Study: Brazil must further restructure its energy sector

Brazil's energy sector needs further restructuring to meet its domestic oil needs, said Rice University's Baker Institute for Public Policy in a recent study. The report indicated that the country's domestic oil demand could rise as much as 1-4%/year during 2004-15, offsetting the country's 1 million b/d of oil production increase that resulted from energy reforms in the 1990s.Prior to those reforms, Brazil had been a major oil importer.Despite the progress, however, demand in the largest country in South America once again will exceed production if it simply maintains the status quo. "Without more restructuring of its energy sector, Brazil might have difficulty ensuring t...

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