Brazil is currently producing about 1.7 million barrels a day. This new field will boost output by about 6 percent. This is a significant development.

He will give his blessing to the whole of Brazil.

The first quarter will not be good for the industry in Brazil.

What this means for Latin America is that it will be more expensive for countries like Brazil and Mexico, with big external financing needs, to issue more bonds overseas. The market is simply very nervous.

We know it will be of secondary importance to Brazil-Argentina, but we'll be approaching it with the seriousness it deserves.

Hopefully this will stimulate the appearance of new talents in Brazil.