CESGRANRIO-2010 — PETROBRAS – NÍVEL SUPERIOR – LÍNGUA INGLESA – PROVA GABARITADA E TEXTOS COM TRADUÇÃO REVISADA.

❑ PROVA DE LÍNGUA INGLESA:

• CESGRANRIO-2010-PETROBRAS-NÍVEL SUPERIOR.

 www.cesgranrio.org.br

❑ ESTRUTURA-PROVA:

➭ 20 MCQs (Multiple Choice Questions) / 5 Options Each Question.

• Text (1) – | Deepwater Oil Finds Spur NYK to Invest in New Vessels | www.rigzone.com |

• Text (2) – | The next oil giant? | www.economist.com|

❑ GABARITO:

01-B,  02-C,  03-E,  04-B,  05-A

06-C,  07-E,  08-B,  09-C,  10-C

11-E,  12-D,  13-A,  14-A,  15-E

16-A,  17-B,  18-D,  19-E,  20-D

❑ PROVA:

➧ TEXT 1:

Deepwater Oil Finds Spur NYK to Invest in New Vessels

by Mari Iwata

A raft of giant oil strikes in global deepwaters is prompting Japanese shipping company NIPPON YUSEN KABUSHIKI KAISHA (NYK Line) to invest more in floating production vessels that it can offer for lease, a senior executive said. NYK Line says Petroleo Brasileiro SA (PBR) will be its biggest customer in the near term, as Brazil's state-owned oil company targets first production from large oil finds in the subsalt region.

Good news flowing from drilling campaigns in Brazil's deep water continued Tuesday when Petrobras said its Guara prospect in the Santos Basin holds between 1.1 billion and 2 billion barrels of oil equivalent. Other big discoveries in the area include Tupi, which was the Western Hemisphere’s largest discovery in more than 30 years. The oil lies under more than 2,000 meters of water and a further 5,000 meters under sand, rock and a shifting layer of salt.

Fewer Rivals
In June, NYK and three Japanese partners invested in Etesco Drilling Services LLC, which will lease drill ships to Petrobras. A drill ship is already on order and due for delivery in January 2012. It will be leased to Petrobras for a maximum 20 years for drilling in Brazil’s subsalt region.

Hitoshi Nagasawa, managing officer of NYK Line, said NYK isn’t involved in operating the drill ship in this project, and is merely an investor. “However, we’ll learn from our experience partnering companies, as our ultimate goal is to operate (floating vessels) on our own,” he said.

NYK is one of Japan's two major crude oil and liquefied natural gas carrier companies, and has a track record in loading and offloading these products. It is also joint operator of a drilling vessel owned by the Japanese government. NYK aims to make operating and leasing floating vessels the third pillar of its business after LNG shipping and very large crude carriers, or VLCCs.

At present, Petrobras’s ambitious drilling plans in deepwater will ensure the Brazilian company remains its largest customer in the near term, Nagasawa said. But the company is studying several more projects involving floating vessels, said Nagasawa. He declined to give specifics, but said: “We will partner with and invest in other companies if we think the project is good. But we won’t do a project alone, because the investment is too large for one company.”
       
NYK is also seeking other projects than drill ships. These include floating production, storage and offloading vessels, or FPSOs, floating storage and offloading vessels, or FSOs, and floating storage and regasification units, or FSRUs.
       
NYK posted a net profit of Y56 billion for the fiscal year ended March 2009, roughly down by half from a year earlier. The earnings decline was due in part to weakening demand for shipping in the second half and higher costs due to a strong yen.
       
The container shipping sector was among the most attractive to new entrants until the global economy started to turn down in fall 2008, with the intensifying competition contributing to weaker margins. But the business of leasing and operating floating vessels for use in deep-water areas has more barriers to entry because it requires deeper technological knowledge and higher investment, Nagasawa said.

slightly adapted from: (TOKYO) Dow Jones Newswires Sept. 10, 2009 URL: http://www.rigzone.com/news/article.asp?a_id=80199, retrieved on 22 December 2009.

