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Brazil’s Petrobras Allowed to Halt Oil Production in 16 Platforms

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The ANP (National Petroleum, Natural Gas and Biofuel Agency) in Brazil has authorized oil giant, Petrobras to interrupt its oil production in sixteen platforms and fourteen concessions due to the decline of international oil prices, the devaluation of the Brazilian real and the loss of the country’s investment grade.

According to the regulating agency the oil company may halt its production operations for twelve months in oil fields in the states of Ceara, Rio Grande do Norte, Sergipe, Bahia and Espirito Santo.

The latest request by Petrobras to halt . . .

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