Brazil’s Petrobras has high hopes for the country’s oil industry, even under socialist President Luiz Inácio Lula da Silva, as it makes moves that suggest it is in it for the long haul. The state-owned oil major has plans to transform Brazil’s global energy presence, which includes boosting its oil output, solidifying new European partnerships and plans to develop new projects. Brazil was the ninth-largest oil-producing country in the world last year, with an average output of 3 million bpd, growing by 4 percent from…
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