👉  Questão   31 
The main purpose of this article is to
(A) justify why NYK has been Petrobras’s biggest customer in prospecting subsalt regions.
(B) explain why NYK and Petrobras have decided to jointly operate drilling ships till January 2012.
(C) complain about Petrobras’s ambitious drilling plans derived from its recent deepwater discoveries. (D) expose NYK’s plans for floating vessels that could be leased to Petrobras’s subsalt oil drilling.
(E) recommend investors to put their money on shares of NYK as the company’s net earnings for the fiscal year were high.
👍 Comentários e Gabarito :   B 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
A proposta principal deste artigo é
*Alternativa (A): justificar porque a NYK tem sido a maior cliente da Petrobras na prospecção de regiões do pré-sal.
*Alternativa (B): explicar por que a NYK e a Petrobras decidiram operar conjuntamente navios de perfuração até janeiro de 2012.
*Alternativa (C): queixar-se dos ambiciosos planos de perfuração da Petrobras derivados de suas recentes descobertas em águas profundas.
*Alternativa (D): expor os planos da NYK para navios flutuantes que poderiam ser arrendados para a perfuração de petróleo de pré-sal da Petrobras.
*Alternativa (E): recomendar aos investidores que ponham seu dinheiro em ações da NYK, já que os lucros líquidos da empresa para o ano fiscal foram altos.
👉  Questão   32 
In paragraph 2 (lines 9-17), the author suggests that Tupi is
(A) a region in the Western Hemisphere that will produce up to 1.1 billion barrels of oil.
(B) as poor in oil prospects as Guara has been found to be.
(C) the most promising oil source in the world discovered in the 30s.
(D) solely responsible for all the good news about oil finds in Brazil.
(E) included, along with Guara, among the very favorable oil reserves in the Santos Basin.
👍 Comentários e Gabarito :   C 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
No parágrafo 2, o autor sugere que Tupi é
*Alternativa (A): uma região do Hemisfério Ocidental que produzirá até 1,1 bilhão de barris de petróleo.
*Alternativa (B): tão pobre em perspectivas de petróleo como Guara foi encontrado para ser.
*Alternativa (C): a fonte de petróleo mais promissora do mundo descoberta nos anos 30.
*Alternativa (D): exclusivamente responsável por todas as boas novas sobre descobertas de petróleo no Brasil.

*Alternativa (E): incluiu, junto com Guara, entre as reservas de petróleo muito favoráveis na Bacia de Santos.
👉  Questão   33 
In the fragment "We will partner with and invest in other companies if we think the project is good." (lines 43-44), Nagasawa expresses a(n)
(A) impossible fact.
(B) absolute certainty.
(C) unachievable situation.
(D) concrete intention.
(E) remote possibility.
👍 Comentários e Gabarito :   E 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
No fragmento:
"We will partner with and invest in other companies if we think the project is good."
(Vamos nos associar e investir em outras empresas se acharmos que o projeto seja bom", Nagasawa expressa um (uma)...
*Alternativa (A): fato impossível.
*Alternativa (B): certeza absoluta.
*Alternativa (C): situação inatingível.
*Alternativa (D): intenção concreta.
*Alternativa (E): possibilidade remota.
👉  Questão   34 
In "These include floating production, storage and offloading vessels, …"(lines 48-49), the pronoun ‘these’ refers to
(A) "...investment(s)..."(line 45).
(B) "...projects..."(line 47).
(C) "...ships."(line 47).
(D) "...floating production, storage and offloading vessels," (lines 48-49).
(E) "floating storage and regasification units," (lines 50-51).
👍 Comentários e Gabarito :   B 
TÓPICO - Questão sobre REFERÊNCIAS PRONOMIAIS:
Em:
"These include floating production, storage and offloading vessels,"
(Estes incluem navios flutuantes de produção, armazenamento e descarga,)
O pronome THESE(estes/estas) refere-se a
*Alternativa (A): investimento.
*Alternativa (B): projetos.
*Alternativa (C): navios.
*Alternativa (D): navios flutuantes de produção, armazenamento e descarregamento.
*Alternativa (E): unidades flutuantes de armazenamento e regaseificação.

