In Brazil, Equinor Aims To Repeat Norway's Oil Boom

[Sofia + 35]

Norway’s Equinor will invest up to $15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.

The company plans to raise its Brazilian output to between 300,000 and 500,000 barrels of oil equivalent per day by 2030, from 90,000 boepd today by developing new fields, including the giant Carcara discovery.

[Jo Mack + 43]

Brazil is heading down the same path as Venezuela.  Any investment in Brazil is like loaning money to a friend.  Never expect to get it back.

[John Foote + 1,135]

Don't confuse a country doing poorly with the ability to make money in said country. The Norwegians are not fools and this isn't a charity move. And Brazil did manage to convict a president over corruption. The Venezuelans in power today wouldn't let that happen.