Brazil Set To Become Net Oil Exporter

According to the International Energy Agency

Nov 12 (Reuters) – Brazil is set to become a net oil exporter and top 10 producer from 2015 if it overcomes hurdles to developing its giant offshore discoveries, the West's energy agency said on Tuesday.

In its 2013 World Energy Outlook, the International Energy Agency (IEA), which advises large industrialised nations on energy policy, said Brazil could play a major role in supplying the world's energy needs in coming decades, though its rise would hinge on its ability to develop its resources.