Nesta questão temos que saber a quem(ou a que) se refere o pronome "these" na frase "These include floating production, storage and offloading vessels, …".Questões que envolve o tópico PRONOMES REFERENCIA, a dica é sempre:"procurar na frase anterior a coisa referenciada", então vamos a texto e foque na frase anterior do pronome demonstrativo "these(estes/estas)":
[NYK is also seeking other projects than drill ships. These include floating production, storage and offloading vessels,](A NYK também está buscando outros projetos além dos navios de perfuração. Estes incluem embarcações flutuantes de produção, armazenamento e descarga,).
*Perceba que "these" refere-se a "other projects" , portanto, opção correta é a opção (B).
👉  Questão   35 
The phrase "roughly down by half from a year earlier."(lines 53-54) indicates that
(A) NYK's net earnings had declined to about 50% of the 2008 figures.
(B) the earlier the fiscal taxes came in, the rougher NYK's yearly profit would be.
(C) more than half of NYK's earnings had been raised in comparison to those of the year before.
(D) in 2008, due to the rough scenario of the economy, NYK's profits fell to Y28 billion.
(E) in March 2009, NYK's expected profit amounted to twice of what had been calculated the previous year.
👍 Comentários e Gabarito :   A 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
A frase "mais ou menos a metade do ano anterior" indica que...
*Alternativa (A): O lucro líquido da NYK caiu para cerca de 50% dos números de 2008.
*Alternativa (B): quanto mais cedo os impostos fiscais entravam, maior seria o lucro anual da NYK.
*Alternativa (C): mais da metade dos ganhos da NYK foram aumentados em comparação com os do ano anterior.
*Alternativa (D): em 2008, devido ao cenário áspero da economia, os lucros da NYK caíram para 28 bilhões de yuans.
*Alternativa (E): Em março de 2009, o lucro esperado da NYK foi o dobro do que havia sido calculado no ano anterior.


