Business and financial news - CNNMoney.com

Thursday, May 08, 2008

Brazil Still Booming

Petroleo Brasileiro SA, Brazil's state- controlled oil company, plans to add 14,000 engineers, geologists and drillers within three years as it develops the biggest crude discovery in the Western Hemisphere since 1976.

Petrobras, as the company is known, plans to expand its workforce 23 percent to about 74,000, surpassing Chevron Corp., the second-largest U.S. oil producer. The hiring binge is part of a $112.7 billion expansion that may allow Brazil to overtake the output of all OPEC members except Saudi Arabia.
Petrobras lacks the roughnecks, or rig workers, and other staff needed to tap billions of barrels that lie in the offshore oil finds. The company is trying to hire more than a dozen people a day amid intensifying competition for skilled oil workers after crude prices surged to a record.

– Bloomberg

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