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Brazil’s New Oil Frontier Could Keep Its Boom Alive For Decades

Brazilian President Luiz Inácio Lula da Silva has hailed a new offshore oil discovery by Petrobras (NYSE: PBR) near the mouth of the Amazon River as a "passport to the country's future", continuing…

  • Brazil discovers 20-30 billion barrels of oil at Morpho-1 well in Amazon's mouth.
  • President Lula da Silva sees oil as economic boost while pursuing renewable energy.
  • Equatorial Margin's geological profile similar to lucrative Guyana and Suriname fields.

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