Brazil to Develop Gas Reserves

Brazil’s state-owned oil company plans to invest $22 billion to develop its natural gas reserves and reduce its dependence on Bolivia, a company official said Tuesday.

Petroleo Brasileiro SA is increasing investments from 2007 to 2011 because demand for natural gas is expected to rise 17 percent annually. Latin America’s largest country also wants to decrease its reliance on Bolivia, which nationalized its energy industry.
MSN