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Oil prices plummeted Tuesday in Asia, falling below US$92 a barrel as investors feared the U.S. credit crisis that brought down brokerage giant Lehman Brothers will drag on global economic growth and restrain demand for crude.
SAO PAULO (AP) - Brazil's state-run oil company said Wednesday an offshore field is expected to yield the equivalent of 3 billion to 4 billion barrels of recoverable light crude and natural gas, adding to recent promising reserves the country has discovered.
SANTA CRUZ, Bolivia (AP) - Brazil's state-run oil company Petrobras is pledging to spend US$1 billion on Bolivian oil and gas projects - making it the first foreign energy company to invest in Bolivia since President Evo Morales nationalized the industry in 2006.