Countries

Brazil
LastUpdated:December29,2014(Notes)
fullreport

Overview
Brazilisthe8thlargesttotalenergyconsumerand10thlargestproducerintheworld.
TheU.S.EnergyInformationAdministration(EIA)estimatesthatin2013,Brazilwasthe
eighthlargestenergyconsumerintheworldandthethirdlargestintheAmericas(North
America,CentralAmerica,theCaribbean,andSouthAmerica),behindtheUnitedStates
andCanada.TotalprimaryenergyconsumptioninBrazilhasincreasedbymorethanone
thirdinthepastdecadebecauseofsustainedeconomicgrowth.ThelargestshareofBrazil's
totalenergyconsumptionisoilandotherliquidfuels,followedbyhydroelectricityandnatural
gas.
PreliminarystatisticsshowBrazilwasthe10thlargestenergyproducerintheworldin2013.
Inaddition,Brazilhasincreaseditstotalenergyproduction,particularlyoilandethanol.
AccordingtotheEmpresadePesquisaEnergtica(EPE),ethanolproductionrepresented
19%ofBrazil'stotalenergyproductioncomparedto15%adecadeago.Oilremainedatan
averageof41%oftotalenergyproductionastotalenergyproductionincreased36%inthe
pastdecade.1 IncreasingdomesticoilproductionhasbeenalongtermgoaloftheBrazilian
government,andrecentdiscoveriesoflargeoffshore,presaltoildepositscouldtransform
Brazilintooneofthelargestoilproducersintheworld.

Source:CentralIntelligenceAgency,TheWorldFactbook

Petroleumandotherliquids
BrazilwasthelargestproducerofpetroleumandotherliquidsinSouthAmericain2013.

Sectororganization
StatecontrolledPetrleoBrasileiroS.A.(Petrobras)isthedominantparticipantinBrazil'soil
sector,holdingimportantpositionsinupstream,midstream,anddownstreamactivities.The
companyheldamonopolyonoilrelatedactivitiesinBraziluntil1997,whenthegovernment
openedthesectortocompetition.RoyalDutchShellwasthefirstforeigncrudeoilproducer
inthecountry,andithasbeenjoinedbyChevron,Repsol,BP,Anadarko,ElPaso,Galp
Energia,Statoil,BGGroup,Sinopec,ONGC,TNKBP,amongothers.Competitioninthe
sectorisnotjustfromforeigncompanies.BrazilianoilcompanyOGX,whichisstaffedlargely
withformerPetrobrasemployees,startedtoproduceoilintheCamposBasinin2011.
Theprincipalgovernmentagencychargedwithregulatingandmonitoringtheoilsectoris
thetheAgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis(ANP),whichis
responsibleforissuingexplorationandproductionlicensesandensuringcompliancewith
relevantregulations.Recentlegislationconcerningpresaltexplorationandproductionhas
changedtheoperatingenvironmentsomewhat.Seethe"PresaltOil"sectionforafull
discussion.

Reserves
EIAestimatesthatinJanuary1,2014,Brazilhad13.2billionbarrelsofprovedoilreserves.
AccordingtoBrazil'soilregulatortheAgnciaNacionaldoPetrleo,GsNaturale
Biocombustveis(ANP),Brazilhad15.6billionbarrelsofprovedoilreservesasofDecember
31,2013,thesecondlargestlevelinSouthAmericaafterVenezuela.Morethan94%of
Brazil'sreservesarelocatedoffshore,and80%ofallreservesarefoundoffshorenearthe
stateofRiodeJaneiro.OffshorethestateofEspiritoSantoheldthenextlargest
accumulationat9%ofcountry'sreserves.2