A frase "roughly down by half from a year earlier." significa "quase a metade do ano anterior".
Veja no texto:
*"[...] NYK posted a net profit of Y56 billion for the fiscal year ended March 2009, roughly down by half from a year earlier."
(A NYK registrou um lucro líquido de 56 bilhões de iens  para o ano fiscal encerrado em março de 2009, quase metade do ano anterior).
👉  Questão   36 
The explanation given corresponds to the information in Text I in
(A) "...1.1 billion and 2 billion barrels..." (line 12) – amount of oil to be produced in the Santos Basin in a year.
(B) "...5,000 meters..." (line 16) – distance between the water surface and the layer of salt.
(C) "...maximum 20 years..." (line 23) – total period Petrobras will be allowed to use the drill ship to explore the Brazilian subsalt region.
(D) "...Y56 billion..." (line 52) – NYK's total earnings for the calendar year of 2009.
(E) "...fall 2008," (line 59) – period when the global economy forced NYK to begin to invest in container ships.
👍 Comentários e Gabarito :   C 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*O item (a) afirma que 1,1 bilhão e 2 bilhões de barris corresponde a quantidade de petróleo a ser produzida na bacia de Santos em um ano. Afirmativa INCORRETA pois o texto disse que a perspectiva dos números citados é da Guara que fica na bacia de Santos,veja trecho do texto "[...]Petrobras said its Guara prospect in the Santos Basin holds between 1.1 billion and 2 billion barrels of oil equivalent."
*O item (b) afirma que 5.000 metros corresponde a distância entre a superfície da água e a camada de sal. Afirmativa INCORRETA pois o texto disse que a distância enter a camada superficial e a camada de sal é de mais de 7000m sendo de mais de 2.000 metros de água e outros 5.000 metros sob areia,rocha,ou seja,temos 7000m no total(2000m de água mais 5000m),veja trecho do texto "[...]The oil lies under more than 2,000 meters of water and a further 5,000 meters under sand, rock and a shifting layer of salt."
*O item (c) afirma que 20 anos no máximo corresponde o período total que a Petrobras poderá usar o navio de perfuração para explorar a região do pré-sal.Afirmativa verdadeira ,veja trecho do texto "[...]A drill ship is already on order and due for delivery in January 2012. It will be leased to Petrobras for a maximum 20 years for drilling in Brazil’s subsalt region."
*O item (d) afirma que 56 bilhões de ienes corresponde o lucro total da NYK para o ano civil de 2009.Item incorreto,56 bilhões de ienes corresponde ao ano civil de 2008."[...]NYK posted a net profit of Y56 billion for the fiscal year ended March 2009"
*O item (e) afirma que o outono de 2008 corresponde o período em que a economia global forçou a NYK a começar a investir em navios porta-contêineres. Afirmativa falsa.
👉  Questão   37 
In terms of meaning,
(A) “...prompting...” (line 2) and triggering are antonyms.
(B) “...due...” (line 22) and scheduled are synonyms.
(C) “...ensure...” (line 39) cannot be replaced by guarantee.
(D) “...seeking...” (line 47) is similar in meaning to rejecting.
(E) “...turn down...” (line 59) is equivalent to take off.
👍 Comentários e Gabarito :   E 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   38 
The only acronym that does NOT represent a vessel used in oil production is
(A) VLCC
(B) FPSO
(C) FSRU
(D) FSO
(E) LNG
👍 Comentários e Gabarito :   B 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   39 
According to Text I, all of the following statements are true about NYK, EXCEPT the fact that the company
(A) is looking forward to being the only company serving Petrobras in supplying drill ships for deepsea production.
(B) is currently an investor in a project with other Japanese companies to support Petrobras’s oil production.
(C) is interested in expanding its business into other kinds of vessels, besides carriers of crude oil and liquefied natural gas.
(D) was not as lucrative in 2008-2009 as it had been in past years partly due to the exchange rate of Japanese currency.
(E) may face technical and financial obstacles in being a new entrant in the business of leasing floating vessels.
👍 Comentários e Gabarito :   C 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
➧ TEXT 2: Consider Text II to answer questions 10 to 20.

The next oil giant?

Mar 19th 2009

From the Economist Intelligence Unit ViewsWire

Financing hurdles

At the time of the Tupi discovery, oil prices were close to US$100/b, but since then they have fallen to around US$40/b. Weak prospects for a significant pickup in the medium term have raised questions about whether investors will see the project as financially viable.

The drying up of international financing, significantly lower oil prices and the technological and geological challenges related to the development of the new oil finds make long-term cost calculations difficult. Because of this, Petrobras decided to delay the announcement of its five-year strategic plan by four months. It was finally made public in February 2008 and included very ambitious financial goals. The revised plan for 2009-13 is based on an average oil price of US$42/b and calls for investments of around US$174.4bn, a 55% increase from the US$112.4bn stated in its 2008-12 investment plan.

Petrobras has gone some way towards securing financing for this year’s outlays. The company has raised US$10.5bn of the US$28.6bn it needs. Of the remaining US$18.1bn, it is set to receive US$11.9bn from the Banco Nacional de Desenvolvimento Econômico e Social (BNDES, Brazil’s national development bank) in the form of a 30-year US$11.9bn loan, with an additional US$5bn bridge loan expected from a consortium of international banks. Petrobras would need to raise a further US$10bn to cover its investments in 2010.

