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Driven by pre-salt, oil becomes Brazil's top export

Revenues

The discovery of the pre-salt was so significant for Brazil's oil production potential that it led the government to change the regime that authorized companies to explore the submerged resources.

As a result, the pre-salt areas are governed by the sharing regime. Under this model, surplus oil production—the balance after covering costs—is divided between the company and the Brazilian government. During the auction that authorizes exploration, the company offering the highest share of profits to the federal government is granted the right to explore.

This is distinct from the concession model, which applies to the post-salt period. In this system, the risk of investment and exploration lies with the concessionaire, who becomes the owner of all the oil and gas that may be discovered. In return, the company pays royalties and special participation fees, particularly for large production fields, in addition to a signature bonus upon winning the auction.

New frontiers

With the pre-salt expected to reach its peak in the 2030s, Brazil's oil industry, led by Petrobras, is shifting its focus to new oil frontiers that are believed to hold significant production potential.

One such frontier is the so-called equatorial margin, located off Brazil's northern coast, where exploration is pending a favorable decision from the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama), an agency under the Ministry of the Environment and Climate Change.

Another promising region is the Pelotas Basin, located off Brazil's southern coast. The growing interest in this area is fueled by the discovery of oil wells in Uruguay and off the coasts of Namibia and South Africa. Experts suggest that the geological conditions in these regions are similar, as the continents were once joined tens of millions of years ago.

According to Petrobras, the company plans to invest $79 billion in exploring new oil and gas frontiers by 2029. Of this amount, 40 percent will be allocated to the South and Southeast regions, 38 percent to the equatorial margin, with the remainder directed towards other countries.

From MOURA, Bruno de Freitas. Driven by pre-salt, oil becomes Brazil's top export. Rio de Janeiro, Agência Brasil, Jan 18th,2025. Accessed on February 21st, 2025

O texto seguinte servirá de base para responder a questão.

Mother Goose and Grimm cartoon, by Mike Peters 

O texto seguinte servirá de base para responder à questão.

                                                    Mother Goose and Grimm cartoon, by Mike Peters

O texto seguinte servirá de base para responder à questão.

                                                      Mother Goose and Grimm cartoon, by Mike Peters

O texto seguinte servirá de base para responder à questão.

Texto 2

Driven by pre-salt, oil becomes Brazil's top export

Revenues

The discovery of the pre-salt was so significant for Brazil's oil production potential that it led the government to change the regime that authorized companies to explore the submerged resources.

As a result, the pre-salt areas are governed by the sharing regime. Under this model, surplus oil production—the balance after covering costs—is divided between the company and the Brazilian government. During the auction that authorizes exploration, the company offering the highest share of profits to the federal government is granted the right to explore.

This is distinct from the concession model, which applies to the post-salt period. In this system, the risk of investment and exploration lies with the concessionaire, who becomes the owner of all the oil and gas that may be discovered. In return, the company pays royalties and special participation fees, particularly for large production fields, in addition to a signature bonus upon winning the auction.

New frontiers

With the pre-salt expected to reach its peak in the 2030s, Brazil's oil industry, led by Petrobras, is shifting its focus to new oil frontiers that are believed to hold significant production potential.

One such frontier is the so-called equatorial margin, located off Brazil's northern coast, where exploration is pending a favorable decision from the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama), an agency under the Ministry of the Environment and Climate Change.

Another promising region is the Pelotas Basin, located off Brazil's southern coast. The growing interest in this area is fueled by the discovery of oil wells in Uruguay and off the coasts of Namibia and South Africa. Experts suggest that the geological conditions in these regions are similar, as the continents were once joined tens of millions of years ago.

According to Petrobras, the company plans to invest $79 billion in exploring new oil and gas frontiers by 2029. Of this amount, 40 percent will be allocated to the South and Southeast regions, 38 percent to the equatorial margin, with the remainder directed towards other countries.

From MOURA, Bruno de Freitas. Driven by pre-salt, oil becomes Brazil's top export. Rio de Janeiro, Agência Brasil, Jan 18th,2025. Accessed on February 21st, 2025 

O texto seguinte servirá de base para responder à questão.

