Latinnews Daily - 12 August 2004

Development: An equilibrium between production and consumption of oil in Brazil will be achieved by the end of next year, according to Guilherme Estrella, Exploration and Production director of the Brazilian state oil company Petrobrás. Estrella said in an interview with O Estado de São Paulo on 11 August that the company's board had reached a consensus to achieve this target. Previous estimates put the date at mid-2006.

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