders and unions, less from the Brazilian people.
It's very interesting, we have oil at the mouth of the Amazon and we can't explore it due to environmental licensing, now I ask you what the unexplored wealth is worth, given that nearby the activity is in full swing. Wake up Brazil!!!!
You're joking, those 11 billion you're talking about aren't even 10 percent of the pre-salt reserves, and our Marlin field alone is three times bigger.
Apart from the other Petrobrás fields.
This is the true Tupiniquim mongrel feeling that affects the Brazilian nation.
That's a lie, I live in Guyana and there is more oil here than the whole of Brazil, it's no wonder that Venezuela wants to annex Ezequibo.
Stop talking nonsense
NEXT US WAR WILL BE IN GUYANA
There was no need for influence, because in order to pay for the massive American aid on Monday, it handed over several points of influence with Guyana and Singapore, among others, and the article itself says that Exxon is the one that explores in the broadest sense of the word, will take all the oil and leave the environmental liability behind. At the end of its life, it sells the fields at a bargain price, and whoever buys them goes bankrupt and does not destroy the wells, costs close to exploration. It buys half a dozen politicians and leaves crumbs for the population that has always been simple but lived well. Then comes consumerism, banditry and all the problems of poor countries and a few dominant in the governments, in the media, in the judiciary and mainly in the armed forces and police to keep the population quiet. They earn a lot, but they are relatively few compared to the mass of exploited people who thank God for their beloved country and their family.
As for oil, which is exported, due to the fact that the country has a small consumption (800 thousand inhabitants), what remains for the people and the Nation are the large taxes, which will make a Nation rich.
We live in a state where poverty reigns! Oil and gas exploration would be a new milestone for our state, bringing hope and development to the people of the state of AMAPÁ! Petrobras has shown that exploration is possible safely!