Growing difficulties in accessing international capital markets could scupper these plans or—at the very least—sharply raise the cost of borrowing. The brief easing of credit conditions in January allowed Petrobras to issue a 10-year, US$1.5bn bond on the eurobond market. But low risk appetite on the part of foreign investors, recent currency-derivatives losses and continued uncertainty regarding the value of the Real mean that large Brazilian companies are increasingly likely to rely on local banks for credit at high premium spreads.

What role for private capital?
     
While the role of the state oil company is not in question, the level and manner of participation by the private sector is not as clear. Brazil opened its hydrocarbons sector to private investors at the end of the 1990s. Since then, it has held annual bidding rounds that have become a model of transparency and have attracted large numbers of private participants.

However, Brazil’s new oil and gas potential has raised doubts about the extent of that openness in the future, as the government debates the preferred degree of private participation. Following the Tupi discovery, the government removed 41 deepwater blocks in the sub-salt region from the ninth bidding round for the first time since it started holding international rounds in 1998. In 2008 Brasília again withheld offshore blocks from the 10th bidding round. Seven companies currently hold concessions for the development of the sub-salt: Petrobras, BG, Galp, Repsol, Shell, Exxon and Amerada Hess.
       
A specially created government task force is studying possible changes to the concession laws that would give Petrobras the upper hand in the development of the Tupi area. The task force is considering options such as raising taxes and royalties on private companies producing in the new areas. Under current concession contracts, private operators sell the oil they produce in exchange for a relatively low government take of between 5% and 10%. They also pay a special participation tax of 10-40% of revenue on large fields, depending on volume, location, depth and age; this level could also be raised. A more dramatic approach under consideration is to turn concession contracts into production-sharing agreements with Petrobras. This would mean that private companies would have to share their production with the government after recovering costs.
       
Any changes to the current contractual agreements would need congressional approval. But the final decision will be in the hands of the president, Luiz Inácio Lula da Silva, based on the suggestions made by the task force. Whichever line he takes will set the stage for hydrocarbons developments in a future oil-rich Brazil beyond the end of his presidential term in 2010. The government hopes that by engaging in a debate early on in the development of the south-eastern oil reserves, it will pre-empt a possible shift to resource nationalism.

THE ECONOMIST

http://www.economist.com/ displaystory.cfm?story_id=13348824&source=login_payBarrier

👉  Questão   40 

The question mark in the title “The next oil giant?”, in connection with the arguments exposed in the text, suggests that the author

(A) fears the unexpected drop in oil prices resulting from the new oil finds.
(B) is uncertain about the profitability of Brazil’s recently discovered oil reserves.
(C) refuses to admit that Brazil will definitely emerge as a financially viable country.
(D) questions whether Brazil will really become selfsufficient in oil in the near future.
(E) criticizes the Brazilian government’s current concession laws for oil exploration by foreign companies.

👍 Comentários e Gabarito :   e  
(A) fears the unexpected drop in oil prices resulting from the new oil finds.

(teme a queda inesperada dos preços do petróleo resultante das novas descobertas de petróleo.)
(B) is uncertain about the profitability of Brazil’s recently discovered oil reserves.

(está incerto sobre a rentabilidade das reservas de petróleo recentemente descobertas no Brasil.)
(C) refuses to admit that Brazil will definitely emerge as a financially viable country.

(recusa-se a admitir que o Brasil vai definitivamente emergir como um país financeiramente viável.)
(D) questions whether Brazil will really become selfsufficient in oil in the near future.

(questiona se o Brasil se tornará realmente autossuficiente em petróleo no futuro próximo.)
(E) criticizes the Brazilian government’s current concession laws for oil exploration by foreign companies.

(critica as atuais leis de concessão do governo brasileiro para exploração de petróleo por empresas estrangeiras.)