Productionandconsumption
Morethan91%ofBrazil'soilproductionisoffshoreinverydeepwaterandconsistsofmostlyheavygrades.
In2013,Brazilproduced2.7millionbarrelsperday(bbl/d)ofpetroleumandotherliquids,
2.0millionbbl/dwascrudeoil,and527,000bbl/dwasbiofuels.Petrobrasaccountedfor1.9
millionbbl/dofdomesticcrudeoilandnaturalgasliquids(NGL)production.3 OfBrazil's
crudeoilproduction,morethan91%wasproducedoffshore,ofwhich79%wasdeveloped
nearthestateofRioDeJaneiro,primarilyintheSantosandCamposbasins.Agrowing
shareofproductioniscomingfromBrazil'srelativelyrecentdiscoveryofoildepositsinthe
presaltlayer.In2013,crudeoilproductionfromthepresaltlayerwas303,000bbl/d.This
accountedfor15%oftotalproduction,asignificantincreasefrom0.4%oftotalproductionin
2008whenoilfromthepresaltwasfirstproduced.4
Brazil'sliquidfuelsconsumptioncontinuestosurpassitsproduction.In2013,Brazil's
demandforliquidfuelsbrokethe3.0millionbbl/dmark,whileitsdomesticproduction
continuedtoremainrelativelyunchangedatabout2.7millionbbl/d.EIAprojectsthat
consumptionwillcontinuetobegreaterthanproductionthrough2015.
BrazilannouncedinSeptember2014thatitexpectsthecountrywillproduce4.0million
bbl/dofcrudeoilby202022andexport1.52.0millionbbl/dby2022,buoyedbythe
discoveriesinitspresaltoilfields.5 Thisproductionlevelrepresentsadownwardrevision
fromitsexpectationslastyearof5.0millionbbl/dofproductionandexportsofmorethan
2.25millionbbl/dby2021.
Petrobrasprojectsthatthecompanywillproduceanaverageof2.9millionbbl/dofoil

domesticallybetween201320andaverage3.7millionbbl/dbetween202030,accordingto
itslatestbusinessandmanagementplan.6

Downstream
AccordingtotheANP,Brazilhadatotalof2.2millionbbl/dofcrudeoilrefiningcapacityat16
refineriesin2013.Petrobrasoperates13facilitiesthatproduce2.0millionbbl/dofproduct.7
Thelargestfacilityisthe415,000bbl/dReplanrefineryinSaoPaulo.BecauseBrazil'soil
refineriesdonothavethetechnicalcapabilitiestoprocessheaviercrudes,thecountrymust
exportsomeofitsheavycrudeoilandimportlightcrudeoil.Withdomesticdemandgrowing,
Brazil'srefineriesarecurrentlyoperatingat98%capacity.8
PetrobrasplanstoincreaseitsBrazilianrefiningcapacitytomorethan3.2millionbbl/dby
2020andby3.9millionbbl/dby2030tomeetanticipateddomesticdemand.Underthe
company's201418businessandmanagementplan,Petrobraswillbuildfouradditional
refinerieswithonecomingonlinethisyeartomeetthisgoal.8 TheAbreueLima,a230,000
bbl/drefinery,cameintooperationinDecember2014.Therefineryinitiallybeganasajoint
venturewithPetroleosdeVenezuela(PdVSA),butitmovedforwardwithoutPdVSAwhenit
wasunabletoprovidethe40%equity($17billion).10

Exportsandimports
TheUnitedStatesimported110,000bbl/dofBraziliancrudeoilandexported179,000bbl/dofpetroleumproductstoBrazilin2013.
AccordingtotheANP,Brazilexported381,000bbl/dofcrudeoilin2013,a31%decrease
fromthepreviousyear.TheUnitedStatesimported110,000bbl/dofcrudeoilfromBrazilin
2013,adecreaseofmorethan30%from2012.BecauseofincreasingU.S.domesticsupply
andgrowingChinesedemand,ChinabecamethelargestimporterofBrazil'scrudeoilin
2013,importing115,000bbl/d.ThethirdlargestdestinationofBrazil'scrudeoilafterChina
andtheUnitedStatesisIndia,whichimported49,000bbl/din2013.11
Tomeettherisingdemand,compensateforitsfuelpricesubsidies12 ,andsupplementits
underinvestedrefiningsector13 ,Brazilcontinuestobeasignificantimporterofpetroleum
products.In2013,thecountryimported528,000bbl/dofpetroleumproducts,anincreaseof
12%fromthepreviousyear.TheUnitedStatesexported179,000bbl/dofproductstoBrazil
in2013andwasitslargestsourceofimportedproducts.Brazil'simportsofpetroleum
productfromtheUnitedStatesrose8%fromthepreviousyearandincreased225%
comparedwiththelevelfiveyearsearlier.IndiawasBrazil'ssecondlargestsourceof
importedpetroleumproductsat72,000bbl/dofproductstoBrazil.14
Thetransportationaccountedforthelargestshareofpetroleumproductsdemand.Because
ofcontinuedfuelpricesubsidiesandstrugglingrefiningsector,morethantwothirdsof
Brazil'spetroleumproductsimportswereforthetransportationsectorin2013.Thelargest

importwas177,000bbl/dofdieseloilIndiasupplied72,000bbl/dandtheUnitedStates
provided59,000bbl/dofthetotal.15

