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In-Briefs

Russia/Brazil: Moscow Desires More Latin Oil

November 9, 2011
| Energy
| Russia and Central Asia, The Americas

Gazprom, the largest Russian company, announced it was opening a regional office in Rio de Janeiro  on November 3 . . . Gazprom is the largest producer of natural gas in the world . . . the company already has partnerships with Venezuelan and Bolivian energy companies . . . this comes after joint Russian-British energy company TNK-BP had announced it purchased a 45 percent stake in HRT O&G, a Brazilian oil company that was exploring along the Amazon River basin, on October 31st . . . TNK-BP had previously signed a deal in June with Petro Energia to explore other parts of the Amazon basin . . . Moscow views Latin America as an important source of energy . . . it likely views Brazil’s huge underwater oil reserves and a recent discovery of oil reserves off the coast of French Guyana as very appealing . . . opening the new office gives Gazprom greater control over its operations in Latin America.

  
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