👉  Questão   41 

According to paragraph 2 (lines 7-18), the overall reason for Petrobras to postpone disclosing its 2009-13 strategic plan was announced to be the

(A) significantly lower oil prices.
(B) development of the new oil finds.
(C) difficult long term cost calculations.
(D) drying up of international financing.
(E) technological and geological challenges.
👍 Comentários e Gabarito :   E 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   42 

Large Brazilian companies are inclined to count on local banks for credit, as explained in paragraph 4 (lines 29-39), due to the

(A) current stability of the Brazilian currency in the eurobond market.
(B) resistance of international investors to put their money in low-risk projects.
(C) incapacity of European financing companies to invest in Latin American markets.
(D) high cost of international capital in the current economic scenario for high-risk projects.
(E) total impossibility of finding partners to form a consortium of international investors for Brazilian projects.
👍 Comentários e Gabarito :   D 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   43 
“While...” (line 41) and “However,” (line 48) could be correctly replaced with
(A) although – therefore.
(B) yet – due to the fact that.
(C) whereas – for that reason.
(D) even though – nevertheless.
(E) in the meanwhile - on the other hand.
👍 Comentários e Gabarito :   A 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   44 

The only fragment that DOES NOT refer to an aspect that might represent an obstacle for the progress of the exploration of Brazil’s deep water oil reservoirs is

(A) “The drying up of international financing, significantly lower oil prices and the technological and geological challenges (….) make long-term cost calculations difficult.” (lines 7-10).
(B) “The revised plan for 2009-13 is based on an average oil price of US$42/b and calls for investments of around US$174.4bn, a 55% increase from the US$112.4bn stated in its 2008-12 investment plan.” (lines 14-18).
(C) “The company has raised US$10.5bn of the US$28.6bn it needs. Of the remaining US$18.1bn, it is set to receive US$11.9bn from the Banco Nacional de Desenvolvimento Econômico e Social” (lines 20-23).
(D) “Growing difficulties in accessing international capital markets could scupper these plans or—at the very least—sharply raise the cost of borrowing.” (lines 29-31).
(E) “Brazil’s new oil and gas potential has raised doubts about the extent of that openness in the future, as the government debates the preferred degree of private participation.” (lines 48-51).
👍 Comentários e Gabarito :   A 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   45 

The participation of the private sector in the exploration of Brazil’s new oil finds is considered

(A) equivocal, as Brasília has decided against limiting the participation of private companies in all oil production.
(B) undesirable, since the government will definitely eliminate all concession contracts with foreign companies.
(C) troublesome, since the government task force has decided that private operators need not distribute revenues from sub-salt production.
(D) unnecessary, due to the concessions to be denied to seven international companies for the development of the sub-salt region.
(E) unresolved, because  the Brazilian government is still unsure about the degree of participation that private partners should have in this new business.
👍 Comentários e Gabarito :   E 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   46 

In “... possible changes to the concession laws that would give Petrobras the upper hand in the development of the Tupi area.” (lines 61-63),

the expression “give the upper hand” means

(A) show abusive power.
(B) have a dominant position.
(C) act in skillful manipulation.
(D) hold a subordinate standing.
(E) force a threatening command.

👍 Comentários e Gabarito :   B 

(A) show abusive power.

(mostrar poder abusivo)

(B) have a dominant position.

(ter uma posição dominante.)

(C) act in skillful manipulation.

(agir em manipulação hábil)

(D) hold a subordinate standing.

(manter uma posição subordinada.)
(E) force a threatening command.

(E) forçar um comando ameaçador.

