The only fragment that DOES NOT refer to an aspect that might represent an obstacle for the progress of the exploration of Brazil’s deep water oil reservoirs is

“The drying up of international financing, significantly lower oil prices and the technological and geological challenges (….) make longterm cost calculations difficult.” (lines 7-10).

“The revised plan for 2009-13 is based on an average oil price of US$ 42/b and calls for investments of around US$ 174.4bn, a 55% increase from the US$ 112.4bn stated in its 2008-12 investment plan.” (lines 14-18).

“The company has raised US$10.5bn of the US$ 28.6bn it needs. Of the remaining US$ 18.1bn, it is set to receive US$ 11.9bn from the Banco Nacional de Desenvolvimento Econômico e Social” (lines 20-23).

“Growing difficulties in accessing international capital markets could scupper these plans or-at the very least-sharply raise the cost of borrowing.” (lines 29-31).

“Brazil’s new oil and gas potential has raised doubts about the extent of that openness in the future, as the government debates the preferred degree of private participation.” (lines 48-51).