Biofuels
Toaddressthecountry'sdependenceonoilimportsandsurplusofsugarcane,thegovernmentimplementedpoliciestoencourage
ethanolproductionandconsumptionbeginninginthe1970s.
BrazilisthesecondlargestproducerandconsumerofethanolintheworldaftertheUnited
States.AccordingtotheANP,in2013,Brazilproduced479,000bbl/dofethanol,an18%
increasefromthepreviousyear.16
Thegovernmentraisedtheethanolblendrequirementingasolinebackupto25%inMay
2013.Itisnowconsideringanincreaseto27.5%asameasuretoreducegasoline
imports.17
In2013,Brazilexported50,000bbl/dofethanol,81%ofwhichwasshippedtotheUnited
States,SouthKorea,theNetherlands,andJapan.TheUnitedStatesimported30,000bbl/d
ofethanolfromBrazilin2013and35,000bbl/din2012,asignificantincreasefrom12,000
bbl/din2011,asU.S.policyin2012lifteddomestictariffsonBraziliansugarcane.18
Brazilalsoproducesbiodieselbutatsmallerquantities.In2013,thecountryproduced
50,000bbl/dofbiodiesel.Morethan80%ofproductionwasconcentratedinthesouth
centralregionofthecountry.19

Presaltoil
Theworld'slargestoildiscoveriesinrecentyearshavecomefromBrazil'soffshore,presaltbasins.
In2005,PetrobrasdrilledexploratorywellsneartheTupifieldanddiscoveredhydrocarbons
belowthesaltlayer.In2007aconsortiumofPetrobras,BGGroup,andPetrogaldrilledinthe
Tupifieldanddiscoveredanestimated58billionbarrelsofoilequivalent(boe)resourcesin
apresaltzone18,000feetbelowtheoceansurfaceunderathicklayerofsalt.EIAdefines
ultradeepdrillingintheGulfofMexicoas5,000feetormore.Furtherexplorationshowed
thathydrocarbondepositsinthepresaltlayerextendedthroughtheSantos,Campos,and
EspiritoSantobasins.
Presaltoilisgenerallycharacterizedasoilreservessituatedexceptionallydeepunderthick
layersofrockandsaltandrequiringsubstantialinvestmenttoextract.Thelargedepthand
pressureinvolvedinpresaltproductionpresentsignificanttechnicalhurdlesthatmustbe
overcome.Further,thescaleoftheproposedexpansioninproductionwillalsostretch
Petrobras'financialandtechnicalresources.
Petrobrasplanstodevelopitsmajorpresaltassetsinthreediscretephases:1)extended
welltests2)pilotprojectsand3)largescaleproductionthroughmultiple,duplicatefloating
production,storage,andoffloading(FPSO)facilities.
FollowingTupi,manypresaltfindswereannouncedintheSantosBasin.Pilotprojectsinthe
LulaandSapinhoafieldsbeganproductionin2009and2010,respectively.In2013,Brazil
producedanaverageof303,000bbl/dofoilfromitspresaltfields.InOctober2014,Brazil
producedanaverageof607,000bbl/dofoilfromthepresaltfields.20
WiththeexceptionoftheLibrafield,allpresaltareascurrentlyunderdevelopmentwerenon
competitivelygrantedtoPetrobras.ThroughtheTransferofRightsAgreementof2010,in
exchangefor$42billion(USD)ofPetrobrasshares,thegovernmentgavePetrobrasrightsto
exploreandproduce5billionboefromsixpresaltareasintheSantosBasin:Florim,Buzios,
SuldeGuara,Entornodelara,SuldeLula,andNordestedeTupi.Petrobrasdiscovered
significantreservesinadditiontotheoriginal5billionboe.InJune2014,thegovernment
grantedPetrobrastherightstoproducesurplusvolumesestimatedat9.815.2billionboe
foundintheBuzios,Entornodelara,Florim,andNordestedeTupiareas.Petrobrasexpects
firstproductionfromtheTransferofRightsareasby2016andfromthesurplusvolumesby
2021.21
InOctober2013,BrazilconcludeditsfirstpresaltlicensingroundfortheLibrafield,
estimatedtohold812billionbarrelsofrecoverablereserves.Theloneandwinningbidwas
aconsortiumofPetrobras,RoyalDutchShell,Total,andChinesenationaloilcompanies
ChinaNationalPetroleumCorporation(CNPC)andChinaNationalOffshoreOilCorporation
(CNOOC).Firstproductionisscheduledfor2017withpeakproductionof1.3millionbbl/dby
2030.22 Brazilanticipatesoilproductionfromthepresaltlayerwillaccountformostofthe

