No menu items!

End of Petrobras Quota Divides Outlook on Brazil Economy

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The recent vote by Brazil’s Chamber of Deputies to ease a requirement that states that Petrobras must participate in all pre-salt oil explorations in the country has rendered applause and criticism. Those who approve the easing say that the move will attract more foreign investors while those who oppose it claim Brazil will be giving away its petroleum to foreign companies.

For IBP’s (Brazilian Institute of Petroleum, Gas and Biofuels), executive secretary Antonio Guimarães, the easing of the requirement means that Petrobras will not be setting . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?

Check out our other content