Texto 2

Driven by pre-salt, oil becomes Brazil's top export        

Revenues

The discovery of the pre-salt was so significant for Brazil's oil production potential that it led the government to change the regime that authorized companies to explore the submerged resources.As a result, the pre-salt areas are governed by the sharing regime. Under this model, surplus oil production—the balance after covering costs—is divided between the company and the Brazilian government. During the auction that authorizes exploration, the company offering the highest share of profits to the federal government is granted the right to explore.

This is distinct from the concession model, which applies to the post-salt period. In this system, the risk of investment and exploration lies with the concessionaire, who becomes the owner of all the oil and gas that may be discovered. In return, the company pays royalties and special participation fees, particularly for large production fields, in addition to a signature bonus upon winning the auction.

New frontiers

With the pre-salt expected to reach its peak in the 2030s, Brazil's oil industry, led by Petrobras, is shifting its focus to new oil frontiers that are believed to hold significant production potential.

One such frontier is the so-called equatorial margin, located off Brazil's northern coast, where exploration is pending a favorable decision from the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama), an agency under the Ministry of the Environment and Climate Change.

Another promising region is the Pelotas Basin, located off Brazil's southern coast. The growing interest in this area is fueled by the discovery of oil wells in Uruguay and off the coasts of Namibia and South Africa. Experts suggest that the geological conditions in these regions are similar, as the continents were once joined tens of millions of years ago.

According to Petrobras, the company plans to invest $79 billion in exploring new oil and gas frontiers by 2029. Of this amount, 40 percent will be allocated to the South and Southeast regions, 38 percent to the equatorial margin, with the remainder directed towards other countries.

From MOURA, Bruno de Freitas. Driven by pre-salt, oil becomes Brazil's top export. Rio de Janeiro, Agência Brasil, Jan 18th,2025. Accessed on February 21st, 2025

O texto seguinte servirá de base para responder à questão.

                                                    Mother Goose and Grimm cartoon, by Mike Peters

O texto seguinte servirá de base para responder a questão.

Mother Goose and Grimm cartoon, by Mike Peters 

O texto seguinte servirá de base para responder a questão.

Mother Goose and Grimm cartoon, by Mike Peter

Biden administration, in its last days, proposes new protections for Arctic Alaska land

Lakes and connecting streams in the northeastern part of the National Petroleum Reserve in Alaska, June 2014.

Four days before President Joe Biden is set to leave office, his administration recommended that about 3 million more acres in Alaska's western Arctic be protected from development and issued a guideline, effective immediately, requiring additional protections for traditional Native subsistence harvests of fish, caribou and other resources.

The new recommendations and guidance, which apply to the 23-million-acre National Petroleum Reserve in Alaska, run counter to President-elect Donald Trump's expressed plans to expand oil drilling in the Arctic and elsewhere and to overturn Biden administration environmental policies more broadly. 

The recommendations for additional land to be protected as part of what are termed "special areas" and the guidance for elevating the importance of subsistence and tribal consultation could be ignored or scrapped by the incoming Trump administration.

The northeastern part of the reserve is the area considered most likely to hold oil and where development has spread in recent years. There is already production in that area, and the most notable production expected in the future is from ConocoPhillips' Willow project. Willow won Biden administration approval in 2023. Production is expected to start by the end of the decade and peak at 180,000 barrels per day; current production from all North Slope fields amounts to less than 470,000 barrels per day. 

Like the existing Teshekpuk special area, which holds important habitat for caribou, fish and migratory birds, the village of Nuiqsut is in the general area of the reserve's northeastern corner, where new oil development has occurred. Nuiqsut is so close that oilfield infrastructure can be seen from the village. 

Pipelines extend across the landscape outside Nuiqsut, Alaska, May 2019. 

"But at the same time, I think we and our partners have also made it abundantly clear that we're going to keep fighting, and keep fighting for protections in the Western Arctic," she said. 

(From ROSEN, Yereth. Biden administration, in its last days, proposes new protections for Arctic Alaska land, Alaska Beacon, January 17, 2025. In

alaskabeacon.com/2025/01/17/biden-administration-in-its-last-days-pro poses-new-protections-for-arctic-alaska-land/, accessed on February 19th, 2025)

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Mother Goose and Grimm cartoon, by Mike Peters