projectedgrowthfrom202030.
InNovember2013,amonthafterconcludingitsfirstpresaltlicensingroundfortheLibra
field,Brazil'sPetrobrasannounceditsdiscoveryoftheFrancofield,apresaltfinding,which
couldbelargerthanthe812billionbarrelsofrecoverablereservesfoundintheLibra
field.23 Additionally,inMay2014,Petrobrasmadeanotherpresaltfindingofpotentially5
billionbarrelsintheEntornodelarablock.24
Inits201418businessandmanagementplan,Petrobraslaidoutplanstoinvest$153.9
billioninexplorationandproduction,representingnearly70%ofPetrobras'totalplanned
investmentincludingdownstream,distribution,internationalactivities,etc.Morethan53%
($82billion)ofthetotalinvestmentwillbeinpresaltexplorationandproductionactivities
overthefiveyearperiod.25 Thecompanyisshiftingitsfocusawayfromdownstreamand
internationalexpansiontothedomesticupstreamsector.Petrobrasmayhavetofurther
divestitsinvestmentsintothedomesticupstreamsectorwiththeadditionofpotentially
billionsofboeasaresultofthesurplusvolumesfromtheTransferofRightsareas.

BrazilLibraandTransferofRightsFields

Source:Petrobras

Regulatoryreforms
Incontrasttotheearlierconcessionbasedframework,Petrobraswillbethesoleoperatorofeachproductionsharingagreementand
willholdaminimum30%stakeinallpresaltprojects.
TheBraziliangovernmentpassedlegislationinstitutinganewregulatoryframeworkin2010
forthepresaltreservesthatincludesfournotableattributes:First,thelegislationcreateda
newagency,PrSalPetrleoSA,toadministernewpresaltproductionandtrading
contractsinoilandgasindustry.Thesecondcomponentallowedthegovernmentto
capitalizePetrobrasbygrantingthecompany5billionbarrelsofunlicensedpresaltoil
reservesinexchangeforlargerownershipshare.Theothertwocomponentsestablisheda
newdevelopmentfundtomanagegovernmentrevenuesfrompresaltoilandlayoutanew

productionsharingagreement(PSA)systemforpresaltreserves.Incontrasttothe
concessionbasedframeworkfornonpresaltoilprojects,wherecompaniesarelargely
uninhibitedbythestateinexploringandproducing,Petrobraswillbethesoleoperatorof
eachPSAandwillholdaminimum30%stakeinallpresaltprojects.However,toincentivize
companies,thePSAwillalsoincludeasigningbonusof$6.6billion(USD)andalowcost
recoverycap.
Initsfirstand,thusfar,onlycompetitivelicensingroundforapresaltfield,thewinningbid
wasaconsortiummadeupofPetrobras(with40%stake),RoyalDutchShell(20%),Total
(20%),CNPC(10%),andCNOOC(10%).26

Naturalgas
Althoughnaturalgasaccountedfor8%ofBrazil'stotalenergyconsumption,thecountryhasthesecondlargest
reservesinSouthAmerica,locatedprimarilyoffshoreintheCamposBasin.

Sectororganization
PetrobrasplaysadominantroleinBrazil'sentirenaturalgassupplychain.Inadditionto
controllingmostofthecountry'snaturalgasreserves,thecompanyisresponsibleformost
domesticBraziliannaturalgasproductionandfornaturalgasimportsfromBolivia.Petrobras
controlsthenationaltransmissionnetwork,andithasastakein21ofBrazil's27state
ownednaturalgasdistributioncompanies.Intheupstreamandthemidstreamsector,the
MinistryofMinesandEnergysetpolicy,andtheANPistheregulatoryauthority.Inthe
downstreamsector,regulationisoverseenbystateagencies.

