Brazil-Oil Industry Booming.

BRAZIL.

EXPORTS OF 620,000 BARRELS OF OIL PER DAY.

Brazil the worlds largest exporter of beef, chicken, sugar, coffee and the worlds second largest exporter of soy, wheat, pork and ethanol is now exporting 620,000 barrels of oil per day since the new fields came on line in November.

Brazilian state oil company Petrobras, exported in December a record 620,000 barrels of crude oil a day.

The new record was 46,000 barrels per day, more than the previous one set in October 2008.

Decembers oil exports contributed US$574 million to the monthly trade balance.

Brazils recent offshore discoveries of oil and gas, along its southern coast will turn Brazil in to one of the worlds leading oil exporters.

Exploration platforms are working 24 hours per day off the coast on Chile and Argentina in the South Atlantic.