Brazil discovers World's 3rd-largest oil and gas reserves

Brazil's state-owned Petrobras, BG Group and Repsol have discovered what could be the world's third-largest oil and gas reserves, Haroldo Lima, director of the National Oil and Gas Agency (ANP), which regulates the sector in the country, said on Monday.

The seminar, at Getulio Vargas Foundation in Rio de Janeiro, Lima stressed that the information was not released "officially" yet.

He added that, if confirmed, in the field, with an estimated volume of 33 billion barrels, in the deep waters in the Santos Basin, in south-eastern Brazil property, will be the world's largest oil and gas discoveries in the last 30 years.

According to the director of ANP, in the field, temporarily named "Sugar Loaf", in connection with the Rio landmark, will be five times greater than the Tupi, the giant field discovered in November 2007.

Tupi is known as the largest oil and gas reserve ever found in Brazil property, bearing an estimated volume of 5-8 billion barrels of light oil.

Petrobras' press office has not confirmed the discovery yet, but informed that the Sugar Loaf field is located in block BMS-9 of the Santos Basin, west of the BMS-11, where Tupi was discovered.

ANP added that the field could not be classified as an "exploitation field" because it has not been declared commercially useful. The first trace of the existence of oil and gas in the field, located in the pre-salt layer, was found in August 2007, but members of the consortium have not issued any prospects of its total volume so far.

The new field is also close to block BMS-24, where Petrobras voiced at the beginning of this year to have discovered Brazil's largest natural gas reserve, in the Jupiter field.

SCOR gets admitted status in Brazil

SCOR, based in Paris, said in a recent report he is going to add a victim, surety, aviation and marine reinsurance in its current victims optional, property treaty, agriculture and engineering reinsurance in Brazil property.

As part of its expansion in Latin America, the reinsurer also completing the formalities for SCOR Global USA life again Insurance Co to operate as an insurer admitted in Brazil.

Amazon Ghost Highway to Be Brought Back to Life

BR-319, a road blazed 35 years ago through the heart of the Amazon jungle and now impassable due to neglect, has sparked a new battle between environmentalists and the Brazilian property authorities, who have decided to rebuild it.

Officials defend economic integration in the central Amazon and in the south central part of Brazil, that will bring benefits to the local population. But environmentalists say reparations roads lead to further deforestation and new waves of migration towards the northern city of Manaos, which is already suffering from a serious urban problems and conflicts due to the increase in the surrounding lands.

The dispute was caused by the proposal to replace the highway to the railroad, which cost-effectiveness studies had been carried out and that will mean much less deforestation, according to Virgilio Viana, which outlines alternative as secretary of the environment and sustainable development in the northwestern state of Amazonas , a post he resigned March 3, the head of the Fund's sustainable Amazon.

In 885 - km road Porto Velho, capital of Rondonia state on the border with Bolivia, from Manaos, capital of Amazonas, the Brazilian property state with the most vast stretches of virgin jungle.

The restoration of road and should be completed by 2011, said the Ministry of Transport, whose chief, Alfredo Nascimento, Manaos was mayor from 1997 to 2004. The estimated cost is 700 million reals (about $ 400 million).

Railroad, in contrast, would cost three times as much, but would avoid the emission of gases responsible for climate change by reducing deforestation, which would allow Brazil property to receive abundant carbon credits on the international market, Viana told Tierramérica.
In deforestation projected as a result of rebuilt highway reaches 168000 square kilometers by 2050, an area comparable to the size of neighboring Uruguay, according to the study, the Brazilian team led by Britaldo Soares of the Federal University of Minas Gerais.

Brazil becomes number 1 market in EU among Latin American countries

According to a Latin Business Chronicle analysis of 2007 trade data from Eurostat, Brazil has replaced Mexico as the European Union's top market in Latin America. Meanwhile Latinamerica trade with the European Union continues to soar at faster rate than with the United States, the analysis shows.

"That's not surprising since the European economies keep growing, while the United States is slowing down," says Isaac Cohen, president of US-based consultancy Inverway and a former director of the Washington office of the United Nations Economic Commission for Latin America and the Caribbean (CEPAL).