Reserves
EIAestimatesthatBrazilhad13.7trillioncubicfeet(Tcf)ofprovednaturalgasreservesat
thebeginningof2014.TheANPestimatesthat,attheendof2013,Brazilhadanestimated
16trillioncubicfeet(Tcf)ofprovednaturalgasreserves,secondinSouthAmericaafter
Venezuela.About85%ofBrazil'snaturalgasreservesarelocatedoffshore,66%ofoffshore
reservesareconcentratedoffthecoastofthestateofRiodeJaneiro.About72%ofthe
country'sonshorenaturalgasreservesarelocatedinthestateofAmazonas.27

Productionandconsumption
Alongwiththepotentialtosignificantlyincreaseoilproductioninthecountry,thepresaltareasareestimatedtocontainsizable
naturalgasreservesaswell.
In2013,Brazilproduced911billioncubicfeet(Bcf)ofgrossnaturalgas,ofwhich752(Bcf)
wasdrynaturalgas.Morethantwothirdsofthegrossnaturalgasproducedwasassociated

withoilandover50%ofassociatednaturalgasproductionoccurredinoffshorefieldsinthe
CamposBasinoffthecoastofRiodeJaneiro.About72%ofnonassociatednaturalgas
productionoccurredprimarilyoffshorethestatesofSaoPaulo,Bahia,andEspiritoSanto.
And68%ofonshoreproductionoccursinthestatesofAmazonasandBahiaandismostly
forlocalconsumptionbecauseofthelackoftransportationinfrastructure.Brazilalso
producednaturalgasfromitspresaltfieldsamountingto131Bcfin2013,asignificant
increasefrom4Bcfin2008whenitfirstbeganproducingfromthepresaltareas.28
Brazilconsumed1.3Tcfofdrynaturalgas,withimportsfromneighboringcountriesadding
todomesticproduction.Morethan900Bcfofdrynaturalgaswenttodomesticconsumption,
ofwhich75%wenttonaturalgasdistributors,14%torefineriesandsometofertilizerplants,
and11%wenttoelectricgenerators.29 Petrobrasexpectsdomesticdemandtoincreaseto
1.7Tcfby2020largelyfromincreaseddemandfromrefininganddistributors.Thecompany
planstomeetthisdemandbyincreasingdomesticsupplyby110%andincreasingliquefied
naturalgas(LNG)imports,whilekeepingpipelineimportsrelativelyunchanged.30
RecentannouncementsaboutadditionaldiscoveriesinBrazil'soffshorepresaltlayerhave
generatedexcitementaboutnewnaturalgasproduction.Alongwiththepotentialto
significantlyincreaseoilproductioninthecountry,thepresaltareasareestimatedtocontain
sizablenaturalgasreservesaswell.

Pipelines
PetrobrasoperatesBrazil'sdomesticnaturalgastransportsystemthroughitssubsidiary
companyTranspetro.Thenetworkhasmorethan5,700milesofnaturalgaspipelines,
predominantlyalongthecountry'ssoutheastandnortheastareasofthecountry,fromthe
stateofRioGrandedoSultoCeara.Foryearsthesesystemswerenotinterconnected,
whichhashinderedthedevelopmentofdomesticproductionandconsumption.However,in
March2010,theSoutheastNortheastIntegrationGasPipeline(GASENE)linkedthesetwo
marketsforthefirsttime.This860milepipeline,whichrunsfromRiodeJaneirotoBahia,is
thelongestpipelineeverbuiltinBrazil.
TheothermajornaturalgasmarketinBrazilistheAmazonregion.In2009,Petrobras
completedconstructionoftheUrucupipelinelinkingUrucutoManaus,thecapitalof
Amazonasstate.ThisprojectisexpectedtofacilitatedevelopmentoftheAmazon's
considerablenaturalgasreserves.

Imports
Brazilimported599Bcfofnaturalgasin2013,a27%increasefrom2012.Boliviaaccountedformorethan68%ofBraziliannatural
gasimports.
Brazilimported599Bcfofnaturalgasin2013,a27%increasefrom2012,asaresultof
largeincreaseindomesticgasdemand.Thecountrycurrentlyreceivesnaturalgasimports
bypipelinefromBoliviaandArgentinaandLNGimportsprimarilyfromNigeria,Qatar,Spain,

