Brazilian Crude Reserves Could Double to 30 Billion Barrels (PBR)

Energy

Published: March 21, 2012 12:28 pm

Last Updated: March 21, 2012 4:36 pm

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The newly installed head of Brazil’s national petroleum regulatory agency (ANP) has said that the country’s probable reserves could double from 15 billion to 30 billion barrels in the near future according to a report at MarketWatch. ANP chief Magda Chambriard noted that only 4% of the country’s sedimentary basins are currently being explored and that the country needs to boost investment in order to realize the potential of the country’s oil wealth.

Petroleo Brasileiros SA (NYSE: PBR), or Petrobras, plans to spend $225 billion over the next few years to develop the country’s massive offshore fields. Where the company, or even the country, will get more money to seek out Chambriard’s additional barrels wasn’t specified.

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.