👉  Questão   47 

In paragraph 7 (lines 60-76), among the possible changes to the Brazilian concession laws for the exploration of the deepwater blocks in the subsalt region, the author mentions

(A) lowering government taxation on the oil sold by private operators in the Tupi region.
(B) replacing concession contracts with production-sharing agreements with international companies.
(C) forbidding private companies to operate oil producing plants in the newly discovered fields.
(D) forcing Petrobras to pay a participation tax of 10-40% on  its production to private companies.
(E) increasing taxes only on oil produced from the small fields, according to volume, location, depth and age.
👍 Comentários e Gabarito :   B 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   48 

The expression in bold type and the item in brackets are semantically equivalent in

(A) “Weak prospects for a significant pick-up in the medium term have raised questions about…” (lines 4-3) – [drop].
(B) “The drying up of international financing,” (line 7) – [growth].
(C) “The revised plan for 2009-13 is based on an average oil price of US$42/b and calls for investments of around US$174.4bn,” (lines 14-17) – [demands].
(D) “private operators sell the oil they produce in exchange for a relatively low government take of between 5% and 10%.” (lines 66-68) – [instead of].
(E) “A more dramatic approach under consideration is to turn concession contracts into production-sharing agreements with Petrobras.” (lines 71-73) – [submit…to].
👍 Comentários e Gabarito :   D 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   49 
President Luiz Inácio Lula da Silva is mentioned in the last paragraph because, according to the author, (A) he will probably have the final say on the changes of the concession laws for the exploration of the new oilrich areas.
(B) he intends to put an end to programs of exploratory drilling off the southeastern coast of Brazil.
(C) presidential elections will be held next year and current contracts will certainly be modified.
(D) it is believed that hydrocarbon developments should only start after his presidential term ends in 2010.
(E) it is up to the President to decide which companies are reliable enough to partner with Petrobras for sub-salt production.
👍 Comentários e Gabarito :   E 
TÓPICO - Questão sobre INTERPRETAÇÃO TEXTUAL:
*
👉  Questão   50 
 “I am a bit apprehensive of the temptation of relegating to the background the lofty and creative initiative of Brazil in the sugar cane-based ethanol and other biofuel energy products, the moment the drilling of these huge oil wells in Tupi and its satellite oil wells takes off in earnest, amid challenging circumstances, though. My advice is that while Brazil is joyfully tinkering with the prospect of raking in colossal petro-dollar money, she shouldn’t, by any means, lose sight of the need to consolidate investment in the already standard setting, functional, renewable and clean energy source that is the ethanol. The government should find a perfect mix in due course.” Enyinnaya wrote Mar 21st 2009 http://www.economist.com/node/13348824/comments

The author of the comment above expresses concern for the forecast presented in Text II since

(A) he fears the high investments in the new oil fields will only take off  when Brazil manages to find a perfect partner to drill the huge Tupi wells.
(B) he  believes Brazil should be investing more in oil extraction facilities to consolidate its rank among the major world oil producers.
(C) Brazil is the world’s largest producer of ethanol and should not be worried about probing other offshore sites to increase its oil production.
(D) all of the investments in Brazil’s new oil and gas potential should not undermine its endeavors in producing greener fuels.
(E) the Tupi wells will not render the petro-dollars needed to continue empirical research on renewable energy sources.
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➽ TRADUÇÃO REVISADA do texto "The next oil giant?":

A próxima gigante do petróleo?

Obstáculos de financiamento

Na época da descoberta de Tupi, os preços do petróleo estavam próximos de US$ 100/barril, mas desde então caíram para cerca de US$ 40/barril. As fracas perspectivas de uma recuperação significativa no médio prazo suscitaram questionamento sobre se os investidores irão ver o projeto como financeiramente viável.

A escassez do financiamento internacional, os preços significativamente mais baixos do petróleo e os desafios tecnológicos e geológicos relacionados ao desenvolvimento das novas descobertas de petróleo dificultam os cálculos de custos de longo prazo. Por causa disso, a Petrobras decidiu adiar em quatro meses o anúncio de seu plano estratégico quinquenal. Foi finalmente tornado público em Fevereiro de 2008 e incluía objetivos financeiros muito ambiciosos. O plano revisado para 2009-13 baseia-se em um preço médio do petróleo de US$ 42/b e prevê investimentos de cerca de US$ 174,4 bilhões, um aumento de 55% em relação aos US$ 112,4 bilhões declarados em seu plano de investimentos para 2008-12.