andTrinidadandTobago.31 Totalimportsofnaturalgasincreased26%in2013compared
to2012,LNGimportgrowth(59%)accountedformuchoftheyearonyearchange.32
AccordingtotheMinistryofMinesandEnergy,Boliviaaccountedformorethan68%oftotal
Braziliangasimportsand99%ofitspipelineimportsin2013.Brazilimportsnaturalgasfrom
Boliviathroughtwopipelines.TheGasbolpipeline,establishedin1999,linksSantaCruz,
BoliviatoCorumba,BrazilandcontinuestoSaoPaulo,Brazil.The1,960milepipelinehasa
maximumcapacityof1.1Bcfperday(Bcf/d).33 The98millioncubicperday(Mcf/d)San
MatiaspipelinerunsfromSanJosedeChiquito,BoliviatoSanMatias,Brazil,andthen
connectstotheGasOcidentepipelinetosupplytheEmpresaProductoradeEnergiaLtda
powerplantinCuiaba.34 Despiteeffortstoreducedependenceonimports,Brazilianimports
ofBoliviangasincreasedby15%in2013.35

Liquefiednaturalgas
BrazilhasthreeLNGregasificationterminalswithacombinedcapacityof1.4Bcf/d:the
Pecemterminalinthenortheast,theGuanabaraBayterminalinthesoutheast,andtheTRB
terminalwhichopenedinJanuary2014inthestateofBahia.36 Thefacilitiesarefloating
regasificationandstorageunits(FRSU).ThePecemreceiveditsfirstLNGcargofrom
TrinidadandTobagoinJuly2008.TheGuanabaraBayterminalcameonlineinMay2009.

Electricity
BrazilhasthethirdlargestelectricitysectorintheAmericas,behindtheUnitedStatesandCanada.
AccordingtoBrazil'senergyplanningcompany,EmpresadePesquisaEnergtica(EPE),
Brazilhadaninstalledgeneratingcapacityof127megawatts(MW)in2013.Hydroelectricity
accountedfor86MWofgeneratingcapacity,fossilfuelsourcescontributed37MW,and
smallamountsfromwind,solar,andnuclearmadeuptherest.37
Brazilgenerated570billionkilowatthours(kWh)ofelectricityin2013.Publicservicepower
plantsaccountedfor484billionkWh,selfproducersaccountedfor86billionkWh,andthe
remainderwaseithertradedoraccountedforaslosses.Finalenduseconsumptionof
electricityin2013was516billionkWh,withtheindustrialsectoraccountingfor210billion
kWhandtheresidentialsectorgenerating125billionkWh.Theenergysectorgenerated30
billionkWhin2013.Atleast71%ofelectricitygeneratedin2013camefromhydroelectric.
Naturalgasandoilrepresented11%and4%,respectively,andbiomassaccountedfor
8%.38

Sectororganization
ThegovernmentplaysasubstantialroleintheBrazilianelectricitysector.Untilthe1990s,
thegovernmentcontrolledtheelectricitysectoralmostcompletely.Brazilinitiatedan
electricitysectorprivatizationprocessin1996thatledtotheestablishmentoftheNational
ElectricEnergyAgency(Aneel).However,whendrierthanaverageweatherledtosevere
energyshortagesin2000and2001,theprivatizationprocessstalled.Althoughtheelectricity
sectorwasprivatizedintheearly2000s,thebulkofBrazil'smajorgenerationassetsremain
undergovernmentcontrol.Eletrobras,astateownedholdingcompany,isthedominant
playerintheelectricitymarket.Thegovernmentalsoownsalmosttheentireelectricity
transmissionnetwork.
In2004,theBraziliangovernmentimplementedanewmodelfortheelectricitysector.This
hybridapproachtogovernmentinvolvementsplitsthesectorintoregulatedandunregulated
marketsfordifferentproducersandconsumers.Thisapproachallowsforbothpublicand
privateinvestmentinnewgenerationanddistributionprojects.Undertheplan,however,
Eletrobraswasformallyexcludedfromprivatizationefforts.

Hydroelectricity
Brazilisplanningnewhydroelectricpowerprojects,suchastheBeloMonteplant,whichuponcompletionwillbethethirdlargest
hydroelectricpowerplantintheworld.
Brazilgenerated405billionkWhofhydroelectricpowerin2013.ManyofBrazil's
hydropowergeneratingfacilitiesarelocatedfarfromthemaindemandcenters,resultingin
hightransmissionanddistributionlosses.Theworld'slargesthydroelectricplantby
generationisthe14,000MWItaipuhydroelectricdamontheParanaRiver,whichBrazil
maintainswithParaguay.AccordingtoItaipuBinacional,thefacilitygenerated98.6billion
kWhofelectricityin2013.39 AlthoughBrazilplanstomoveawayfromhydropowerto
mitigatetheriskofsupplyshortagesasaresultofdryweather,newhydroprojectscontinue
tomoveforward.MostnotableamongtheseprojectsistheBeloMonteplantintheAmazon
Basin,whichuponcompletionwillbethethirdlargesthydroelectricplantintheworldbehind
China'sThreeGorgesDamandtheItaipuDam.

