Brazil Oil Cash For Poverty Reduction
Brazilian
President, Luis Inacio Lula da Silva, has declared
that profits from the exploration of oil reserves in
the country's south-east coast will be used to fight
poverty and improve education.
Scrutiny
His
proposal would grant state-controlled energy company
Petrobras the majority stake in the Tupi oil field,
but it still has to be reviewed by the Brazilian
Congress.
Opposition politicians have criticised the
decision.
The
oil reserves - discovered in 2007 - could hold up to
150 billion barrels of oil, representing the biggest
discovery in the continent over the last three
decades.
Panos / Qasim/Ahaziah