While many Latin American countries have seen their oil production dip, Brazil’s state-controlled Petrobras — the biggest company in Brazil — is working to access the billions of barrels of crude oil that rest beneath the country’s waters over the next few years.
The company’s 48,986-ton P-51 oil platform rests over a hundred miles off the coast of Brazil and is the first semisubmersible platform built entirely in Brazil. It may produce up to 180,000 barrels of oil a day — if the global financial crisis doesn’t necessitate a change in plans.
Worldfocus correspondent Edie Magnus and producers Bryan Myers and Megan Thompson report from Angra dos Reis, south of Rio de Janeiro, on Brazil’s unfolding role as oil giant.
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