Petrobras - Milestones

Milestones

• On 19 December 2005, Petrobras announced a contract with the Japanese Nippon Alcohol Hanbai to launch a joint-venture. The project named Brazil-Japan Ethanol would import ethanol from Brazil, in a bid to develop an ethanol market in Japan.
• On 21 April 2006, while on board the Petrobras P-50 oil rig, a floating production storage and offloading vessel, President Luiz Inácio Lula da Silva announced Brazil's self-sufficiency in petroleum,.
• In November 2007, Petrobras announced a discovery of a major new oil field off the coast of Rio de Janeiro. The Tupi oil field in the Santos Basin had an estimated reserve of 5 billion to 8 billion barrels (1.3×109 m3). The figure would put Tupi as the world's largest oil reserve since the discovery of Kashagan in Kazakhstan in 2000. The country's reserves would increase by 62 per cent, and Tupi's reserve would be on par with Norway’s 8.5 billion barrels (1.35×109 m3) of proven oil reserves .
• The Financial Times listed Petrobras as one of the world's 50 largest companies in 2007.
• On January 21, 2008, Petrobras announced the discovery of Jupiter, a huge oil field which could equal the Tupi oil field. It is located 37 km (23 mi) from Tupi, 5,100 m (16,730 ft) below the Atlantic Ocean, 290 km (180 mi) from Rio de Janeiro.
• On April 14, 2008, a second massive oil field was announced in the same region as the Tupi oil field with reserves estimated at 33 billion barrels (5.2×109 m3) of oil.
• On May 21, 2008, Petrobras announced the discovery of a third megafield, located on the coast of the State of São Paulo.
• On May 19, 2009, Petrobras finalized a $10 billion loan from China in return for a ten years long supply of oil (150,000 barrels (24,000 m3) a day the first year, 200,000 barrels (32,000 m3) a day the nine others)