News
Brazil sets date for pumping oil
Friday 09 May 2008
Brazil is set to become a "large oil exporter", according to the country's president.
It has widely been reported that a large oil find had been made in Brazil, although it remains unclear just how big it is.
Clearly president Luiz Inacio Lula da Silva believes that it is very large, describing it to German weekly magazine Der Spiegel as "immense".
He revealed that he hopes to see the oil being mined by 2010 and this will be great news for the Brazilian economy.
With this in mind, many people may consider buying an investment property in Brazil to cash in on an economy that looks destined for rapid growth.
"We have the know-how needed to exploit them," the president told the magazine.
"We want to begin test drilling in March and start pumping oil from 2010.
"Brazil will then become a large oil exporter. We want to join OPEC and try to make oil cheaper," he added.
Many people choose to buy investment properties in Brazil as the economy is already doing well.
It has widely been reported that a large oil find had been made in Brazil, although it remains unclear just how big it is.
Clearly president Luiz Inacio Lula da Silva believes that it is very large, describing it to German weekly magazine Der Spiegel as "immense".
He revealed that he hopes to see the oil being mined by 2010 and this will be great news for the Brazilian economy.
With this in mind, many people may consider buying an investment property in Brazil to cash in on an economy that looks destined for rapid growth.
"We have the know-how needed to exploit them," the president told the magazine.
"We want to begin test drilling in March and start pumping oil from 2010.
"Brazil will then become a large oil exporter. We want to join OPEC and try to make oil cheaper," he added.
Many people choose to buy investment properties in Brazil as the economy is already doing well.