H. Yoo
Research expert covering South Korea
Oil and gas industry in Brazil - statistics & facts
Brazil is the largest oil and gas producer in Latin America. The country holds significant reserves deep underground off the coast of Rio de Janeiro and São Paulo. In fact, Brazil was found to have the deepest oil reserves still deemed recoverable. Offshore exploration began in 2006 by the state-owned multinational company Petrobras and has become a boon for the country’s oil industry. Today, more than 90 percent of oil in Brazil is produced offshore.
