Brazil's Tupi Oil Field

Discussion in 'Trading' started by PohPoh, Apr 25, 2008.

  1. I mean, who gives a fuck..

    8 billion barrels
    85 million barrels a day

    94 days of global supply...

    Am I missing something?
  2. achilles28


    Its ramifications are economic.

    At 100 per barrel, thats 800 Billion revenue for Brazil.

    A good chunk of that will go towards foreign equipment and foreign expertise...

    But yea, I see your point.
  3. grendel


  4. Pekelo


    That is still only a year's world supply....
  5. grendel


    mmm...I'm guessing that's not a very good measurement for the size of an oil field.

    Ghawar Field in Saudi Arabia, the world's largest field at 71 billion barrels, 'only' has about 2.2 years of global supply(or had at one point in time).
  6. yeah..but ghawar was discovered in 1948 when consumption was ridiculously less than it is now...
    but I see your point...
  7. Pekelo


    The point is that we NEED to find a field like this 2nd Tupi EVERY year from now on, and that is just not happening...

    And yes, when Ghawar was found, it had probably 10-20 years of world supply in it.
  8. achilles28


    I was serious, brah.
  9. Yes...I know..and you are right...
    the economic ramifications for Brazil are huge...

    I was just thinking in terms of production/consumption..
  10. Ah, Mr. Peak Oil

    But if it adds 5% capacity to the world's oil for 20 years, then it will take pressure off pricing.
    #10     Apr 25, 2008