EU trade with Latin America increased by 11.5% in 2007 to record of 160 billion euros equivalent to 245 billion US dollars. EU exports to Latin America top 71.4 billion euros, up 12.8%, while EU imports from Latin America grew by 10.5% to 88.6 billion euros.

That means Latin America trade with the EU is growing nearly twice as much as its trade with the United States, which only grew by 6.2% last year.

EU also continues to have a much smaller trade deficit with Latin America than the United States: last year it reached 17.3 billion euros (US$ 26.5 billion), up 1.7% from 2006. By comparison, the US deficit reached US$ 100.5 billion. However, the EU still lags the US in terms of total trade with Latin America.

Last year's EU trade with the region was less than half of U.S.-Latin America trade.

Sao Paulo considered a good investment option

Sao Paulo, the largest city in Brazil, good enough to become a country, is also ranked as one among the largest 50 in the world. The property market in Brazil is the main gearing force behind its foreign investment.

According to a report conducted by the Federation of Commerce in the State of Sao Paulo, honoring the rating of the city as the largest in South America, the report outlines the importance of the city of Sao Paulo throughout the world.

The Economic Advisor at Fecomercio, Julia Zimenes, said, "It is necessary to consider the difference between the countries. When a city with 11 million inhabitants in a developing country, is compared to a small country such as New Zealand, with smaller population (4 million) it appears more difficult. However, it is really to show the splendor of the city.

Making use of the GDP in dollars is a way of providing this grandeur empirically."

Brazil has evolved as a new real estate market for investors, and Sao Paulo, was not left behind. All through the region, there is a huge growth in value terms, except for the tourist market here. Beachfront properties remain in high demand, but on the housing markets in cities like Sao Paulo are still appreciated by foreign investors.

Brazilian real estate market is hard to surpass

An industry expert said that in the real estate market in Brazil, "it is difficult to surpass."

Jamie Strong property rights expert, speaking in the media about the emerging market of real estate in Brazil, said: "The one thing that would really help Brazil, where mortgages are available to foreigners. This will be a truly open market."

Jamie also appreciates the range of equipment available in Brazil, and the ease with which the property could be purchased in the Latin American nation.

President of the Association for the Brazil real estate and tourism development in the north-eastern Brazil (Adit), Felipe Cavalcanti shows impressive features of the country to potential investors. About 97 per cent of international tourists who visited Brazil back, and stresses at work that makes Adit in the direction of strengthening ties with the business community in the area. It also provides a "one-stop shop for foreign investors who can purchase properties to" share of the cost "in Brazil.

According to Felipe, the capital of the real estate in the north-eastern Brazil, is expected to pick up by 30 percent. Brazilian Institute of Tourism reported that tourism in Brazil is growing at a rate 7.2 per cent.

Brazil is one of the top five Latin American property markets

In addition to the advantages for attracting tourists with its sun and sand, Brazil also attracts tourists with its part of an active public policy. Brazil, as one of the top five Latin American properties worth investing as offers many opportunities for increased economic growth and the value of property. There are many advantages that Brazil offers to encourage such investment.

The Brazilian Government is strongly encouraging foreign investors to develop most underdeveloped and highly desired locations such as beach resorts in Brazil. Moreover, the surplus of housing in Brazil, pointing to the flourishing economy, property investments will be strong growth.

Investors are of the opinion that Brazilian real estate market has plenty to offer for all kinds of investors. There is a sure possibility of growth for the next five to seven years, according to The Economist magazine.

During the past several years, Brazilian citizens have seen a transformation taking place in terms of economy and credit markets. More number of people are in a position to acquire affordable housing. The Brazil properties are very valuable and desirable to the investors with several outstanding developments. Apart from this, the Brazil housing market has also received a support, with more number of people being qualified for credit.

According to The Economist, Brazil is a safe investment option, when it comes to property, heading forward into a global economy slowdown. International companies are investing millions of dollars in most areas, to help fund the growth in Brazil.