page_title: Energy in Brazil
section_title: Oil
hierarchical_section_title: Energy in Brazil / Primary energy sources / Oil
caption_attribution_description: Usina termoelétrica em Camaçari, Bahia, Brasil
context_page_description: Brazil is the largest energy consumer in South America. It is the most important oil and gas producer in the region and the world's largest ethanol fuel producer. The government agencies responsible for energy policy are the Ministry of Mines and Energy, the National Council for Energy Policy, the National Agency of Petroleum, Natural Gas and Biofuels and the National Agency of Electricity. State-owned companies Petrobras and Eletrobras are the major players in Brazil's energy sector, as well as Latin America's.
context_section_description: Brazil is the world's 12th-largest oil producer. Up to 1997, the government-owned Petróleo Brasileiro S.A. (Petrobras) had a monopoly on oil. More than 50 oil companies now are engaged in oil exploration. The only global oil producer is Petrobras, with an output of more than 2 million barrels (320,000 m³) of oil equivalent per day. It is also a major distributor of oil products, and owns oil refineries and oil tankers.
  In 2006, Brazil had 11.2 billion barrels (1.78×10⁹ m³) the second-largest proven oil reserves in South America after Venezuela. The vast majority of proven reserves were located in the Campos and Santos offshore basins off the southeast coast of Brazil. In November 2007, Petrobras announced that it believed the offshore Tupi oil field had between 5 and 8 billion barrels (1.3×10⁹ m³) of recoverable light oil and neighbouring fields may even contain more, which all in all could result in Brazil becoming one of the largest producers of oil in the world.
  Brazil has been a net exporter of oil since 2011. However, the country still imports some light oil from the Middle East, because several refineries, built in the 1960s and 1970s under the military government, are not suited to process the heavy oil in Brazilian reserves, discovered decades later.
  Transpetro, a wholly owned subsidiary of Petrobras, operates a crude oil transport network. The system consists of 6,000 kilometres (3,700 mi) of crude oil pipelines, coastal import terminals, and inland storage facilities.
caption: Oil-based Arembepe thermal power plant in Camaçari, Bahia
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