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Brazil’s needs to invest $1 trillion to realise deep-water plans

The country has drawn up plans to transform its energy sector, but serious investment is needed, says the IEA

Brazil will need to invest more than $1 trillion over the next 20 years to realise its hugely ambitious deep-water oil development plans, the International Energy Agency (IEA) said in it latest World Energy Outlook. The country has drawn up plans to remake the whole of its energy sector, developing its vast deep-water oil deposits, expanding access to electricity, bringing new hydro-power on stream, ramping up biofuels production and increasing the role of natural gas in the energy mix. All of which are needed to fuel an economy that is expected to double in size over the coming decades. Realising those ambitions will not come cheap. Brazil will need investment of $90 billion a year from 2

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