Brazil found third biggest oil reserve in the world

National Petroleum Agency(NPA) has said that with this new found Brazil is about to surpass U.S in oil reserve, currently according to the US Energy Department, Brazil’s existing proven oil reserves total 11.8 billion barrels, while the US holds 21.8 billion. The new discovery can give Petrobras 33 billion barrels in reserve.

The results are not finalized yet, more test are required to find out the scale of the reserve, if confirmed the coast of Rio de Janeiro would be the third-largest oil field in the world according to NPA.

In the NPA you can find an explanation for the statements made by the director-general of the ANP about the discovery:
# The comments made by the Director-General of the ANP were official, as published by various media.
# All information already was of public knowledge, and was even published in the February edition of the journal World Oil, column What’s new in exploration, signed by Arthur Berman.
To read the rest of the explanation go to ANP website.