Nuclearpower
Brazilhastwonuclearpowerplants,the640megawatt(MW)ANGRA1andthe1,350MW
ANGRA2.StateownedEletronuclear,asubsidiaryofEletrobras,operatesbothplants.The
ANGRA1nuclearpowerplantbegancommercialoperationsinDecember1984,andthe
ANGRA2begancommercialoperationsinDecember2000.Constructionofathirdplant,the
1,405MWAdmiralAlvaroAlbertoNuclearPowerStation(CNAA),formerlyANGRA3,started
in1984andstillunderconstruction.Electronuclearanticipatesthattheplantwillenterinto
commercialoperationsbyMay2018.40

Notes
DatapresentedinthetextarethemostrecentavailableasofDecember29,2014.
DataareEIAestimatesunlessotherwisenoted.

Endnotes
1EmpresadePesquisaEnergtica,"EPEdisponibilizaoRelatrioFinaldoBalanoEnergticoNacionalBEN2014,"(August6,2014)

http://www.epe.gov.br/Estudos/Paginas/Balan%C3%A7o%20Energ%C3%A9tico%20
Nacional%20%E2%80%93%20BEN/EPEdisponibilizaoRelat%C3%B3rioFinaldoBalan%C3%A7oEnerg%C3%A9ticoNacional%E2%80%93BEN2014.aspx.
2AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
3Petrobras,OperationalHighlights,http://www.investidorpetrobras.com.br/en/operationalhighlights/production/monthlycrudeoilandnaturalgas

productioninbrazilandabroad/monthlycrudeoilandnaturalgasproductioninbrazilandabroad.htm.
4AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
5Platts,"BraziltoExportUpto2millionb/dby20182020:ANP,"(September15,2014),http://www.platts.com/latestnews/oil/riodejaneiro/brazilto

exportupto2millionbdby2018202021231640.
6Petrobras,"2030StrategicPlanand20142018BusinessandManagementPlan,"http://www.investidorpetrobras.com.br/en/businessmanagement

plan/businessmanagementplan/ano/2014.htm.
7Petrobras,Activities,http://www.petrobras.com/en/aboutus/activities/.
8AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
9Petrobras,"2030StrategicPlanand20142018BusinessandManagementPlan,"http://www.investidorpetrobras.com.br/en/businessmanagement

plan/businessmanagementplan/ano/2014.htm.
10Rittner,DanielandUlhoa,Raquel,"FosterdizquerebaixamentodaPetrobraspelaMoodyssersuperado,"ValorEconomico(October7,2013),

http://www.valor.com.br/empresas/3296250/fosterdizquerebaixamentodapetrobraspelamoody.
11AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
12Orihuela,RodrigoandGodoy,Denyse,"PetrobrasFallsasBrazilFailstoPhaseOutFuelSubsidy,"Bloomberg(December2,2013),

http://www.bloomberg.com/news/20131202/petrobrasfuelpriceincreaseputslimitonsubsidy.html.
13Blount,Jeb,"Analysis:PetrobrasFuelWoesMakeBrazilDependentonU.S.,India,"ReutersJanuary22,2014),

http://www.reuters.com/article/2014/01/23/usbrazilrefininganalysisidUSBREA0M04I20140123.
14AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
15Ibid
16AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
17Goy,Leonardo,"BraziltoTestHigherEthanolRequirementinGasolineSource,"Reuters(June18,2014),

http://in.reuters.com/article/2014/06/18/brazilbiofuelsidINL2N0OZ0OC20140618.
18Winters,Brian,"Insight:U.S.andBrazilAtLast,FriendsonEthanol,"Reuters(September14,2012),http://www.reuters.com/article/2012/09/14/us

brazilusethanolidUSBRE88D19520120914.
19AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"Oil,NaturalGas,andBiofuelsStatisticalYearbook2014"(2014).
20AgnciaNacionaldoPetrleo,GsNaturaleBiocombustveis,"BOLETIMMENSALDAPRODUODEPETRLEOEGSNATURAL,"(October

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