A Petrobras contribuiu para conseguir financiamento para os desembolsos deste ano. A empresa levantou US$ 10,5 bilhões dos US$ 28,6 bilhões de que precisa. Dos US$ 18,1 bilhões restantes, deve receber US$ 11,9 bilhões do Banco Nacional de Desenvolvimento Econômico e Social (BNDES) na forma de um empréstimo de US$ 11,9 bilhões em 30 anos, com um empréstimo-ponte adicional de US$ 5 bilhões esperado de um consórcio de bancos internacionais. A Petrobras precisaria captar mais US$ 10 bilhões para cobrir seus investimentos em 2010.

As crescentes dificuldades de acesso aos mercados de capitais internacionais podem prejudicar esses planos ou, no mínimo, aumentar drasticamente o custo dos empréstimos. A breve flexibilização das condições de crédito em janeiro permitiu à Petrobras emitir um título de 10 anos e US$ 1,5 bilhão no mercado de eurobonds. Mas o baixo apetite ao risco por parte dos investidores estrangeiros, as recentes perdas com derivativos cambiais e a incerteza contínua em relação ao valor do real significam que as grandes empresas brasileiras estão cada vez mais propensas a depender de bancos locais para crédito com spreads de prêmio elevados.

Qual a participação do capital privado?
     
Embora o papel da petrolífera estatal não esteja em questão, o nível e a forma de participação do setor privado não são tão claros. O Brasil abriu seu setor de hidrocarbonetos para investidores privados no final da década de 1990. Desde então, tem realizado rodadas anuais de licitação que se tornaram um modelo de transparência e atraíram grande número de participantes privados.

No entanto, o novo potencial de petróleo e gás do Brasil levantou dúvidas sobre a extensão dessa abertura no futuro, à medida que o governo debate o grau preferencial de participação privada. Após a descoberta de Tupi, o governo retirou 41 blocos de águas profundas da região do pré-sal da nona rodada de licitações pela primeira vez desde que começou a realizar rodadas internacionais, em 1998. Em 2008, Brasília voltou a retirar blocos marítimos da 10ª rodada. Atualmente, sete empresas detêm concessões para o desenvolvimento do pré-sal: Petrobras, BG, Galp, Repsol, Shell, Exxon e Amerada Hess.
       
Uma força-tarefa do governo especialmente criada estuda possíveis mudanças nas leis de concessões que deem à Petrobras posição de vantagem no desenvolvimento da área de Tupi. A força-tarefa estuda opções como o aumento de impostos e royalties sobre empresas privadas que produzem nas novas áreas. Nos termos dos atuais contratos de concessão, os operadores privados vendem o petróleo que produzem em troca de uma participação relativamente baixa do Estado, entre 5% e 10%. Eles também pagam um imposto de participação especial de 10-40% da receita em grandes campos, dependendo do volume, localização, profundidade e idade; esse nível também poderia ser aumentado. Uma abordagem mais intensa em estudo é transformar contratos de concessão em contratos de partilha de produção com a Petrobras. Isso significaria que as empresas privadas teriam que compartilhar sua produção com o governo após a recuperação dos custos.
       
Qualquer mudança nos atuais acordos contratuais precisaria de aprovação do Congresso. Mas a decisão final ficará nas mãos do presidente, Luiz Inácio Lula da Silva, com base nas sugestões feitas pela força-tarefa. Qualquer que seja a linha que ele adotar, preparará o terreno para o desenvolvimento de hidrocarbonetos em um futuro Brasil rico em petróleo além do final de seu mandato presidencial em 2010. O governo espera que, ao se envolver em um debate no início do desenvolvimento das reservas de petróleo do sudeste, antecipe uma possível mudança para o nacionalismo de recursos.