Brazil

A series of successful discoveries in the Espírito Santo Basin demonstrate Brazil's substantial light oil potential. According to a recent statement by the state-owned oil giant Petrobras ' general manager for exploration, Jonilton Pessoa, six of seven wells drilled found gas and up to 900mn barrels (bbl) of light oil, in a region that is traditionally ignored for the oil resources of the Campos and Santos Basins to its south.

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