According to the text,...

several months ago, discoveries of important offshore oil reserves made Brazil hit international headlines.

Brazil will be the largest oil producer all over the world by the middle of next year.

today's Brazil capability of producing oil reaches about 1-1.5 million barrels per day.

by the end of last year, PETROBRAS announced that Tupi field may contain 8 billion barrels of recoverable crude.

at present, Brazil is the third largest oil producer in the world.